PoS operators make brisk business, surcharge for new naira notes

News Express |27th Jan 2023 | 391
PoS operators make brisk business, surcharge for new naira notes

PoS operator trending to a customer



By GINIKA OKOYE

Some Point of Sale (PoS) operators in satellite towns of the Federal Capital Territory (FCT) are making brisk business with the new naira notes.

The News Agency of Nigeria (NAN) reports that the Central Bank of Nigeria (CBN0 has fixed Jan. 31 as the deadline for the use of the old naira notes.

Some of the Pos outlets visited in Nyanya, Mararaba and Karu areas of the territory were either not dispensing the new notes or charging extra cash for them.

Miss Dera Akoh, an operator in Nyanya was charging N200 for each N2,000 new notes dispensed.

She decried that banks were not also dispensing enough new naira notes to them.

“For every N2,000 you withdraw, the customer will pay me N200.

“It is very difficult for us to get the new notes even in banks.

“I went to the bank yesterday and they gave me new notes for only N5,000. It is not our fault,” she said.

Another operator, Mrs Peace Akande, also in Nyanya, said she charged N150 for every N1,500 withdrawn.

She appealed to CBN to institute a monitoring mechanism for banks to ensure that they were not using the new naira notes for other businesses to the detriment of the masses.

Mr Isah Abdullahi, a PoS operator at Mararaba, said he did not have new notes to pay customers.

He appealed to the customers to withdraw only what they could spend before the deadline for the use of the old naira notes elapsed.

Mr Anthony Ali, a resident of a community in Lugbe area, said that operators were charging N500 for every N5,000 withdrawn.

“Throughout yesterday in Lugbe, if you want to collect N5,000, the operators will pay you N4,500 and collect their N500 charge as against N100 which they usually charge.

“This is very frustrating. CBN needs to step up their actions.

“They should make these new naira notes available for people to use,” he said.

NAN reports that the Automated Teller Machines (ATMs) in most banks visited along the Central Area, FCT, were not dispensing cash.

Some customers seen at Sterling and First Banks along the area regretted that the new notes were not in full circulation.

They urged CBN to make the notes available for people to access and use with ease.

NAN further reports that there have been appeals from various quotas to the CBN to extend the Jan. 31 deadline for the collection of the old naira notes. (NAN)

Comments

Post Comment

Sunday, September 21, 2025 8:30 AM
ADVERTISEMENT

Follow us on

GOCOP Accredited Member

GOCOP Accredited member
logo

NEWS EXPRESS is Nigeria’s leading online newspaper. Published by Africa’s international award-winning journalist, Mr. Isaac Umunna, NEWS EXPRESS is Nigeria’s first truly professional online daily newspaper. It is published from Lagos, Nigeria’s economic and media hub, and has a provision for occasional special print editions. Thanks to our vast network of sources and dedicated team of professional journalists and contributors spread across Nigeria and overseas, NEWS EXPRESS has become synonymous with newsbreaks and exclusive stories from around the world.

Contact

Adetoun Close, Off College Road, Ogba, Ikeja, Lagos State.
+234(0)8098020976, 07013416146, 08066020976
info@newsexpressngr.com

Find us on

Facebook
Twitter

Copyright NewsExpress Nigeria 2025