MOBILE MONEY GETS BOOST AS RESTRICTION ON TELCOS

of the device and customer usage. The banking sector regulator also attributed the network interruptions partly to the duplication of the device.

“At one merchant location you can have 10 and the merchant needs only one. So, technically speaking you have just given them PoS terminals that would not work. So, what we are doing now is to clean up and to say we don’t want to see more than two PoS terminals in any location.

“What we do is to make sure that if a terminal is there and it is not doing any transaction, we deactivate it. So, any terminal that has not done transaction in the last three months is considered not active and what we do is to deactivate it. Once we deactivate it, we now have the true number of PoS terminals that are working in the country,” Jimoh explained.

He said the deactivation process is on-going, adding that it is being by the Nigerian Interbank Settlement System (NIBSS), which is the aggregator is the organisation handling that. “NIBSS is the aggregator and is the one that knows the terminal that has not been active,” he added.