Ebonyi PoS operators express worry over naira scarcity, calls for CBN intervention

The Point of Sale (PoS) operators in Abakaliki, Ebonyi capital, have expressed worry over the the current naira scarcity, calling on the Central Bank of Nigeria (CBN), to intervene to save their business from collapsing.

In  separate interviews with our reporter on Wednesday in Abakaliki, they blamed the scarcity on banks’ refusal to release enough money.

It was reported that charge for withdrawal between N1, 000 and N5, 000 is now N200 as against the normal charge of N100; while the current charge for N10, 000 stood at N300 as against N100 respectively.

Mr Chinwe Okezie, PoS Operator along Mile 50 Layout, said they are paying more than what they used to pay before they could get cash from the bank.

According to Okezie, this current situation is not from our members and it’s biting hard on us.

”It is biting harder on us than you customers and believe me, if we continue to charge normal amount, many of us will not stay in the business anymore,” he stated.

Another operator, Chidi Okafor along Kpirikpiri in Abakaliki, said the situation was worrisome and urged the CBN for immediate intervention.

”This issue of cash scarcity is caused by the banks. When you go to the bank and requested like N500, 000, what you will be given will be either N100, 000 or N150, 000 and the charges too. So, you see the challenges.

”Many of the Automated Teller Machines, (ATMs) are not even dispensing cash. The few ones in some banks that are dispensing will give you highest of N10, 000 only,” Okafor added.

It was also reported the ATMs in some banks visited in Abakaliki like the First Bank, Zenith, Ecobank among others, were not dispensing cash due to the scarcity.

Mary Okeh, a bank customer, said the economic situation in the country needed urgent attention by the federal government.

“How can a bank hoard money that belongs to individuals at a time like this? No money, after you have tried to save it? This is not funny but wicked,” she stressed.

Efforts to speak with the bank officials were fruitless.