• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, July 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

FCCPC To Prosecute PoS Operators Over Service Price Fixing

by Royal Ibeh
2 years ago
in Business
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The Federal Government(FG) through the Federal Competition and Consumer Protection Commission (FCCPC) is set to sanction Point of Sales(PoS) operators who fix service prices as instructed by the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN).

Hence, FCCPC said, it is unlawful for AMMBAN to fix the prices for its members.

This is even as it cleared the air that it is not against individual PoS operators increasing their prices as they deem fit to make a profit from the business.

The chief executive officer, FCCPC, Babatunde Irukera, who disclosed this in a statement, averred that, any attempt to establish a PoS business cartel would be prohibited by the FCCPC.

RELATED

What Attracts Kenyan Punters Most To Sports Betting

Tech Upgrades That Ensure Faster Player Settlements

5 hours ago
Experts Laud CG As Customs Grants 90-day Window To Regularise Imported Vehicles Duty

Customs Grants 223 Importers 21-day Ultimatum Over N379.6bn Duty Violations

12 hours ago

Recalling that FCCPC had earlier warned AMMBAN to desist from fixing price or face prosecution, Irukera said: “Just because the Commission was yet to persecute any POS Operators, does not mean that it is weak. The Commission prefers advocacy approach to enforce obedience to the law because the PoS business is dominated by young Nigerians who are creating jobs for themselves.”

However, the CEO emphasised that the commission will not hesitate to sanction any PoS operator who go against the law, while reminding PoS operators that violation of an order of the Commission attracts additional consequences apart from the underlying illegal conduct that is the subject of the order such as up to N10,000,000 for corporate entities; and N1,000,000 and or a prison sentence of up to three months for individuals.

“Considering that membership of AMMBAN probably consists mainly of small businesses and creates employment for young and mostly vulnerable citizens, the Commission adopted advocacy and business education as the tool to promote and enforce obedience to the law.

“This is a prudential, not weak or helpless approach to ensuring compliance, and it underscores the Commission’s proportionality approach to its consequence management system; and interpretation of the law,” he further explained.

The CEO disclosed that the commission has not sought to limit the prerogative of PoS service providers to determine and set prices for services in a manner of their choosing subject to Section 127 of the Federal Competition and Consumer Protection Act 2018 (FCCPA), which prohibits manifestly unjust or exploitative prices.

“As a matter of fact, and to the contrary, the commission respects and encourages a pricing methodology that is the product of market forces in a free, competitive and undistorted market. There is no evidence that the PoS market lacks sufficient players or competition in Lagos which is the subject of the announcement, or anywhere else for that matter.

“The Commission welcomes the inherent powers and discretion of each PoS operator to set their prices based on their own internal mechanisms and relevant markets, providing consumers with choices and the best possible prices while ensuring profitability,” he clarified.

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

NESG, Nutritionists Harp On Healthy Food, Breastfeeding For Workforce Nutrition

Next Post

200 Young Girls Get Skills To Build Startup Businesses

Royal Ibeh

Royal Ibeh

You May Like

What Attracts Kenyan Punters Most To Sports Betting
Business

Tech Upgrades That Ensure Faster Player Settlements

2025/07/26
Experts Laud CG As Customs Grants 90-day Window To Regularise Imported Vehicles Duty
Business

Customs Grants 223 Importers 21-day Ultimatum Over N379.6bn Duty Violations

2025/07/26
Nigeria, UK Strengthen Relations On Trade, Standards
Business

Nigeria, UK Strengthen Relations On Trade, Standards

2025/07/26
Transcorp Hotels Appoints Osakwe As Non-executive Director
Business

Transcorp Hotels Posts N12.228bn Pre-tax Profit, To Pay N1.02bn Interim Dividend

2025/07/26
Business

Fintech Experts Create Platform To Connect Startups With Investors

2025/07/26
NLNG Ties 2023 Science Quiz Competition To Net Zero Emission
Business

The NLNG Prize For Literature 2025 Offers $100,000 To Winner

2025/07/26
Leadership Conference advertisement

LATEST

Army Debunks Report Of Delayed Promotion, Allowances

Constitution Review: North-West States Reject Diasporan Voting, Back State Creation

2027: ADC Vehicle To Achieve Northern Unity, Progress — Mark

‘Bring WAFCON Trophy Home,’ Tinubu Charges Super Falcons

Nigeria’s Eniola Bolaji Clinches 2025 British, Irish Para-badminton Gold Medal

Navy Arrests 9 Fake Coast Guards In Akwa Ibom

Robbers Invade Radio Station, Cart Away Equipment In Kogi

3 Passengers Die In Taraba Boat Mishap

BBNaija Season 10 Begins As Organisers Unveil Housemates

Ebonyi Gov’t Orders Evacuation Of Students As Hostel Collapses

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.