We Will Drag CBN To Court If Withdrawal Policy Is Not Reversed — POS Operators

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The Association of Mobile Money and Bank Agents in Nigeria has warned that if the Central Bank of Nigeria (CBN) does not reverse its policy on withdrawal limit before the end of the year, its members would take to the streets to demand its reversal and also drag the apex bank to court.The AMMBAN National President, Victor Olojo, said this during an interview.

He said that the National Assembly has promised to prevail on the CBN Governor, Godwin Emefiele, to revise the policy.

The PoS operators’ union president said, “We have not gone to court yet because we have gotten assurances and we are waiting for a formal response from the CBN.

“We have visited the National Assembly and we have also explored other tools at our disposal at this time.

“They have given words of assurance that mobile money and POS operators would not be affected.

“So, we are waiting for an official statement from the CBN.

“However, if anything doesn’t change by the end of the year, we will go to the streets to protest and go to court.

‘’Remember that the Director of Banking Supervision, Mustafa Haruna, was quoted on a television station to have categorically stated that mobile money and bank agents would not be affected, so we just want to take that as an assurance while waiting for a formal report. We have written to the CBN but we are yet to get a response.’

“The CBN governor also said they will be flexible, so we are waiting for a revised policy that shows the flexibility.

“The National Assembly also said they will prevail on the governor as they are opposed to the new CBN policy,’’ he noted

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