deposit money banks dmbs

CBN Sets Daily Withdrawal Limit On POS To N100k Per Customer

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The Central Bank of Nigeria, CBN, has set a daily withdrawal limit on Point-of-Sale, PoS, terminals to N100,000 per customer. This was contained in a circular the apex bank sent to all Deposit Money Banks, DMBs, Microfinance Banks, mobile money operators and super-agents. In the circular titled ‘Cash-out limits for agent banking transactions,’ the CBN … Read more

Nigerians Shun PoS Transactions Over Charges

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Soldier, Nigerians Shun PoS Transactions Over Charges

The volume of electronic payment transactions through Point of Sale (PoS) terminals dropped by 4.83 billion in one month. According to the Nigerian Interbank Settlement System (NIBSS), it dipped from 46.13 billion deals in December 2019 to 41.3 billion in January. The PoS transaction drop in cash value is N60 billion. Merchants- retail outlets in … Read more

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