The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will sanction fuel stations that reject the use of point-of-sale (POS) machines or bank transfers at their outlets.
Mr. Kimchi Apollo, General Manager, Corporate Communications and Stakeholders Management, NMDPRA, contained this in a statement on Thursday in Abuja.
The NMDPRA is taking decisive action to ensure that fuel stations comply with the new regulations and accept payment through POS machines or bank transfers. This is to ensure a smooth transition into a cashless economy, reduce corruption, and increase efficiency in the sector. It also serves as a deterrent for any retail outlets that may be tempted to take advantage of customers during this period of uncertainty.
The statement frowned at the act by the retail outlets due to the recent cash crunch brought about by the new Naira design.
“It has come to the attention of the NMDPRA that some retail outlets are not accepting the use of POS machines at their fueling stations due to the recent cash crunch brought about by the new Naira design.
“The authority frowns at this recent behavior, 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,” he said.
Apollo, therefore, directed all retail outlets to ensure the free use of POS and bank transfers for the sale of petroleum products to alleviate the suffering of customers.
He said the authority and security agencies would be at retail outlets to enforce compliance with the directive, warning that defaulters would be sanctioned.
In addition, Apollo stated that “the Authority will not hesitate to sanction any erring outlet found wanting in its compliance with these directives.” He further warned retailers against engaging in fraudulent activities such as hoarding or price gouging, which could lead them into serious trouble if caught by law enforcement agents monitoring their operations.