Economy

SOME residents of Lokoja have claimed that some POS operators in the state capital are charging too much to pay customers with the redesigned naira notes.

Investigations conducted by the News Agency of Nigeria (NAN) in Lokoja on Tuesday showed that customers were paying 10 per cent on every withdrawal. 

But some POS operators said that the sharp increase in their service charges was due to difficulty in accessing the new notes from the commercial banks.

“If you know what we go through to get money from our banks to do this business, you will not complain nor blame us for the increased charges , one of the POS operators at Lokongoma quarters simply called Ms Joy, said.

She sais: “If I tell you that for good three days I had no cash to do business, you may not believe me. Only today that I could open this my shop for business,

“The problems and struggle associated with getting money from the bank to pay customers who only want to withdraw is something else.

“There wouldn’t be much problem in paying cash to those withdrawing if other customers are paying but unfortunately the focus is on taking the old notes to the bank for new notes, ” she explained.

Mr Abdulrazak Ibrahim, at Natako quarters, said that he was acting on the directive of his master and so he could not reduce the charges.

“The 10 per cent charge on each withdrawal from us is based on agreement among POS operators in the state.

“Go anywhere in Lokoja to withdraw money on POS and you will pay the same service charge,” Ibrahim asserted.

But some customers who spoke to NAN on the issue described the incident as “rip-off”.

Mrs Victoria, a civil servant, who expressed concern over the situation, said that the exploitation strategy adopted by POS operators was uncalled for “since the scarcity is not any fault of the Nigerian citizens”.

To Alhaji Usmam Jimoh, the “situation calls for a rethink on the side of the POS operators and the commercial banks to do something drastic to change the tide.

“I wish to appeal to the Federal Government particularly the CBN and the commercial banks, to adopt a better strategy in withdrawing the old naira notes from circulation that will be stress-free”.

NAN reports that in spite of the 10 days extension by CBN on the collection of old naira notes, the ATMs points and banking halls in the commercial banks in Kogi are always filled up with prospective customers in search of the redesigned naira notes.(NAN)

A.I

Tags: Mr Abdulrazak Ibrahim