The Association of Mobile Money & Bank Agents in Nigeria (AMMBAN) has hinted at a possible increase in service charges by its members due to the recent 50% hike in telecommunications service tariffs approved by the Federal Government.

Ogungbayi Ganiyu, AMMBAN’s National Public Relations Officer, shared this development during an interview with DAILY POST on Monday.

According to Ganiyu, the operations of mobile money and bank agents heavily rely on telecom services, particularly data, making them vulnerable to the new tariff adjustment.

“This telecom tariff hike will significantly affect our members’ operations. Unfortunately, it could lead to a corresponding increase in service charges,” Ganiyu warned.

However, he added that Point of Sale (POS) operators might initially try to absorb the additional costs instead of immediately passing them on to customers.

“We haven’t yet convened to fully assess the impact of this tariff hike, but there’s no denying it will affect our business operations,” he noted.

Meanwhile, the National Association of Telecoms Subscribers (NATCOMS) has vowed to challenge the Federal Government’s decision in court, arguing that the tariff hike unfairly burdens consumers.

The last telecom tariff increase in Nigeria occurred in 2013, making this the first in over a decade—a move that has sparked widespread criticism and concerns about its ripple effects on businesses and consumers alike.

Stay tuned for updates as this story unfolds!