Nigerias VP Urges Banks to Tackle High and Arbitrary Point-of-Sale Charges Immediately

Vice President Kashim Shettima has urged the Central Bank of Nigeria and commercial banks to address arbitrary Point-of-Sale (PoS) charges, which have been causing financial hardship for many Nigerians.

Vice President Kashim Shettima has urged the Central Bank of Nigeria and commercial banks to swiftly address the rising concerns over arbitrary Point-of-Sale (PoS) charges imposed on Nigerians. The calls come as the nation grapples with high transaction fees that are disproportionately affecting low-income individuals. Shettima's request highlights the need for immediate intervention to mitigate the financial burden placed on everyday citizens, particularly those relying heavily on PoS transactions. By addressing these arbitrary charges, the banks and central bank can work towards creating a more equitable and accessible payment system.