Following the Central Bank of Nigeria’s (CBN) new naira notes swap policy, POS operators have resorted to abusing Nigerians.
Prior to the policy’s implementation, POS operators charged N100 for every N1000 cash withdrawal, but this has since changed.
According to news reports, POS providers now charge between N300 and N400 for every N1000 withdrawn through the terminal.
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This new step was seen by Newsmen while attempting to make a withdrawal in Abuja’s Apo Resettlement neighborhood.
While numerous POS operators were observed to have closed their doors, the ones that remained were charging high fees.
In an attempt to make withdrawal in Apo Resettlement, a POS operator told our correspondent: “We now charge N300 for every N1000 you withdraw from here, and the reason is that there is no money. Some of us have to stay long on queues in banks to use their ATM.”
Another POS operator lamented that they were buying the money.
“There is no money anywhere, some of us have to resort to buying this money, and this is one of the reasons our charges are high,” she said.
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Asked if the charges are for the new naira notes alone, she said no, adding that “both old and new naira notes are the same thing; naira is very scarce now. It’s difficult to come by, so we charge N400 for every N1000 on both old and new.”
A client identified as Dorcas told Newsmen that the Central Bank of Nigeria’s new policy was “a diabolical policy.”
Stressing that the policy was of no benefit to Nigerians, Dorcas said: “This policy by the CBN is devilish because it’s of no benefit to Nigerians. I walked from Amazing Grace Plaza inside Apo Resettlement to this entrance and most of the POS outlets have closed down because there is no money.
“You have the money in the bank but can’t withdraw because of this policy, not to talk about the N300 to N400 naira charges on every N1000 withdrawal.”
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Commenting on the situation, a staff of FCMB alleged sabotage.
“The only way is for the CBN to increase their supply of the new naira notes,” he said.
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