Nigerians Point-of-Sale operators under the aegis of Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) on Friday petitioned President Muhammadu Buhari and the National Assembly (NASS) against the withdrawal limit policy of the Central Bank of Nigeria (CBN) of N20,000 by individuals and N100,000 by corporate bodies per day.
The group in the petition called on President Buhari and the National Assembly to intervene and mandate the suspension of the policy to save 1.4 million bank agents from losing their means of livelihood.
The National President of AMMBAN, Victor Olojo, while addressing newsmen on Friday in Abuja said that over 1.4 million people stand the risk of losing their jobs if the apex bank succeeded in implementing the policy, saying that the policy should either be suspended or reviewed upward.
The POS operators in the petition dated December 16, 2022, specifically requested an upward review of the maximum withdrawal limit to N500,000 weekly for individuals and N3 million for corporate organisations.
Olojo said that “AMMBAN believes the cashless policy in its current state hasn’t provided for Mobile Money and Bank Agents in Nigeria adequately.
“Even as the CBN Governor made reference to the fact that Mobile Money and Bank Agents are spread across the country; this is one of the reasons why he strongly feels the country is ready for the cashless policy, the document puts the jobs of over 1.4million agents on the line in its present state.
“This and many other germane reasons informed the decisions of the Association to engage the CBN, the National Assembly and other relevant stakeholders.
“This is to ensure that while we show support for the cashless policy of the government through the CBN, the policy should recognise the categorisation of agents’ accounts as it does individuals and corporate entities.”
Leave a Reply