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
Eko Hot Blog reports that the Registrar General of the Corporate Affairs Commission (CAC), Hussaini Ishaq Magaji, disclosed reasons behind Government’s directive for Point of Sale (POS) providers, to register with the commission. He said criminals increasingly use POS machines to extort money from their victims. According to Magaji, the registration is to enable the … Read more
Eko Hot Blog reports that a Point-of-Sale (POS) operator has foiled an attempt by a customer, Linda Ihebinike, to make a N90,000 transaction with fake notes. The Public Relations Officer (PRO) of the Lagos State Police Command, SP Benjamin Hundeyin, disclosed the development in a statement on Sunday. EDITOR’S PICKS How Nigeria’s Digital In Health Initiative … Read more
Eko Hot Blog reports that the Nigeria Police Force says operators of point-of-sale (POS) machines and other electronic mobile money transaction devices are not allowed within its stations and facilities. The Force Public Relations Officer, ACP Olumuyiwa Adejobi, disclosed the NPF’s position in a statement on Monday. EDITOR’S PICKS ‘Shameless Bloody Serpent’ – Akeredolu’s Wife … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has explained the reason behind the fresh naira scarcity and cash crunch being experienced in some states of the country. According to a statement made available to newsmen by the Corporate Communications Department of the apex bank, Nigerians are experiencing cash scarcity due largely … Read more
By Bayo Osiyemi Are you a business owner in Lagos looking to streamline your operations, boost efficiency, and enhance customer experience? Setting up a Point-of-Sale (PoS) system might be the game-changer you need. In this comprehensive step-by-step tutorial, we will walk you through the process of establishing a PoS system in Lagos, offering actionable insights, … Read more
EKO HOT BLOG reports that Central Bank of Nigeria has said it will intervene to resolve issues around the new charges adopted by Point of Sale operators in Nigeria. Already, Point of Sale agents are meeting with stakeholders across the country to agree on changes in transaction charges for PoS services. EDITOR’S PICKS OPM’s Apostle … Read more
EkoHotBlog reports that Point of Sale (PoS) agents in Lagos State has announced new charges for cash withdrawal. According to Stephen Adeoye, Public Relations Officer, Association of Mobile Money and Bank Agents in Nigeria, Lagos Chapter, the change in the price list is to eradicate price discrepancies in the industry. Adeoye said, “Let me tell … Read more
Eko Hot Blog reports that the Lagos State Government has presented 1,500 digitised Point of Sale (PoS) Machines to a new set of beneficiaries from different Local Government Areas across the State. In a statement Wednesday evening, the state government said the move is in continuation of the distribution of free PoS machines as … Read more
A Pure water hawker was spotted selling with a POS machine. The scarcity of the country’s freshly redesigned N1,000, N200, and N500 notes has resulted in hardship. The photo of the lady has drawn the attention of so many online. EKO HOT BLOG reports that a pure water hawker has become a growing sensation online … Read more
By Praise Benjamin The Central Bank of Nigeria has in recent time been working tirelessly to regulate the system’s economy and get complete control of “all cash in circulation” throughout the country. This is a laudable move, as it promises to offer numerous advantages, such as lowering the inflation rate, regulating prices of goods, monitoring … Read more
CBN has provided fresh information on the Cash withdrawal limits. EKO HOT BLOG reports that Central Bank of Nigeria (CBN) has said the new cash withdrawal limits was a continuation of the cashless policy launched in 2012. The Deputy Governor of Financial System Stability, CBN, Aisha Ahmad, made this known while appearing before the House … Read more
Three men hacked a POS platform to steal N16 million. Eko Hot Blog reports that the Nigeria Police Force (NPF) has arrested three suspects for hacking a Point of Sale (POS) platform to steal N16 million in Oyo State. EDITOR’S PICKS Court Finds Trump’s Company Guilty Of Tax Fraud 2023: Buhari Directs Army To Maintain … Read more
The FRSC has alerted Nigerians that it does not receive payment for fines of traffic offences on patrol points. Eko Hot Blog reports that the Federal Road Safety Corps (FRSC) has informed Nigerians that it does not permit the use of Point of Sale Machine (POS) machines nor receive payment for fines of traffic offences … Read more
Lagos state government has empowered 5000 youth with Point of Sale machine No fewer than 5000 youths from different parts of Lagos State were on Tuesday empowered with Point of Sale (POS) machines to enable the beneficiaries to become self-employed and financially independent. EKO HOT BLOG reports that the Commissioner for Wealth … Read more
Tragedy as gunmen killed POS operator after performing prayer in mosque in Ibadan. EKO HOT BLOG reports that tragedy struck at Bako Community, a suburb of lbadan City, near Omi-Adio following the killing of a forty year old man operating a point of sales, P.O.S, business in the area. The deceased, Saheed Lawal was shot … Read more
Police have declared 16-year-old female PoS operator missing in Ekiti EKO HOT BLOG reports that the Ekiti State Police Command has declared a point-of-sale operator (PoS) Faith Olatunji, of Oke Bola Street, Ado Ekiti, missing. The state Commissioner of Police, Tunde Mobayo, said the 16-year-old “left home on December 29, 2021 around 7.45am to … Read more
A soldier has allegedly defrauded a PoS operator of N100,000 in Lagos State. EKOHOTBLOG reports that a soldier, identified only as Williams, has been accused by a Point-of-Sale (PoS) operator, Samuel Ayodele, of defrauding him of N100,000 in Lagos State. This online newspaper gathered that the soldier on October 26, 2021, drove a black Hilux to the … Read more
Police arrest personnel over alleged extortion in Imo The victim also alleged that the officers assaulted him and other occupants of his vehicle before intimidating him into transferring the money… Ekohotblog reports that the Imo State Police Command has announced the arrest of many of its personnel for allegedly extorting N60,000 from Mr Victor Agunwah, … Read more
He said the bank reversed the transaction and paid back the suspect because it did not receive any response from the POS operators it emailed. Victor Ukachuckwu a 29-year-old commercial motorcyclist,, has confessed to using an online application he downloaded from the Internet to fool Point of Sales (POS) operators in Ondo State and … Read more