POS operators increase charges as scarcity of new notes persists in Kaduna
Point of Sales (POS) operators in Kaduna state upped their commission on money withdrawn as the shortage of fresh notes intensified.
The limited number of POS operators that are still in operation demand higher commissions since they only permit consumers to withdraw up to N5,000, even though many of them have shuttered their business locations due to the shortage of new notes.
The Ibrahim Taiwo Road POS operator Mallam Musa claims, “I charge N400 Naira on N5,000 withdrawal.”
He claimed that he borrowed money from traders because banks and ATMs were not yet able to process withdrawals, and he added that the sum charged included the amount borrowed.
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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.
POS operators increase charges as scarcity of new notes persists in Kaduna
