₦airaland Forum

Mobile money agents have become a familiar sight across Nigeria, using handy point-of-sale machines to provide essential services to millions of people without access to banking, particularly in hard-to-reach rural areas.

Even on the streets of major cities, they have become a go-to, due to an ongoing shortage of cash at ATMs since a much-vilified redesign of the national currency, the naira, last year.

But opposition is growing to their activities, with claims that some are exploiting the country’s financial plight, compounding the worst cost-of-living crisis that Nigerians have faced in decades.

In 2013, the>>> https://highlifenaija.com/naira-scarcity-in-banks-fuels-fear-of-exploitation-by-pos-agents-in-nigeria/

Imagine a new generation bank telling you that you can only withdraw #5k across the counter and #20k on the ATM. And the #20k is the daily limit.

Then a POS operator, who is only a financial intermediary, is able to pay #200k but with heavy commission.

How sane can this be?

most people forgot that we are in december, that is why physical cash is scarce in the commercial banks and another thing is that once december is over. all these big big politicians always keep money at home and not in the banks. most of the banks always beg fuel stations and supermarkets or restauranst to please release small cash for them. many people now have vaults in their houses. they dont keep cash in the banks again

once you see alert

you know what to do

Happens every year

Bankowner:
Imagine a new generation bank telling you that you can only withdraw #5k across the counter and #20k on the ATM. And the #20k is the daily limit.

Then a POS operator, who is only a financial intermediary, is able to pay #200k but with heavy commission.

How sane can this be?

Naija matter just be like fowl wey no get owner,