What to do if a PoS operator charges more than N200 - CBN

Nigerians can call the Central Bank of Nigeria's (CBN) emergency hotlines to report POS employees who are selling brand-new naira bills or who are charging more than N200 for withdrawals of up to N10,000.

This information was provided to journalists during a briefing on Tuesday (14th February 2023) in Yenagoa, the capital of Bayelsa State, by Mr. Joseph Omayuku, Director of the CBN Governor's Department.

Omayuku urged the public to report unlawful PoS agents by contacting the CBN contact center at 07002255226; Telephone Ext: 711025 - 7; contactcbn@cbn.gov.ng; and the organization's social media accounts while admonishing syndicates involved in illicit operations to stop right away.

The scarcity of the new naira notes has been hurting Nigerians so much that many of them are refusing to accept the old notes as legal cash, and several state governors have decided to sue the federal government for the difficulties their states are facing.

Despite the difficulties associated with the redesign policy, banks' online payment platforms continue to face reports of errors that cause transactions to fail.

According to observers, the problems arise because digital platforms are not capable of handling the recent surge in electronic transactions as consumers turn to online payments as a result of the lack of cash.

Online payment problems are cited as a cause by those who reject them.