The Association of Mobile Money and Bank Agents in Nigeria (AMMBAN) has indicated that its members might have to raise service charges in response to the recent 50% increase in telecommunications service tariffs approved by the Federal Government.

Ogungbayi Ganiyu, AMMBAN’s National Public Relations Officer, shared this during an interview on Monday, highlighting the challenges posed by the tariff hike.

Ganiyu explained that the operations of mobile money agents are heavily reliant on telecom services, particularly data, making them highly susceptible to the impact of the increased costs.

“The telecom tariff hike will impact the operations of our members. I am afraid this may also have a multiplier effect on service charges,” he said.

Despite the situation, Ganiyu noted that POS operators might attempt to absorb the additional costs rather than immediately passing them on to customers. He added, “We have not sat down and looked at the latest tariff hike.”

In a related development, the National Association of Telecoms Subscribers (NATCOMS) has expressed strong opposition to the tariff increase, threatening to take legal action against the Federal Government.

This marks the first telecom tariff hike since 2013, sparking concerns about its broader implications on businesses and consumers nationwide.