POS operators make brisk business in Enugu as the deadline for the old naira notes gets closer.
Our correspodent reports that the Central Bank of Nigeria fixed the deadline for January 31. The pressure has made the demand for the new naira notes higher.
Businesses have been on the low as sellers and service providers insist on the new naira notes. Following the demand, various bank ATMs are being overstretched.
“We are being exploited,” a student, Titus Eze, said. “Even to buy food, the vendors will demand new naira notes. POS operators charge N1, 500 to issue N10, 000. They claim that they buy the new notes from banks.”
A POS operator at Otigba junction, Enugu, said he issues both old and new notes.
According to him, “If a customer wants old notes, I give them at the normal rates. But when it is the new notes, the charges differ. We source these notes from banks on special request.”
A food vendor at New Haven junction said she had stopped collecting old naira notes because POS operators refuse the deposits.
According to her, “I don’t want to be the victim. The notes are scarce because of the limited amount one can withdraw from ATMs in a day. I don’t collect those notes again. It has also adversely affected our business.
“When you collect old notes, POS operators will refuse to collect them from us. Or they charge higher. The best is to avoid the trouble. The stress in going to banks is very high.”
Meanwhile, some residents waited till late in the night to withdraw cash from ATMs when the crowd would have reduced.
Chioma Ugwu, a civil servant, said, “I had to go to a bank along Okpara Avenue around 11pm on Saturday to withdraw cash. I will travel Sunday morning, and I envisage that the rush will be high.”