The Association of Mobile Money and Bank Agents in Nigeria (AMBBAN) has said the economic realities in Nigeria have made it necessary for its members to begin the implementation of the proposed new service charge across Nigeria on Monday, July 18, 2023.
The development comes as AMBBAN indicated interest to extend the implementation to the Federal Capital Territory and other states.
The intention of the members of AMMBAN in Lagos to hike their charges is coming at a time cost of transportation and food have shot up.
The group also released a new price list for its members in Lagos and said they were adjusting it in the face of current economic realities.
The move caused an uproar among Nigerians, prompting the Federal Competitions and Consumer Protection Commission (FCCPC) to ask AMMBAN members to halt the proposed hike in new charges.
The Central Bank of Nigeria (CBN) also intervened in the issue.
But the National Publicity Secretary of AMBBAN, Elegbede Segun said threats and sanctions were just on the pages of new papers, stating that AMBBAN members are prepared to commence the implementation.
He said: “The reactions you have seen are just on the pages of newspapers, as far as the central bank and FCCPC is concerned,” Elegbede said on Friday.
The operators say they cannot help but implement new charges due to current realities.
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