The Association of Mobile Money & Bank Agents in Nigeria (AMMBAN) has indicated that its members may be forced to increase service charges in response to the Federal Government’s recent 50 per cent telecommunications services tariff hike.
The warning was issued by Ogungbayi Ganiyu, AMMBAN’s National Public Relations Officer, during an interview with journalists on Monday.
He explained that mobile money and POS operators rely heavily on telecom services, particularly data, for their daily operations, making them highly vulnerable to cost increases.
“The telecom tariff hike will impact the operations of our members. I am afraid this may also have a multiplier effect on service charges,” Ganiyu said, adding that the association has not yet conducted a detailed review of the new rates.
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He noted that some POS operators might initially absorb the additional cost but acknowledged that a pass-through to customers remains likely.
The development comes amid growing tension over the tariff increase, with the National Association of Telecoms Subscribers (NATS) announcing on Monday its intention to take legal action against the Federal Government over the 50 per cent hike.
Industry observers warn that the combined effect of higher telecom costs and potential increases in mobile money service fees could affect millions of Nigerians who rely on digital financial services for everyday transactions, including payments, transfers, and small business operations.
Ganiyu emphasized that AMMBAN is monitoring the situation closely and will engage stakeholders to mitigate the impact on end-users where possible, but cautioned that service charge adjustments may be unavoidable if telecom costs remain elevated.