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Nigerian govt orders oil marketers to accept bank transfer, PoS transactions as naira scarcity bites hard



The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has directed oil marketers in the country to accept Point of Sale (POS) and bank transfer services for petroleum products.

The agency’s General Manager, Kimchi Apollo, who made the call in a statement on Thursday in Abuja, said the development would enable customers to buy petroleum products despite the scarcity of naira notes across the country.

The NMDPRA chief expressed displeasure at reports that some filling stations were rejecting bank transfers and POS transactions from customers despite the current cash shortage in the country.

He added that the agency would sanction any filling station that refused to accept payments via PoS and bank transfers.

Nigerians are groaning over the scarcity of naira notes with many keeping vigil in banks and Automated Teller Machines (ATMs) stands since last week in a bid to withdraw cash for their daily needs.

READ ALSO: Volume of PoS transactions hit 6 month low in August, as Nigerians spend less

The statement read: “It has come to the attention of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) that some retail outlets are not accepting the use of point of sale (POS) machines at their filling stations due to the recent cash crunch brought about by the new naira design.

“The authority frowns at this recent behaviour which is causing untold hardship for Nigerians at a time when all hands should be on deck to assist the government in the transition to the new naira.

“All retail outlets are directed to ensure the free use of POS and bank transfer for the sale of petroleum products to alleviate the suffering of customers at this critical time.

“The authority and security agencies will be at retail outlets to ensure compliance with this directive and any filling station found violating this directive will be duly sanctioned.”

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