The Association of Mobile and Bank Agents in Nigeria (AMMBAN) has vowed to take to protest if the Central Bank of Nigeria’s policy which fixed weekly cash withdrawals for individuals at N100, 000 and corporate bodies at N500,000 weekly is not reversed.
The POS operators had in a petition dated December 16, 2022, called on the CBN to review its policy to save 1.4m bank agents from losing their means of livelihood.
The Association’s President, Mr. Victor Olojo said if the policy was not reversed before the end of the year, its members would take to the streets to demand its reversal and also take the apex bank to court.
“We have not gone to court yet due to positive assurances we are getting while also awaiting a formal response from the CBN, as we have visited the National Assembly and are also exploring other means within our disposal.
“The National Assembly had given us their word that mobile money and POS operators would not be affected. So, we are waiting for an official statement from the CBN. if nothing is done before the end of the year, we will take to streets to protest and also go to court” he averred.
Olojo recalled that the Director of Banking Supervision, Mustafa Haruna, was quoted saying that mobile money and bank agents would not be affected, so we just want to take that as a statement of hope, while waiting for a formal response from CBN.
He said the association is holding on to the certitude by CBN that the policy would be flexible and also the National promised to intervene, as they also are not in agreement with the policy.
“We are hopeful that CBN will reverse the policy before the end of the year and also hinge on the assurance of the National Assembly to prevail on the CBN governor,” he said.
