Relief as PoS operators swing back to business in Ilorin
Point of Sale operators are now fully back in business after a long break occasioned by the recent naira scarcity crisis in the country.
DAILY POST reports that the increase in the number of old naira notes in circulation by the Central Bank of Nigeria, CBN, has also made more cash available to PoS operators through commercial banks.
The development has rubbed off on the socio-economic activities of the residents as business transactions have started to pick up in the Ilorin metropolis, contrary to the bitter experience of the past few months.
Findings further revealed that charges on cash withdrawals imposed on customers by the PoS operators have also crashed.
While some operators charge an N100 commission for N1,000 cash withdrawals, others charge a minimum of N50 on every N1,000 cash withdrawn by customers.
During the naira scarcity crisis, the operators charged as much as N250, N300 and N400 for every N1,000 cash withdrawn by customers.
One of the operators, Mama Ayo who spoke to our correspondent in Ilorin on Monday, complained that the CBN has refused to dispense the newly redesigned naira notes while both the mint and tattered old N1,000 notes are in vogue now alongside other denominations.
She wondered why there were more old tattered naira notes in circulation than the newly redesigned naira notes as citizens had expected.
Commercial bank officials who confided in our correspondent shifted the blame on the CBN for its failure to print and dispense new naira notes for circulation.
Meanwhile, there has been a noticeable reduction in queues in the banking halls and ATM points around the Ilorin metropolis.
Similarly, transport fares hiked in the outbreak of the crisis have also been brought down by commercial transporters from N150 and N200 per drop to N50 and N100 depending on the distance.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Baba Isale Fola Consultant Ilorin International Airport Bisi Kristien Kayode Ibrahim TVC Female National Debate Ophthalmological Society Of Nigeria Yusuf Lawal Abdulrauf Yusuf Saadu Yusuf Valsolar Consortium Apado Raji AbdulRasaq Mutawali Afusat Nike Ibrahim Bello Oyebanji NAWOJ Ojo Fadumila Tsaragi-Share Offa Descendants Union A.G.F Abdulrasaq Bashirat Bola Bello Apata Ajele Secondary School Ganiyu Taofiq Ilorin Innovation Hub Yahaya Abdulkareem Babaita Ajuloopin Taibat Ayinke Ahmed Ayo Salami Abdulsalam A. Yusuf Elerinjare Rafiu Ibrahim Isaac Gbenle Saidu Kawu Kwara State Football Association Tunde Kazeem Bukola Saraki Aso-ofi Osinbajo Wahab Issa Patigi Regatta Admiralty Villa Ijagbo Health Centre Toyin Olayinka Tejidini Bolaji Abdullahi Abdulrazaq Adebayo Toyin Sanusi Oladimeji Thompson Samuel Elizabeth Keatswa Pilgrims Board Olayinka Are Saka Asiat Ayinke Solomon Edoja Osi Abdulrazaq Aiyelabegan Rashidi Yekini Frootify Kudirat Arinola Lawal Kishira Is\'haq Modibbo Kawu Iliasu JAMB Clement Yomi Adeboye Ileloke Moses Afolayan Abubakar Abdullahi Bata Pategi Abdulwasiu Bolaji Adeyi National Association Of Nigerian Students Olatunji Abdulmumeen Saka Onimago PharmAccess Foundation Ahmad Olanrewaju Belgore Adesoye Emmanuel Olatunji Adesoye Olajumoke Monsura Gafar Isiaka Gold