The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has said that its members might need to raise their service fees. This is because of the recent 50% increase in telecom service costs approved by the Federal Government.

Ogungbayi Ganiyu, who is the national public relations officer of AMMBAN, shared this during a chat with DAILY POST on Monday.

He explained that many POS agents depend heavily on telecom services, especially internet data, to do their work. With the new prices, running their businesses will become more expensive.

Even though this increase will affect their operations, Ganiyu said some POS operators might try to cover the cost themselves instead of passing it on to customers.

“The rise in telecom tariffs will definitely affect how our members operate. It may also lead to higher service fees for customers,” he said.

Ganiyu also mentioned that the association has not yet had a meeting to fully review the impact of the new telecom rates.

Meanwhile, the National Association of Telecoms Subscribers has said it will take legal action against the government for raising the telecom tariffs.

For context, the last time telecom prices were increased in Nigeria was in 2013.