The National Public Relations Officer, Association of Mobile Money and Bank Agents in Nigeria, Oluwasegun Elegbede, has said its members have no intention to revert to old prices charged for services.

PoS agents under the association recently announced increases in the cost of PoS transaction costs and began the implementation of the new prices on Monday.

Following the move, the Federal Competition and Consumer Protection Commission moved to stop the PoS transaction charges.

Speaking with The PUNCH, Elegbede said, “What has the commission done to other price increases across other sectors? We are waiting for the enforcement or the sanction.

“We want to know if it is the commission that is funding us or giving us support? We need to ask them the right questions. What are they doing as regards other segments of the economy that are also increasing prices?”

Elegbede noted that the association’s new pricing regime was operational across the country. He noted the recent increase in fuel pump prices strengthened the resolve of PoS agents to stick to the new.

He said, “Our members have started adjusting their prices. Also, they got the rude shock that pump prices have jumped up. I know a few agents are concerned about what the FCCPC is saying, but before the end of the week, and judging by the increment in prices, many will join.

“Compliance is going on, and we are making sure it is. The implementation is national. Many states have confirmed that they have announced new rates, they may not have done it in the papers, but they have.”

The Executive Vice Chairman/Chief Executive Officer, FCCPC, Babatunde Irukera, told The Punch in an exclusive interview that the commission was ready to issue an order to bar PoS from continuing with their action. (The PUNCH)

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