The social media space has been filled with outrage following the sudden introduction of a 10% charge per transaction by Point of Sales (POS) operators across the country.
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iBrandtv reports that Nigerians been experiencing a scarcity of cash in the last few weeks following the CBN cash swap Policy.
The Central Bank of Nigeria (CBN) had a few weeks ago introduced the newly redesigned N200, N500 and N1000 denominations across the country.
The apex bank had also directed commercial banks to fill their Automated Teller Machines (ATMs) with the newly redesigned naira notes.
The apex bank through its Governor, Mr. Godwin Emefiele, stated that all banks are to accept the deposit of old Naira notes without charge and load ATMs with the redesigned banknotes.
The CBN also extended the deadline for the exchange of the old banknotes for the newly redesigned ones to 10th February.
However, it was gathered that POS operators across the country have increased their transaction charges to ten per cent.
Thie increase has been attributed to the shortage of cash (both old and new notes) in the last few days, because of the inability of some of the ATMs to dispense and the inability to withdraw money in the banking halls.
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Following the situation, POS operators who usually charge N200 for a withdrawal of N10,000 and N100 for N5,000 now charge
N1,000 and N500 respectively for the same amounts.
This development has stirred massive outrage on social media as Nigerians via their handles air their grievances.
According to many, POS operators no longer collect charges but tithe.
See reactions gathered:
God dey collect 10% POS people dey also collect 10% una and God dey do competition now. Dey play pic.twitter.com/rpt8R836J4
— E for Eddie🐘🇧🇪 (@17EddieEdward) February 2, 2023
After using 10k to collect 50k from #POS.😫 pic.twitter.com/NaTOKnsND8
— shinene ✨ (@abioye081) February 2, 2023
https://twitter.com/e_illiterate/status/1621043251666116608?s=21&t=XJAZBBPjcN1Qyp4uFyqyLA
https://twitter.com/mr_gosworld/status/1620479355477700611?s=21&t=XJAZBBPjcN1Qyp4uFyqyLA
POS for front of ATM Machine 🤦🏾🤦🏾
1200 for 10k withdrawal 🥶🥶🥶🥶Nigeria 🇳🇬 how far ??????????? pic.twitter.com/gY05DoH8kD
— KING OF ALL SPORTS (@Emmanuel_Tips) February 2, 2023
The naira is gaining against the naira in the POS parallel market
— $Hydra (@XBrianDennis) January 31, 2023
