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PoS Operators Risk N10m Fine Or Imprisonment For Price Fixing 

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The Federal Competition and Consumer Protection Commission (FCCPC) has said Point of Sale (PoS) operators caught for price fixing risk three months jail term or N10million fine.
FCCPC, therefore, issued an order of  cease-and-desist to PoS operators against any conduct that constitutes an infringement on the law.
PoS operators under the umbrella of the Association of Mobile Money and Bank Agents Nigeria (AMMBAN) fixed new prices for PoS transactions on July 17.
According to the commission, PoS operators that are found in violation of the order will pay N10million for corporate entities, and N1million and or a prison sentence of up to three months for individuals.
In a statement signed by its Executive Vice Chairman/Chief Executive Officer, Babatunde Irukera, on Monday, FCCPC said, “The Commission advises PoS operators that violation of an order of the Commission attracts additional consequences apart from the underlying illegal conduct that is the subject of the order such as up to N10,000,000 for corporate entities; and N1,000,000 and or a prison sentence of up to three months for individuals”.
The commission noted that it was not seeking to limit the ability of PoS service providers to determine and set prices for services in a manner of their choosing, subject to Section 127 of the Federal Competition and Consumer Protection Act 2018, which prohibits manifestly unjust or exploitative prices.
According to the commission, it respects and encourages a pricing methodology that is the product of market forces in a free, competitive, and undistorted market.
It, however, noted it was against price fixing that did not provide the consumer with choices.
The commission said, “While the commission continues to provide consideration to, and for small businesses, enforcing the law must remain non-negotiable.
“Accordingly, the commission in escalating this in accordance with the FCCPA and ancillary instruments, has entered an Order & Notice (ONC) of the Commission to AMMBAN, persons identified as executives, members, and non-member PoS operators to Cease and Desist from conduct that constitute an infringement of the law”.
It said the ONC had been served on AMMBAN, adding that not all members could be personally served or would become aware through service on AMMBAN.
It further stated, “In addition, some persons such as non-AMMBAN members may become subject to the ONC.

“Accordingly, the commission has, and is by this again publicly disseminating the ONC. Members are, however, invited to consider the sufficiency of service of the ONC under Section 158(4) of the FCCPA, which deems such service on their association or executives as adequate and acceptable”.

According to the commission, it has tried the cautious and collaborative approach but has now adopted the ONC to convey its will to enforce the law.

It asserted that it would not hesitate to prosecute violators and affiliates who may otherwise be statutorily liable for the conduct of a violating company or business.

It added, “In addition to stipulated statutory consequences, although the commission prefers not to disrupt the business and operations of small enterprises, it will, (if it becomes necessary) prohibit merchant services and privileges to PoS operators or AMMBAN members who persist in conduct that is inconsistent with law and economic efficiency”.

Commenting on this development, the National President of the Association of Mobile Money and Bank Agents in Nigeria, Victor Olojo, told The Tide’s source that the association had not fixed any price.

According to him, the association only released a price guide to prevent agents from taking advantage of Nigerians.

He noted that AMMBAN had received its letter from the FCCPC and had responded accordingly.

He said, “We have over 1.6 million PoS agents, whose cause remains to serve Nigerians. We are not in a price war. We are a self-regulatory body; we only regulate ourselves, and we don’t fix prices.

“What was released by the state chapter was a price guide and not any fixing of prices.

“In fact, the operators we have in Nigeria are in a free market. What was released was a price cap. We advised our agents not to charge beyond that. AMMBAN does not have any regulatory power. We are just an association”.

Olojo noted that AMMBAN has written to the FCCPC and explained its position.

He said, “We are not also taking out the fact that prices cannot remain the same. Fuel price is not the same; transportation price is not the same.

“There is nothing that is the same. So, the FCCPC cannot force an enterprise to sell at a loss. I think their interest is whether we are fixing prices, and AMMBAN is not fixing prices and we are advising our members to remain competitive without charging beyond a certain point”.

He further stated that the association was committed and open to working with the Federal Government and its institutions.

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TTP Trains Customs Agents, Freight Forwarders On Eto App 

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In a concerted effort to tackle racketeering and reduce inflated transportation costs in the Nigeria’s seaports, Trucks Transit Parks Ltd. (TTP) has trained Licensed Customs Agents and Freight Forwarders on the use of its Ètò electronic call-up system.
The training was held recently at Customs Processing Centre (CPC) Auditorium, Apapa, Lagos, in collaboration with the Nigeria Customs Service (NCS) and supported by the leadership of the Joint Association of Licensed Customs Agents and Freight Forwarders (JALCAFF), Apapa Command.
Speaking at the event, Comptroller Babatunde Olomu expressed appreciation to TTP for facilitating the training and emphasized the need for customs agents to take personal ownership of the Ètò booking process.
“I want to thank TTP for this impactful training. I encourage all customs agents to begin doing their own bookings directly. By doing so, they can take back power from the unscrupulous elements exploiting their lack of knowledge, selling tickets at highly inflated prices,” Olomu declared.
He noted that empowering agents with hands-on training was key to dismantling racketeering networks that have plagued access to the ports and frustrated efficient logistics processes.
Also speaking, the Chairman, Apapa Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA), Chief Emeka Chukwumalu, said the engagement was critical to the ongoing push to reduce cargo transportation costs and ease business operations at the Apapa Port.
According to a freight forwarder, “The training is basically for us to have awareness of the operations of the Ètò call-up system through TTP. We also want to brainstorm on ways to reduce the high cost of cargo transportation in Apapa Port.
“This training opened our eyes to how simple it is to book tickets ourselves. We now know the right steps to follow and how to avoid falling victim to fraudsters.”
Earlier, Head of Operations at TTP, Mr. Irabor Akonoman, talked on common misconceptions about ticket pricing, reaffirming that the cost of Ètò bookings had remained consistent since its inception.
“The official price remains the same since inception. What people are paying higher amounts for is the manipulation by racketeers”.

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NECA Holds MSME Fair To Drive Growth 

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Towards strengthening small businesses and promoting a more supportive regulatory environment, the Nigeria Employers’ Consultative Association (NECA) says it will hold the 2025 edition of its flagship MSMEs Fair on Tuesday (May 6, 2025).
The event, themed, “Galvanising MSMEs for Economic Growth and Stability”, will take place at NECA House in Lagos.
According to NECA’s Director-General, Mr Adewale Smatt Oyerinde, the fair seeks to provide micro, small, and medium enterprises with essential tools, resources, and strategic networks to thrive in Nigeria’s challenging business climate.
He emphasised the vital role MSMEs play in national development, describing them as the “lifeblood of Nigeria’s economy.”
Oyerinde noted that the fair is designed to offer entrepreneurs practical solutions to navigate economic uncertainties, regulatory hurdles, and business scalability issues.
A major attraction of this year’s event is the keynote address by the CEO of FATE Foundation, Mrs. Adenike Adeyemi, a prominent advocate for MSME development.
She is expected to share transformative insights on innovative strategies for sustaining and growing small businesses in Nigeria.
A unique feature of the fair will be interactive sessions with key regulatory bodies. Entrepreneurs will engage directly with agencies responsible for licensing, compliance, taxation, and business registration.
NECA said these sessions aim to demystify bureaucratic processes and foster a more enabling business environment.
It also said the fair will provide a platform for entrepreneurs to exhibit their products and services, connect with potential investors, and explore new markets.
It added that participants would gain critical knowledge on digital transformation, access to finance, and strategies for sustainable business growth.
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· NECA stressed that the fair aligns with its broader mission of promoting enterprise development and economic resilience.
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· “By empowering MSMEs with the right support and information, the organisation aims to stimulate job creation, innovation, and long-term economic stability”, NECA said.
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· The 2025 MSMEs Fair is expected to attract a wide range of stakeholders, including financiers, tech experts, regulators, and industry leaders, all united in advancing the growth of Nigeria’s MSME sector.

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Over 2m Passengers Board Blue Rail Train – Commissioner 

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The Lagos State Commissioner for Transport, Mr Oluwaseun Osiyemi, says over two million passengers have been transported on the Blue Line Rail since its launch, while state-run buses move an average of 42,000 commuters daily.
Osiyemi, who disclosed this during the Year 2025 Ministerial press briefing held at the Bagauda Kaltho Press Centre, Alausa, on Tuesday, noted that the Lagos State Transport Policy, launched in May 2024, was now in its implementation phase, focusing on inclusivity, safety, affordability, and sustainability.
“On rail development, Phase One of the Blue Line (Marina to Mile 2) has served over two million passengers, with Phase Two (Mile 2 to Okokomaiko) in progress.
“Phase One of the Red Line (Agbado to Oyingbo) is now operational with eight stations and additional rolling stocks procured, while Phase two (Oyingbo to link Blue Line at National Theatre) is underway”, he said.
The Commissioner said in the state-owned bus operations, over 60 million commuters have been served since 2019, with daily ridership exceeding 40,000.
He also said plans were on to deploy new buses with Quality Bus Corridors under construction, adding that the Abule=Egba Bus Terminal had also been commissioned.
“For water transport, 15 locally-built Omibus Ferries have been launched and are in operation, with the Ijegun Egba Terminal now open.
“The OMI EKO project, in partnership with the French Development Agency (AFD), will deliver 25 terminals and 78 electric ferries.
“Over 280,000 passengers have used ferry services in the past year, and 12 boats have been upgraded to meet safety standards”, he said.
On road infrastructure and traffic management, the Commissioner said 49 junction improvement projects had been completed, including ongoing ones at Ikorodu, Iju, as well as Allen-Opebi-Toyin axis.
He added that solar-powered Traffic Signal Lights, road markings covering 67.9km, new medians, laybys, and 3,941 parking lots had also been provided.
Additionally, Osiyemi announced that the deployed Automatic Number Plate Recognition cameras had detected over 470,000 traffic violations and that the Vehicle Inspection Service issued over one million roadworthiness certificates.
He also said that the Lagos State Drivers’ Institute trained more than 32,000 drivers in the past 13 months.
The event marked the second anniversary of Governor Babajide Sanwo-Olu’s second term, showcasing major strides in the transport sector under the THEMES+ agenda.

Nkpemenyie Mcdominic, Lagos

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