RateCaptain
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
Subscribe
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates
No Result
View All Result
RateCaptain
No Result
View All Result
Home Business

FCTA bans POS operators from residential areas

Rate Captain by Rate Captain
January 27, 2023
in Business
Reading Time: 1 min read
A A
0
FCTA bans POS operators from residential areas
Share on FacebookShare on TwitterShare on WhatsappShare on Telegram

The federal capital territory administration (FCTA) has ordered point of sale (POS) operators to limit their operations to commercial zones.

Umar Shuaibu, coordinator of the Abuja Metropolitan Management Council (AMMC), issued the directive on Wednesday.

AlsoRead

CBN Directs International Money Transfer Operators to Open Naira Settlement Accounts with Local Banks

Central Banks Ramp Up Gold Purchases as Geopolitical Risks Fuel De-Dollarisation Drive

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

Shuaibu said the administration would not allow operators to illegitimately occupy sensitive areas that are not designated for commercial purposes.

He said the indiscriminate operations of POS merchants were posing a threat to security in the country’s capital and would no longer be tolerated.

AMMC coordinator explained that the Abuja master plan was systemically structured to depict a full-time residential neighbourhood concept devoid of any commercial activity.

“We have neighborhood centres and city centres, all of these centres have commercial areas, so whatever someone needs within the neighbourhood provided is within the neighbourhood centres is available, no need to take over the street, that is how the master plan was designed,” Shuaibu said.

“Financial services are brought closer to the people because of the CBN cashless policy that is why we have POS operators, let there be sanity.

However, there are challenges, the point of sale operators do not operate in the areas that they are supposed to operate, according to the provision of the master plan.“

Shuaibu said POS operators would now be concentrated in commercial hubs like plazas, markets, supermarkets, and gas stations.
He advised the operators to liaise with owners of the locations to ply their trade at their premises.

“Going forward, all operators must shift to commercial locations,” he said.
“This will assist in reducing insecurity.”

Previous Post

New Naira: Bank ATMs and POS stop dispensing cash

Next Post

Nigerians become enraged by the scarcity of the new naira note.

Related News

NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Directs International Money Transfer Operators to Open Naira Settlement Accounts with Local Banks

by Stephen Akudike
March 25, 2026
0

The Central Bank of Nigeria (CBN) has issued a new directive requiring all International Money Transfer Operators (IMTOs) operating in...

Central Banks Ramp Up Gold Purchases as Geopolitical Risks Fuel De-Dollarisation Drive

by Stephen Akudike
March 25, 2026
0

Central banks worldwide are stepping up their gold-buying activities at a notable pace, with emerging market giants China and India...

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

Showmax’s Costly Gamble: Platform loses $2.50 for Every $1 Earned in Revenue

by Stephen Akudike
March 10, 2026
0

Showmax, once positioned as Africa's homegrown challenger to global streaming giants like Netflix, has become a stark case study in...

FCMB Group Plc Reports Remarkable 108% Year-on-Year Profit Growth in 9M 2023

FCMB Group Completes N500bn Recapitalisation, Secures International Banking Licence

by Stephen Akudike
March 10, 2026
0

FCMB Group Plc has successfully met the Central Bank of Nigeria's (CBN) revised minimum capital requirement of N500 billion for...

Next Post
Nigerians become enraged by the scarcity of the new naira note.

Nigerians become enraged by the scarcity of the new naira note.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Nigeria’s Opportunity: Navigating Global Oil Surge Amid Libya’s Top Oilfield Disruption

US Cuts Nigerian Crude Imports by Nearly 50% in January 2026

March 30, 2026
NEC Affirms CBN $3 Billion Loan for Naira Stability

CBN Blacklists Chronic Loan Defaulters, Bars Them from Banking Services

March 27, 2026

Popular Story

  • NEC Affirms CBN $3 Billion Loan for Naira Stability

    CBN Blacklists Chronic Loan Defaulters, Bars Them from Banking Services

    0 shares
    Share 0 Tweet 0
  • Naira Strengthens to N1,355/$ on Monday, Marking Strongest Level in Four Weeks

    0 shares
    Share 0 Tweet 0
  • Naira Strengthens 4.31% in February Despite Late-Month CBN Intervention

    0 shares
    Share 0 Tweet 0
  • NGX Records 8.76 Billion Shares Traded in Three-Day Week as ICT Sector Dominates Activity

    0 shares
    Share 0 Tweet 0
  • Dangote Refinery Imported $3.74 Billion Worth of Crude in 2025 – CBN Data Reveals

    0 shares
    Share 0 Tweet 0

RateCaptain

We bring you the most accurate in new and market data. Check our landing page for details.

  • Home
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Disclaimer
  • Cookie Policy
  • Contact Us

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

No Result
View All Result
  • Home
    • About Us
    • Contact Us
  • FX Rates
  • Money Market
  • Cryptocurrency
  • Commodities
  • Corporates

Copyright © 2022 RateCaptain - All rights reserved by RateCaptain.

RateCaptain
Manage Cookie Consent
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
  • Manage options
  • Manage services
  • Manage {vendor_count} vendors
  • Read more about these purposes
View preferences
  • {title}
  • {title}
  • {title}
?>