Tag: PoS
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Happening now: Suspected cultists run rampage in Abuja
…alleged a member was killed …as police stay away Suspected cultists are on the prowl in Lugbe, a satellite of Abuja, the Federal Capital Territory (FCT) raiding shops and obtaining Point of Sale (POS) machines from shop owners as police stay away from the scene. Information reaching TheNewsGuru.com (TNG) indicate that the suspected cultists claimed…
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#ENDSARS: Abuja ATM machines dry up as POS operators make a ‘kill’
By Emman Ovuakporie Abuja residents in Kubwa on Saturday morning woke up to discover that all the ATM machines in commercial banks had no cash to dispense. TheNewsGuru.com, (TNG ) reports this development as residents of the Abuja satellite town troop to Point of Sale, otherwise known as POS to cash money and had to…
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N50 POS charge to be paid by businesses not customers – CBN
The Central Bank of Nigeria (CBN) has urged customers not to pay N50 charge to businesses for using point of sale (POS) machines. Musa Jimoh, a director in CBN’s payment system management department, explained the apex bank’s merchant charge directive on Monday. “The stamp duty is a fee regulated by an act. The CBN doesn’t…
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Retailers, merchants recorded 150,777 failed PoS transactions Tuesday
Retailers and merchants all over the country experienced 150,777 failed Point of Sales transactions on Tuesday. The Point of Sales transactions carried out by retailers and merchants totalled 798,833 at exactly 7.10pm on Tuesday and had a high failure rate of 19 per cent, live updates provided by the NIBSS showed. Transactions via PoS terminals…
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Nigeria’s e-payment transactions hit N56.85trn
Report from the Nigerian Interbank Settlement System (NIBSS), have indicated that Nigeria’s electronic payment (e-payment) services, recorded transactions worth N56.85 trillion from January to September, 2018. The report showed an increase of N16.4 trillion when compared to the N40.45 trillion that was recorded in the corresponding period of 2017. The report showed that most of…
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Benin residents experience miserable Christmas
Benin residents experienced a miserable 2018 Christmas as long queues surfaced at bank cash points known as the Automated Teller Machines (ATM) and Points of Sale (PoS) in Benin City, Edo capital, according to checks. Most of the machines had failed to dispense cash during the Yuletide with scores of residents returning home disappointed. Some…
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Gov. Wike bags international POS award
Rivers State Governor, Nyesom Ezenwo Wike has been nominated for the prestigious International Sports Press Association-Africa (AIPS) Africa Power of Power (POS) Award. In a nomination letter to the Rivers State Governor, dated 26th March, 2018, President AIPS Africa, Mitchell Obi said that Governor Wike is being recognised for his remarkable fidelity in raising the…
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Banks must settle customers’ complaints within 2 weeks – CBN
The Central Bank of Nigeria (CBN) has directed that banks and other financial institutions must settle customers’ complaints on issues of overcharge, unauthorised deductions and other matters within two weeks. Mr Tajudeen Ahmed, The CBN Head of Complaints Management Division, said this in an interview with the News Agency of Nigeria in Abuja. He said…
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Banks raise dollar spending limit on Pos, online transactions by 900%
Indications emerge on Tuesday that commercial banks have raised customers’ international dollar spending limit on overseas Point of Sale (PoS) and online card transactions by 900 per cent. The policy shift is expected to help travellers pay their hotel bills, make reservations and other transactions using their debit cards. The decision to increase the spending…