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POS threatens to suspend services

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This may not be the best of times for the POS operators and many Nigerians, as The Association of Point of Sale Service Providers {POS} have threatened to suspend and cripple banking operations in the country if the Central Bank of Nigeria (CBN) and the Federal Competition and Consumer Protection Act (FCCPC) fail to immediately intervene in the alleged exclusivity practice by Verve International and Interswitch Limited.

The Association disclosed this in a statement signed by Yomi Idowu, Communications Consultant to the Association.

According to Idowu, the POS operators have written a letter to protest the alleged persistent unlawful decisions of the two companies, noting that the actions of Verve and Interswitch negate ‘extant rules and regulations of the Central Bank of Nigeria{CBN} and the Federal Competition and Consumer Protection Act  {FCCPC}, 2018.

The Association of POS Service Providers emphasised that ‘As representatives’ of a coalition comprising several Central Bank of Nigeria  Licensed payment acceptors/acquirers, processors and switches, they would have no option but to suspend acceptance/acquiring, processing and switching of Verve Card transactions.

The Point of Sales Association in the letter was quoted  thus: “This decision has become unavoidable due to the persistent and escalating unlawful conduct of Verve International (Verve) and Interswitch Limited (Interswitch) which according to the Association jointly undermine “The integrity of Nigeria’s payments ecosystem, erode the capital base of participating  institutions  and violate several regulatory  requirements.”

The Association highlighted the breaches as including but not limited to: maintenance of an exclusive monopoly over Verve transaction processing; abuse of dominant position in the domestic card scheme market, contrary to section 72 of the Federal Competition and Consumer Protection Act 2018(FCCPCA) and Section 3,4,7,3 of the CBN Guidelines on Operation of Electronic Payment  Channels; imposition of scheme fees in excess of the regulated Merchant Service Commission(MSC) share attributable to acquirers under extant CBN regulations and; unauthorised and unlawful debits from settlement accounts of Acquirers, and Processors /Switches.

The POS Association recalled that its members contributed immensely to building the acceptance and growth of Verve cards at enormous cost to its members in compliance with the CBN regulations without subsidy from Verve and Interswitch as a domestic scheme in Nigeria.

Mr Idowu concluded that “Ironically, the association emphasised that other card scheme operators have since abolished all forms of exclusivity in compliance with the CBN regulations.”

 

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One killed as four vehicles crash on Kara Bridge

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Truck being evacuated at the scene of the early morning accident

The Lagos State Emergency Management Agency (LASEMA) has confirmed that four vehicles were involved in the early morning accident on Kara Bridge, inward Mowe-Ibafo.

The accident, which was caused by brake failure, disrupted vehicular movement on the bridge.

LASEMA, however, responded promptly by sending its Response Team.

Explaining in a statement, the Head of Public Affairs, LASEMA, Afolabi Olawale,
on behalf of the Permanent Secretary, LASEMA, Dr Damilola Oke-Osanyintolu, said the LASEMA Agency’s Response Team was deployed at 05:46hrs following reports of a truck accident obstructing the corridor.

“On arrival, responders found a truck laden with bags of monosodium glutamate which had fallen on its side across the carriageway, obstructing approximately 75 per cent of the road inward Mowe-Ibafo.

“Preliminary investigation indicates that the incident was caused by a mechanical failure, specifically brake failure, which led the driver to lose control and the vehicle to overturn.

“The impact triggered severe traffic congestion and resulted in a secondary collision involving four other vehicles, including a Toyota Sienna, a mini truck conveying paints, a flatbed truck loaded with imported plywood, and another fully loaded truck. As a result of the secondary impact, paint and wooden sheets were spilled across the roadway.”

He disclosed that an adult male was found trapped beneath the overturned truck and was confirmed dead at the scene, with two others sustaining minor injuries.

The body was handed to the Federal Road Safety Corps for evacuation.

Oke Osanyintolu further stated that to safeguard road users, the incident area was immediately secured, and traffic management measures were activated to minimise the risk of further incidents and to ease vehicular movement.

” Recovery operations were commenced with the support of two private tow trucks, working to evacuate the affected vehicles and clear the obstruction.

“The operation is being jointly coordinated by the LASEMA Response Team, the Federal Road Safety Corps, the Nigeria Police Force, and the Lagos State Traffic Management Authority,” Oke -Osanyintolu stated.

Recovery efforts are currently ongoing to remove the vehicles, clear the spilled contents, and restore full vehicular movement along the affected corridor.

LASEMA advised motorists to exercise patience, adhere to diversions and instructions from traffic officials on ground, and maintain safe driving speeds, particularly around Kara Bridge.

Oke-Osanyintolu commiserated with the family of the deceased and wished the injured a speedy recovery.

“We also appreciate the professionalism of all responders and the cooperation of road users during the operation.

“LASEMA remains committed to protecting lives and property and will continue to work with sister agencies to ensure prompt and effective emergency response across the State,” he concluded.

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LASEMA contains gas tanker fire

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The Lagos State Emergency Management Agency (LASEMA) has contained a fire incident involving a gas-laden tanker at Ola Farm Bus Stop, along Abaranje Road in Ikotun, Lagos.

The incident, which happened earlier today, caused temporary inconvenience to members of the community, and has since been arrested by the
Response Team of LASEMA.

According to a statement by the Head, Public Affairs , LASEMA,  Afolabi Olawale, on behalf of the agency’s Permanent Secretary, Dr Olufemi Damilola Oke-Osanyintolu,  the Response Team met the tanker engulfed in flames when it got to the scene of the incident.

Initial findings, according to the statement, revealed that the vehicle was travelling at speed when it struck a road bump. The impact caused the driver to lose control, which led to a tyre burst and an immediate fire outbreak.

However, LASEMA, working in close coordination with the Lagos State Fire and Rescue Service,  moved in, suppressed the fire, secured the perimeter, and prevented any escalation that could have threatened nearby homes, businesses and road users.

The statement added that the operation was supported by the Lagos State Traffic Management Authority, the Federal Road Safety Corps and officers of the Nigeria Police from Ikotun Division, who managed crowd control and traffic diversion to ensure safety and order at the scene.

Oke-Osanyintolu was grateful that there were no casualties.

“The situation has been brought under control and the fire fully extinguished.
“Efforts are now focused on the safe evacuation of the affected tanker from the roadway. To achieve this, LASEMA has deployed heavy-duty equipment to lift and remove the vehicle to restore normal traffic flow in the area. The operation remains ongoing,” Oke-Osanyintolu said.

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FG sets aside N3.6bn to support tailors, other artisans

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President Bola Tinubu

By Obaloluwa Darasimi

The Federal Government has approved the release of N3.6 billion to support artisans across the country, with a major focus on the tailoring industry under the Skill Up Artisans (SUPA) programme.

The Director-General of the Industrial Training Fund (ITF), Dr Hafiz Oluwatoyin Ogun, disclosed this in Abuja during the registration and screening exercise for the third phase of the SUPA programme.

According to Ogun, President Bola Tinubu directed that the fund be earmarked for artisans, particularly tailors, who constitute the largest group of artisans in Nigeria.

He said that under this year’s programme, the ITF would concentrate on strengthening tailoring businesses by providing training, business incubation and other forms of support.

Ogun added that the agency targets no fewer than 200,000 beneficiaries in the tailoring sector during the current phase of the initiative, describing the programme as part of the Federal Government’s efforts to enhance vocational skills, promote entrepreneurship and create sustainable employment opportunities.

Ogun said SUPA is a pet project of President Ahmed Bola Tinubu. “The President is not happy that for as little as a plumbing job, Nigerians import skilled artisans from neighbouring countries; they even go as far as China, Bangladesh and far-off countries to bring in artisans, meanwhile able men and women are crying for jobs in Nigeria.

“This shows that the Nigerian informal sector has not been organised in years, which is why the President is doing all it takes to ensure the ITF organises the skill sector, and it is being done through the SUPA program.

“The order is to ensure artisans are well trained and meet up to global standards. After their training, if they do well, they should be given both local and international certificates. Their jobs and crafts should be licensed and captured under national data.”

The Director-General of the Industrial Training Fund (ITF), Dr Hafiz Oluwatoyin Ogun, said the Skill Up Artisans (SUPA) programme is being implemented across all the senatorial districts in the country, with some districts operating between two and three training centres.

He explained that the programme offers three pathways for participants upon completion, one of which is talent export.

According to him, President Bola Tinubu is not opposed to Nigerians seeking opportunities abroad but has consistently advised those intending to relocate to first acquire marketable skills and obtain recognised certifications that would make them competitive in the global labour market.

Ogun also disclosed that the ITF would assist graduates of the programme to secure employment in industries. He said beneficiaries’ profiles, including their skills and areas of expertise, would be uploaded to the ITF marketplace and integrated into the agency’s database.

He explained that the platform would enable prospective employers and clients to search for artisans by name or skill, making it easier for trained participants to access job and business opportunities.

 

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