Emefiele says POS operators collecting exorbitant will be prosecuted

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) says the bank would prosecute point-of-sales (PoS) operators who collect exorbitant charges for transactions.

Emefiele spoke on Tuesday during a meeting with members of the diplomatic corps.

While acknowledging the inconveniences caused by the naira redesign policy including hoarding and an elevated agitation, he promised to prosecute POS operators who charge above the stipulated amount.

Emefiele admitted that while these are challenging times for Nigerians, they shouldn’t be exaggerated especially by people in authority to create panic.

He insisted that there’s no going back on the February 10th deadline.