FG ceased the N50 Charge imposed on POS

Pos machine picture || Notensionzone

The Federal Competition and Consumer Protection Commission FCCPC on Tuesday ceased the additional N50 charge currently being imposed on transactions conducted through Point of Sales Terminal.

The FCCPC issued the directive in a statement personally signed by its Chief Executive Officer, Mr Babatunde Itukera and made available to journalists in Abuja.

In recent times, there has been significant contention with respect to merchant imposed N50 stamp duty on consumers for POS transactions.

This imposed fee, which is said to have emanated from the Central Bank of Nigeria is meant to be for consumers who select POS options to conclude their purchases or transactions.

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