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1.4m PoS operators to lose jobs over CBN policy- Association

The Association of Mobile Money and Bank agents in Nigeria has written a petition to the house of Representatives on the new CBN Cash policy.

The petition was read by a member from Oyo state, Tolulope Shadipe, on the floor of the house when the CBN deputy governor, finance system stability, A’isha Ahmed came to brief the house on the new policies of the apex bank.

According to the petition, the new cash policy will render POS operators jobless because there are over 1.4 million agents in Nigeria.

“I know that CBN is aware that there are over 1.4 million POS agents in Nigeria and this new policy would render them jobless,” Mrs Shadipe warned.

“That is a major economic impact on the nation. 

“Was this given consideration when this policy was decided?” She asked.

The Lawmaker said it was regrettable that the policy also affects the progress made in diaspora remittances, which currently stand at $20 billion.

Mrs Shadipe observed that thousands of mobile money and bank agents operate outside the city centres and “do not have access to digital or electronic banking”. 

She added that the association had written a petition to the CBN on the 8th of December without receiving any response. 

In her response, the deputy governor, finance system stability of the CBN, A’isha Ahmed, assured Nigerians that the policy would not make people lose their jobs, saying technological changes open new opportunities for people to do other things.

She added that the Apex bank has already launched massive enlightenment campaigns to educate Nigerians more on the policy.

Reporting by Ibrahim Shehu; Editing by Hadiza Abdulrahman and Tony Okerafor