Business

NIGERIA: FG Seals Banks’ ATMs, POS for Non-compliance with Standards

The Weights and Measures Department of the Federal Ministry of Industry, Trade and Investment has sealed Automated Teller Machines (ATMs) and Point of Sale (PoS) machines of four different banks in the country due to issues of non-compliance with basic standards.
 
The Principal Legal Metrology Officer, and lead enforcer of the agency, Mr. Olusegun Ateji, during an enforcement exercise in Abuja, said the ATM machines belonging to the FirstBank, StanbicIBTC, Zenith and Fidelity Bank and the  Point of Sale (POS) machine of the Automatic Technik Baumaun Nigeria failed to comply with Weights and Measures Act section 7 and 30b, which stipulates that all weighing and measurement instruments must be tested and passed before they can be used for businesses.
 
“Every weighing and measuring instrument must have certificate of verification. The sealed machines do not possess the certificate which will certify that the machines were accurate, fair and legal to be used for businesses” he stated.
 
Also, in another development, the team sealed Point of Sale (POS) machine used for parking vehicles in area three by the consulting firm, Automatic Technik Baumaun Nigeria Limited, because the machine was not registered and verified by Weights and Measures department.
 
The leader of the team explained that the POS terminal need to be registered and verified to ensure that the timing on the device is accurate and fair so that car owners would not be cheated.
 
“The POS must carry certificate of verification to authenticate its accuracy and if not it has contravened weights and measures act.” he stressed.
 
The Director, Weights and Measures Department,  Joseph Sikuade, said the ministry has been interacting with stakeholders to enlighten them on the need to comply with weights and measures act, adding that the recent intervention by the department was geared towards satisfying customers, adding that most of the operators have been complying with the weights and measures act.
 
“Customers are our priority and for them to get value for their money, the Ministry’s responsibility is to ensure accuracy in all transactions, fairness and legal use of weighing and measuring instrument in the country.” Sikuade said.
 
Other banks that have started to comply with weights and measures act are GTB, Heritage Bank and Wema Bank Plc.
 
The verification certificate is mandatory for every marketer to have for its equipment, which is valid for a year and it is usually issued after dispensing pumps had been tested and found to be accurate. 

Leave a Reply