Nigerians are lamenting over the hike in cash transaction charges imposed by point-of-sale operators (POS) despite the extension of the deadline announced by the Central Bank of Nigeria on Sunday 29, January 2023. The scarcity of the new naira notes has worsened as Nigerians are unable to get cash over the counters in banks and from the Automated Teller Machines (ATMs).

POS operators have complained about the difficulties faced in obtaining new notes, as banks cannot meet the desperate needs of their customers. This has made point-of-sale operators look for other sources of obtaining the new notes, which they call “BLACK MARKET” in ...
https://ratecaptain.com/pos-operators-claim-that-high-charges-were-attributed-to-the-usage-of-the-black-market/