The Central Bank of Nigeria (CBN) will sanction Super Agents over the activities of Point of Sales (PoS) operators should they breach the guidelines of their license.
According to the CBN acting governor, Folashodun Shonubi, on Tuesday, the apex bank doesn’t deal directly with the PoS agents.
He said the activities regulated by the CBN are that of the Super Agents, under which the PoS agents operate. As a result, Super Agents will be sanctioned for the offences of the PoS operators.
The PoS agents have been in the news recently over their decision to raise charges on transactions following the hike in the cost of living, which is driven by an increase in prices of fuel, from N189 per litre to N580.
In his statement about the attempt of the PoS operators to review their transaction charges, Shonubi explained that the CBN’s model runs in a way that “we do not deal directly with POs operators, we have companies we license, which are super agents, who have PoS.
“We have regulated prices with super agents and it’s their responsibility to enforce them, we have informed the super agents of the operators, and where we find agents responsible for actions not in line with their license, we sanction super agents,” he said
