New Naira: POS Agents Charging Above N200 Will Be Jailed – CBN

Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has vowed to arrest and prosecute Point of Sale (POS) agents charging above 200 naira for cash swap.

The apex bank governor stated this on Tuesday during his visit to the Ministry of Foreign Affairs to discuss the new currency redesign and bank policy.

He noted that things have improved significantly with the introduction of over-the-counter payments in addition to ATM withdrawals and the use of Super-agents.

The CBN governor said that there was no need to shift the February 10, 2023 deadline.

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He said, “The situation is substantially calming down since the commencement of over-the-counter payments to complement ATM disbursements and the use of super-agents.

“There is, therefore, no need to consider any shift from the deadline of February 12.”