Confusion Over Proposed N50 Surcharge For POS Payments At Fuel Stations

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There is confusion on the fate of purchasers of petroleum products from filling stations over a publication yesterday stating that beginning from December 1, this year, customers who make petroleum product purchases above N1000, with Point of Sale (POS) banking transaction, may be compelled to pay a N50 fee.

This is said to be a resolution the Independent Petroleum Marketers Association of Nigeria (IPMAN) conveyed in the publication. But ironically, the President of IPMAN, Chinedu Okoronkwo denied the development, saying that he personally did not authorize the publication. “It is not true. (The public notice has) no address and was not signed,” and added that the notice could be the work of fraudsters and did not emanate from IPMAN.

IPMAN members own about 19,000 out of the 25,000 registered filling stations nationwide.  They said their decision was based on a directive of the Central Bank of Nigeria (CBN) dated 17th September, 2019, to all commercial banks that charges of taxes and duties be imposed on all electronic transactions.

They quoted the CBN governor, Mr. Godwin Emefiele in the circular the apex bank issued at the time, saying, “In view of the foregoing, the general public should please note that this additional charge shall be deducted at source by the commercial banks in compliance with the directive above.”


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