In response to mounting concerns over the high charges for Point of Sale (POS) transactions on campus, the office of the Welfare recently held a meeting with campus POS vendors. Our goal was to address the widespread dissatisfaction with fees imposed on cash withdrawals, which have become a burden on many students.
The meeting began promptly at 11:30 a.m., opening with introductions before we raised the key issue: the troubling inconsistency in charges, which has been perceived by many students as exploitative. We conveyed the concerns directly, questioning the reasons behind these elevated fees.
In response, the vendors shared their side, citing challenges such as the high operational costs they face, including acquiring cash, labor, and other necessary expenses that influence the service charges. While we understood the constraints vendors face, we remained steadfast in advocating a fairer structure that would ease the financial strain on students.
After a heated back and forth, we are pleased to announce that a compromise has been reached. Below are the updated transaction charges for POS withdrawals on campus, effective immediately:
N500 to N1000 ||N50
N1,100 to N4,400 ||N100
N4,500 to N6,000 ||N150
N6,000 to N8,000 ||N200
N8,000 to N10,000 ||N250
This revised pricing structure is the result of a collaborative effort and reflects our commitment to making daily transactions more affordable for students.
We extend our sincere thanks to you, the student body, for your patience and persistence in voicing these issues. The Union remains dedicated to representing your interests and ensuring that campus life is as conducive as possible.
In solidarity,
[Busari Samuel Timileyin (S&T) ]
Welfare Director, Students Union.
