Zamfara POS operators charge 10% of new naira withdrawal

Operators of Point of Sales (POS) system in Zamfara State have resorted to the collection of 10 per cent of withdrawals in new naira notes following the scarcity of the redesigned denominations of the currency.

Aisha Magaji, a bank customer who vented her frustration said: “I paid the sum of N500 as a 10 per cent before I was able to collect the sum of N5, 000 from the POS, apart from the normal N100 commission.”

She further lamented: “Where is this country heading to? The rich are getting richer while the poor are getting poorer on daily basis due to mismanagement of public resources.”

She avowed that the situation has gone beyond control as both commercial banks and POS operators were not able to dispense cash to their customers.

“If you ask the reason for such development, the apex bank is blaming the commercial banks and the commercial banks are blaming the CBN for giving out insufficient funds.”

“Then who is fooling who? This is the question the people have to ask the federal government, CBN and the commercial banks,” she said.

Another bank customer, Mohammed Abubakar said that he left his house immediately after the morning prayer on Sunday and still met over 200 people at the bank waiting to access their hard-earned money.

According to Media Talk Africa investigations, shops and malls now hold customers to ransom to exhaust their resources by buying items they do not need in an attempt to avoid taking changes in old notes.