New Naira Notes: How POS Operators Are Increasing Charges

Some Nigerians have in the last few days entered panic mode as the January 31 deadline for accepting the old Naira Notes closes in.

Earlier today, some residents of Kano noted that POS Operators have increased their fee from ₦100 per every ₦5,000 withdrawal to ₦200.

To confirm this, AllNews Nigeria visited a POS Operator at Hotoro, Nassarawa local government.

The operator who would not want his name mentioned said they increased the charges because it was 'necessary'.

A customer, Muhammad who at the time just withdrew ₦5,000 said " I paid ₦200 for this withdrawal, he said they suffered before they got the money (new notes)."

Another POS Operator in the area mentioned that he would not be giving out any money as he does not have the new notes yet.

Some of the POS centres have closed down, rushed to Banks to get the new currency, while those dispensing make hay.

Many residents and business owners are at the banks in long queues to beat the deadline.

As of Tuesday, some still accuse banks of dispensing old notes through their ATMs.

Central Bank Governor, Godwin Emefiele has restated that there would be no extension to the earlier announced January 31 deadline despite calls by Nigerians.