Nigeria POS Business GROUP

Nigeria POS Business GROUP THIS FORUM IS FOR ALL POS BUSINESS AND AGENCY BANKING BUSINESS IN GENERAL. WE DELIVER POS TO YOU ANYWHERE YOU ARE.

COACHING AND MENTORSHIP FROM OUR OVER 6 YEARS EXPERIENCE IN THE BUSINESS

FOUNDED BY EUPTIONS LIMITED

🇳🇬 Standard Chartered Bank to Close Accounts With Less Tham 7.5m in NigeriaStandard Chartered Bank has announced plans t...
11/11/2025

🇳🇬 Standard Chartered Bank to Close Accounts With Less Tham 7.5m in Nigeria

Standard Chartered Bank has announced plans to close customer accounts in Nigeria that hold less than ₦7.5 million.

According to reports, the bank wants to focus on wealthy clients and corporate customers, as part of its new business strategy. Many smaller account holders have already received notices asking them to withdraw their money or transfer it to another bank.

This move is seen as part of a wider trend where international banks in Nigeria are reducing retail banking services due to high operating costs and low profitability.

Experts say this decision could affect small business owners and middle-income customers who use Standard Chartered for savings or transactions.

However, the bank says it will continue offering digital banking and investment services for qualified customers who meet the new minimum balance requirement.

What Banks Really Do With Your MoneyMost people think banks simply “keep” their deposits safe, but that’s not the full s...
24/09/2025

What Banks Really Do With Your Money

Most people think banks simply “keep” their deposits safe, but that’s not the full story. Banks actually make money by using what is called OPM – Other People’s Money. Here’s how it works:

How Banks Use Your Deposits

When you deposit ₦100,000, the bank doesn’t just leave it in a vault.

By law, they keep a small portion (called the Cash Reserve Ratio) with the Central Bank of Nigeria (CBN).

The bulk — sometimes ₦70,000 or more — is given out as loans to individuals, companies, or government institutions.

The bank then earns money from the interest charged on those loans.

This explains why banks encourage people to save — your deposits are the raw materials for their business.

Other Ways Banks Make Money

Apart from loans, banks also earn revenue through:

Treasury Bills and Bonds – lending money to the government.

Foreign Exchange (FX) trading.

Mutual Funds and Investment Products.

Account maintenance fees – such as charges for ATM cards, transfers, SMS alerts, and service fees.

Still, loans remain the biggest profit source for most banks.

The Risk: Bad Loans

Not all loans are repaid. A loan that can no longer be recovered is called a “bad loan.”

When too many loans go bad, banks face liquidity issues.

This is one reason you sometimes hear “no network” when you try to withdraw — not always because of technology, but because cash may be tight.

The Bank Run Problem

If every customer walked in and demanded their deposits at once, banks wouldn’t be able to pay.

Why?

Because your money is no longer sitting there — it has been invested or loaned out.

This situation is known as a bank run, and it can collapse even the strongest banks.

Why You Should Care

I’m sharing this for two reasons:

1. To help you understand how banks truly operate.

2. To inspire you to start thinking like a bank — learning how to use your money and even other people’s money (OPM) to build wealth, instead of only keeping it in the bank where it mostly benefits the bank.

In short: banks don’t just save money.

They'll multiply it.

You can also learn to do the same.

Opay is changing how agents and merchants meet their weekly targets Initially, it was 210 naira card withdrawal weekly ...
30/08/2025

Opay is changing how agents and merchants meet their weekly targets

Initially, it was 210 naira card withdrawal weekly

You could do 210 or more once and you're qualified fro the week, but the new rule is making certain numbers of card withdrawals per week

You could do 2 million naira now and still not qualify

Which do you think is better?

New CBN Rule: All PoS Machines Must Be Geo-TaggedThe Central Bank of Nigeria (CBN) has released a new directive that aff...
30/08/2025

New CBN Rule: All PoS Machines Must Be Geo-Tagged

The Central Bank of Nigeria (CBN) has released a new directive that affects every PoS business and agent in the country.

What the Rule Says

All PoS terminals must be geo-tagged (linked to their exact business location using GPS).

Each terminal can only work within 10 metres of its registered business address.

Deadline: 60 days from now. After this period, any PoS not geo-tagged will stop working.

From October 20, 2025, banks and fintechs will start compliance checks.

By October 31, 2025, all PoS transactions must also follow the new ISO 20022 messaging standard (a new global payment format).

Why CBN is Doing This

To fight fraud and stop cloned or fake PoS terminals.

To trace every transaction to a specific location.

To improve safety and make Nigeria’s payment system meet international standards.

What This Means for You as a PoS Agent

1. Your terminal must support GPS

If your current PoS machine does not have in-built location services, you may need to upgrade or replace it.

2. You must register your correct business address

Transactions outside the 10-metre radius will fail. This could affect mobile agents who move around.

3. Possible extra costs

Some agents may need to buy new PoS machines or pay for upgrades through their provider.

4. Business impact

Fixed kiosks and shops may not feel much change.

Agents who work in markets, malls, or move around with their PoS may face challenges.

âś… What You Should Do Now

Contact your PoS service provider (bank or fintech) to ask if your device is compliant.

If not, find out the upgrade or replacement options available.

Make sure your business address is correctly registered in the system.

Start preparing now to avoid disruption when the rule kicks in.

👉 In short: If your PoS isn’t geo-tagged by October, it will stop working.

9Mobile Changes Name to T29mobile Rebrands to T2On August 8, 2025, Nigeria’s fourth-largest telecom operator, formerly k...
09/08/2025

9Mobile Changes Name to T2

9mobile Rebrands to T2

On August 8, 2025, Nigeria’s fourth-largest telecom operator, formerly known as 9mobile, officially unveiled its rebranding to T2 at a launch event held at Eko Hotels and Suites (or Eko Convention Centre) in Lagos .

CEO Obafemi (Femi) Banigbe described the transformation as more than a new name—it marks the start of a bold, digital-first chapter. The shift is aimed at positioning T2 as a youthful, customer-obsessed, and innovation-driven platform for Nigeria’s digital economy .

The rebrand comes one year after LH Telecommunication Limited acquired controlling stake—about 95.5%—in the company .

T2 is pivoting to a digital-first model, leveraging technologies like cloud infrastructure, artificial intelligence, and advanced analytics to better serve its target segments—startups, creatives, remote workers, and other digitally minded Nigerians .

A three-year national roaming agreement with MTN Nigeria, approved by the NCC, is a key part of the strategy—this will allow T2 customers to access MTN’s extensive network, significantly enhancing coverage, especially in underserved areas .

Brand identity shift:

The rebranding includes a new visual identity—moving away from the familiar green colour scheme to a bold orange, symbolizing the company’s renewed energy and market ambition .!

08/08/2025

If you die your Next of Kin Won't Get Your Money

Do this instead

08/08/2025

This latest Rapid Agent update is bad

The old app is better

Firstmonie should do better pls

This ad is not from opay... This is from scammers How did I know?I'm an Opay Aggregator I recruite businesses and agents...
17/07/2025

This ad is not from opay... This is from scammers

How did I know?

I'm an Opay Aggregator

I recruite businesses and agents for Opay

I deploye Opay POS

ATM 🏧 Cards

Opay Customer Care Center

So I should know

19/02/2025

My take on the CBN 100k maximum withdrawal limit per card

POS Transactions Bigger Than ATM Transactions in 2024
26/01/2025

POS Transactions Bigger Than ATM Transactions in 2024

23/01/2025

Agency Banking New CASH-OUT Limit REGULATIONS Extended.

Firstmonie made this known via email it sent to her agents.

It reads...

Dear Firstmonie Agents,



Following recent engagements with stakeholders in the agent banking industry, the new cash-out limit regulations at agent locations will go live on February 1st, 2025.

This extension provides sufficient time for all participants in agent banking to adapt and prepare for the upcoming regulatory changes which will go live on February 1st 2025.

Address

High Court Road, Corner Shops Zuba Garage Abuja
Abuja

Telephone

+2348020743052

Website

Alerts

Be the first to know and let us send you an email when Nigeria POS Business GROUP posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Contact The School

Send a message to Nigeria POS Business GROUP:

Shortcuts

Share

Category