Kwara POS operators hike charges on cash withdrawals
Point of Sale machine operators in Ilorin, Kwara State have increased the charges on cash withdrawals by customers.
A cash withdrawal of N10,000, now attracts N1,000 commission, while N5,000 also attracts the same charge of N1,000, however, some operators charge N500.
Customers of banks in Ilorin formed long queues both at the ATM points and the banking halls to swap their old naira currency notes for the redesigned currencies.
Complaints have also trailed the exchange exercise as customers have continuously found it difficult to cash their money over the counter and from ATMs, most of which still dispense the old naira notes.
The inability of bank customers and residents of the state capital to get the new naira notes has affected business transactions as traders insist on collecting the new currencies instead of cash transfers in some cases.
Visits to major banks in the Ilorin metropolis on Friday indicated that customers were going through the same experience with anger.
Sheriff Adeniyi, a bank customer in a chat with DAILY POST, in Ilorin said humans are selfish beings referring to operators of POS for imposing high charges on customers.
“If you want to buy things now, it is difficult with old naira notes, I can understand that the government is inching toward a cashless economy, which is good but painful and we have to start from somewhere.”
Another customer, Saliu Kazeem, lauded the cashless policy of the Federal Government which he explained will help Nigerians in the end.
He, however, faulted the deadline given by the government and suggested that it adopts a gradual phase-out of the old currencies.
Saliu also sympathized with people in the local government areas of the state, particularly where there are no banking services, asking how they will go about the exchange.
Efforts to reach bank officials failed at the time of filing this report.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Kayode Bankole Arinola Fatimoh Lawal Christopher Ayeni Afetu Of Alabe Shonga Farm Project Kazeem Gbolagade Aminat Omodara Razaq Ayobami Akanbi Ishola Abdullahi Ilofa IHS IF-K Sa\'ad Alanamu Oke-Ode Bola Sagaya 2017 Budget Odo-Owa Students Union Government Amuda Musbau Ijagbo Health Centre Alabi Lawal Tafida Hassan A. Saliu Oba-Solagberu Shoprite Jalala Rotimi Atere Saadatu Modibbo-Kawu Centre For Peace And Strategic Studies Eleja Oniyangi Wahab Olasupo Egbewole Irepodun Kwara State Pension Board Mahee Abdulkadir Kwara State Fire Service Olaoye B. Felix Tunde Oyawoye Yemi Sanni JMK Construction Company Limited Ojuekun Muideen Olaniyi Alalade Bola Ahmed Tinubu Kayode Zubair Hassan Abdulazeez Elewu Mansur Alfanla Prince Sunday Fagbemi Sarah Jubril Lotus Bank NURTW IYA ALFA NLA Gbajabiamila Owode Market Yusuf Aiyedun Funke Adedoyin David Oyedepo Lawyers Unite Against Corruption Ibraheem Abdullateef Oke-Ogun Ayekale Femi Oladiji Matthew Okedare Transition Implementation Committee Isiaka AbdulRazaq Hydro-electric Power Producing Areas Development Commission Ibikunle Ogunleye COVID Tanke Flyover Bridge Jimba Babatunde Mohammed Saidu Medinat Folorunsho Salman Bola Olukoju Stephen Fasakin Adedipe Aliyu Olatunji Ajanaku Chief Imam Of Offa Aisha Buhari