Cash Shortage, ₦50 Levy Force PoS Agents To Hike Withdrawal Charges
Point-of-Sale (PoS) operators across Nigeria have raised their withdrawal fees, charging between ₦150 to ₦200 for every ₦5,000 transaction, up from the previous rate of ₦100. The operators attribute this increase to the ₦50 Electronic Money Transfer Levy (EMTL) imposed by the Federal Inland Revenue Service (FIRS) on financial technology (fintech) companies. In September, fintech … Read more