Point of Sale (POS) agents have started upward review of their charges due to the persistent naira scarcity.
Despite the Central Bank of Nigeria (CBN’s) claims of N3.4tr in circulation the action of the POS agents tend to suggest otherwise as some have adjusted their charges between 50% to 100%, depending on one’s location and bargaining power.
Also, several ATMs visited were not dispensing even as bank officials not making promises as when ATMs will continue normal cash dispensing.
However, the POS operators which were the available options for many people have now increased their charges, collecting between N300 and N400 for N10,000 withdrawal instead of the usual N200.
According to a Daily Trust report, POS operators alleged that staff of banks are demanding the sum of N10,000 to get N100,000.
Right now, some operators are charging between N300 and N400 for N10,000, our correspondent further reports.
No cash in the ATM machine of Fidelity Bank by NIMASA Headquarters on Burma Road, Apapa; Access Bank, GTB branches on Burma Road, are also not dispensing.
In Delta, POS operators charge N700 for N20,000. They charge between N200/N300 for N5,000. In some places within Delta State, POS operators charge N300 for N5,000.
Mrs Ese Rebowhe who is a POS operator in Asaba said, “When you go to the bank to collect money, you will not get it as you want; maybe you want to collect N20,000, they will only give you N5000.
In Abeokuta, Ogun State capital, POS operators have increased their charges from N100 to N200 on N5,000 withdrawal, following the naira scarcity in the state.
Findings by our correspondent also showed that commercial banks have pegged the amount of money that can be withdrawn over the counter to N20,000/N50,000.
But at the ATM stands, customers can only make withdrawals of N5,000 to N40,000. “Only Sterling Bank pays N150,000 at the ATM stand and it’s only for the bank’s customers,” a customer said. A POS operator in Abeokuta simply identified as Favour POS told Daily Trust that she now buys cash in order to stay in the business.
“It has affected me a lot. As it is now, I am buying cash. And the reason is that I don’t want to stay at home,” she said.
The Central Bank of Nigeria had on Wednesday assured that there is enough cash in circulation while blaming hoarding for the scarcity. (Daily Trust).
