Consumer Protection Commission lauds CBN


The Federal Competition and Consumer Protection Commission (FCCPC) on Tuesday commended the Central Bank of Nigeria over its resolve to stop the payment of N50 stamp duty to merchants by consumers.

The commission, in a statement, said it will collaborate with CBN, relevant regulators and law enforcement authorities to enforce the law.

It also implored consumers to report violations of the law when they occur with evidence of such violations.

Controversial charges

PREMIUM TIMES reported how the CBN urged merchants who operate Point of Sale (POS) machines for cashless transaction to stop the collection of N50 charges from their customers.

The CBN made the clarification amidst confusion generated by merchants and other businesses operating POS machines to charge their customers an…



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