Cash shortage hits PoS operators in Nigeria charges increased by 100%

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Point of Sale, PoS, operators in Calabar, Cross River State, have increased their charges by 100 per cent for all transactions following the paucity of naira notes in the state.

The operators confirmed the development in separate interviews with the News Agency of Nigeria, NAN, in Calabar on Tuesday.

They blamed the increase on difficulties in obtaining cash from banks.


According to NAN, charges for N5,000 and N10,000 withdrawals, which were formerly N100 and N200, respectively, have been increased to N200 and N400.

Ms Eno Umoh, an operator, asked for patience over the current charges, saying they should not be blamed for the development.

“We are simply trying to remain afloat in business and ensure we continue to serve our customers.

“We understand the present economic realities but we are paying so much to get cash to keep the business running.

“It’s not all about profit making as people would think,” Umoh said.