FCT PoS operators seek clarity on new tax regime

Anxiety is mounting among Point of Sale (PoS) operators in Abuja, FCT, over the uncertainty of transaction charges following the implementation of a new tax regime.

Abuja Metro reports that the tax charges introduced by the federal government took effect on January 1, 2026.

A cross section of operators interviewed by Abuja Metro expressed concern over how the charges would affect their business.

They said the uncertainty led several operators to temporarily close shop on the day the policy commenced.

Idris Ibrahim, in Dei-Dei community, said he was hesitant to open for business last Thursday, the initial day of the tax rollout, and that when he resumed the following day, he increased his transaction fees by N100 as a precautionary measure to avoid losses.

He said, “For instance, I am now charging N300 for a N10,000 withdrawal, compared to the previous charge of N200. Because of this upward review, I have been losing many customers.”

Lurwanu Muhammad, a Business Relations Manager (BRM) for a digital microfinance bank and Secretary of the Dei-Dei chapter of PoS operators, shared similar concerns.

He said the majority of their members were yet to register with the Corporate Affairs Commission (CAC), which was now a mandatory requirement for the business.

Muhammad explained that some microfinance banks issued circulars warning that unregistered operators could have their accounts suspended at any moment.

He added that, “We were also told that any transaction exceeding N800,000 would be taxed based on annually realised income. A single operator in the Dei-Dei livestock market can process up to N50m a day due to the nature of the cattle business.

“However, the highest we charge for a N1m transaction is N3,000. These factors have thrown our members into panic.’’

He, therefore, called on the Central Bank of Nigeria (CBN) and commercial banks to provide more enlightenment to ease the tension.

Another PoS attendant based in Kubwa, Ibrahim Buhari, noticed a new N50 charge introduced on money transfers, specifically affecting the sender.

He said it meant an upward review from a previous policy introduced a year ago, where the receiver was charged N50.

He noted that their union was deliberating on how to strategise under the new regulations.

Reacting to the development, a Kubwa resident, Boniface Okpe, urged the government to exempt small-scale transactions on microfinance platforms from the new tax regime to protect low-income earners.

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