POS Operators Increase Charges As Scarcity Of New Notes Persists

Date: 31-01-2023 3:26 pm (1 year ago) | Author: Bayo Nelson
- at 31-01-2023 03:26 PM (1 year ago)

Point of Sales, POS, operators in Kaduna state have increased their commission on money withdrawn as the scarcity of new notes worsened in the state . Although several POS operators have locked their business outlets following the scarcity of new notes, the few ones operating charged higher commissions as they only allowed customers to withdraw a maximum of N5,000.

According to Mallam Musa, a POS operator along Ibrahim Taiwo Road, “I charge N400 Naira on N5,000 withdrawal.. According to him, he took a loan from traders since banks and ATMs were not ready to dispense money, adding that the amount charged included the money borrowed. Also, Mrs. Rose Musa, who operates in Kakuri, said customers pay between N200 and N300 on withdrawals between N2000, N3,000, adding that she took a loan from a cooperative society.

According to her, the banks are not ready to give out new notes as the scarcity persists. Alhaji Mustapha, who said he withdrew N100,000 from a POS operator in Nasarawa, said he paid N8,000 as commission. Meanwhile, customers flooded ATMs across the metropolis, waiting and expecting new currency, just as those who were frustrated looked for POS operators to make urgent withdrawals.

Posted: at 31-01-2023 03:26 PM (1 year ago) | Addicted Hero
- kp45 at 31-01-2023 03:50 PM (1 year ago)
Online (m)
Failed government and failed policy, no tactical plan, no new note and to even get the rejected old note one need to pay heavily causing planned inflation in the greater population.
Posted: at 31-01-2023 03:50 PM (1 year ago) | Addicted Hero
- gogoman at 31-01-2023 11:58 PM (1 year ago)
 Roll Eyes Roll Eyes Roll Eyes
Posted: at 31-01-2023 11:58 PM (1 year ago) | Grande Master