NAIRA SCARCITY: Vandalisation of network infrastructure affecting PoS machines, banking activities —NCC warns

The Nigerian Communications Commission (NCC) has warned that the vandalisation of infrastructure belonging to telecommunications will affect Point of Sale (PoS) transactions.

According to the NCC’s Executive Vice Chairman, Umar Dambatta, on Thursday, network providers have reported that their infrastructure was being vandalised, and this could have multiple ripple effects on Nigerians.

He said this at the ‘Youth, Civil Society, and Stakeholder Summit on Curbing the Destruction and Vandalisation of Telecom and Other Critical National Infrastructure in Nigeria During the Elections.’

Dambatta explained that the use of PoS machines, as well as banking activities, could be affected as it depends on the national telecom infrastructure.

His warning comes at a time the Central Bank of Nigeria (CBN) is urging Nigerians to adopt digital payment methods and reduce their dependence on cash.

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Recall that the CBN had introduced the Naira redesign policy to drive up electronic payment channels, one of which is the PoS payment method. The policy resulted in the redesign of N200, N500 and N1,000 banknotes, with Nigerians transitioning from the old Naira to new currencies.

The NCC vice chairman also stated that “Some of the impacts are as follows: Disruption of the network services and disconnection of digital platforms, congestion of alternative backup routes/networks, interruption of social and economy activities, loss of revenue, ripple effect on other networks and network elements, delay in network recovery.

“The forthcoming elections, national activities and programmes, communication with friends and families, conducting banking activities especially use of point of sales (PoS) machines, all depend on the national telecom infrastructure.

“We all need to protect and preserve these infrastructure, as it will impact severely many aspects of our daily lives and activities in the event of its disruptions.”

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