Mobile Money and Bank Agents of Nigeria, an umbrella body for money vendors such as Point of Sale (PoS) and others has called on President Muhammadu Buhari to upgrade the N100,000 per week maximum withdrawal to save about 1.4m jobs nationwide. The CBN cashless policy expected to kick off February 2023 puts weekly cash withdrawal for individuals at N100,000 and corporate bodies at N500,000.
But speaking during a news conference in Abuja AMMBAN national president Mr. Victor Olojo, argued : “AMMBAN believes the cashless policy in its current state hasn’t provided for Mobile Money and Bank Agents in Nigeria adequately. “Even as the CBN governor made reference to the fact that Mobile Money and Bank Agents are spread across the country, is one of the reasons why he strongly feels the country is ready for the cashless policy, the document puts the jobs of over 1.4 million agents on the line in its present state. “This and many other germane reasons informed the decisions of the association to engage the CBN, the National Assembly and other relevant stakeholders. “This is to ensure that while we show support for the cashless policy of the government through the CBN, the policy should recognise the categorisation of agents’ accounts as it does individuals and corporate entities.”According to him, the group had interacted with lawmakers on the matter. “They were all in agreement that owing to the high relevance Mobile Money and Bank Agents have in the successful implementation of the cashless policy, there has to be categorisation of the accounts to be able to serve the Nigeria people especially in areas where there are no banks or basic infrastructure to enhance the usage of alternative channels of transaction.”
