Naira Scarcity: We’ll arrest and prosecute PoS operators, others over exorbitant charges — CBN vows

Naira Scarcity: We’ll arrest and prosecute PoS operators, others over exorbitant charges — CBN vows.

The CBN has vowed to prosecute PoS operators who are taking advantage of the current cash scarcity in the country to exploit the general public by charging exorbitantly for transactions.

The CBN Governor Godwin Emefiele said this on February 14th in his meeting with members of the diplomatic corps.

While acknowledging the inconveniences caused by the naira redesign policy including hoarding & an elevated agitation, Emefiele promised to prosecute PoS operators who charge above the stipulated amount.

Also, CBN’s Director, Governor’s Department, Mr Joseph Omayuku on Monday, February 13 warned that those not licensed to be payment agents but acting as one with the sole aim to exploit Nigerians risk arrest & prosecution. Speaking in Yenagoa, Bayelsa State, Omayuku said operators of fuel stations & supermarkets that have been allowing electronic transfers but now insist on cash transactions may be arrested.