The Federal Competition and Consumer Protection Commission (FCCPC), has said it would investigate the proposed plan by the Lagos Chapter of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) to peg Point of Sale (PoS) charges at N500.
In a statement seen by Nigerians Achor Wednesday in Abuja, Executive Vice Chairman/Chief Executive Officer of FCCPC, Babatunde Irukera, added that the Commission would sanction the group if the proposed plan is true.
Irukera said: “The Commission is also opening an investigation to ensure the purported statement by AMBANN is not truly representative or erroneous. Where evidence demonstrates that the statement is factually accurate, the Commission will take appropriate regulatory steps to address the conduct accordingly.”
According to the Commission, “The Federal Competition and Consumer Protection Commission (FCCPC) has received information from multiple (including credible media) channels that apparently emanates from what appears to be a collective otherwise identified as the Lagos Chapter of the Association of Mobile Money and Bank Agents in Nigeria (AMMBAN).
“The information is an announcement conveying a purported decision of AMMBAN on behalf of certain Point of Sale (PoS) operators which included setting uniform prices across operators for a range of transaction services.
“The Federal Competition & Consumer Protection Act (2018) (FCCPA) recognizes; indeed encourages the prerogative of businesses to organise in, and as trade associations for acceptable purposes, such as ensuring and enforcing applicable standards and best practices, as well as a measure of self-regulation within the profession or trade. However, the same FCCPA copiously and extensively limits the scope and extent of such collaboration, particularly to exclude coordination with respect to scope or supply of services and price of services.
