April 10, 2023

Cash availability: Some PoS operators still charge exorbitantly

Relief for Nigerians as banks dispense, accept old Naira notes

Some Point of Sale (PoS) operators are still charging above the usual service charge in spite of the Central Bank of Nigeria (CBN’s) directive.

The News Agency of Nigeria (NAN) correspondent who monitored some PoS Points in the Federal Capital Territory (FCT) satellite towns reports that they charged between N300 and N200 for N5,000 withdrawn.

Mr Romanus Chukwu, a customer seen at one of the points in Nyanya, said the charge was still much when compared to what it was before the cash crunch.

Chukwu appealed to the operators to return to the usual charge of N100 for every N5,000 and N10,000 withdrawn.

Another customer, Mrs Agnes Ike, appealed to the CBN to look into the situation to curtail extortion by operators.

Meanwhile, a PoS operator in Nyanya who pleaded anonymity, said the high cost was still as a result of insufficient fund given to them in the banks.

”Some banks will give you only N20,000 while some will give N40,000.

”Sometimes, I go to three banks to be able to get the money that I will use for my business, so, I include all my expenses in the charges,” she said.

NAN reports that the CBN had said it would withdraw the licences of PoS agents found culpable of inflating charges on customers who withdraw money from them.