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Cash crunch: Customers allege bank officials’ connivance with PoS operators

by Aisha Abubakar
March 31, 2023
in Banking
0
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Some bank customers on Friday alleged bank officials’ connivance with Point of Sale operators (PoS), which makes it difficult for them to easily have access to cash from Automated Teller Machines (ATMs).

They told the News Agency of Nigeria (NAN) in separate interviews in Ikotun, Alimosho Local Government Area in Lagos State that the POS operators usually get preferential treatment from bank securities and officials whenever they come to withdraw cash.

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They also alleged that PoS operators usually withdrew more than the stipulated amount from the ATM stands and sell to people around the banks at exorbitant rates.

Chief Kayode Adedeji, an ex-military man, said he had been coming to FirstBank, Ikotun, over a week, to withdraw cash but to no avail.

“This branch, in particular, have been frustrating people; we come here everyday, but they always say there is no cash.

“They keep telling us that there is no cash.However, you see some of their staff coming out with cash to give to a PoS agents.. This is wickedness, ” he said.

Mr Fidelis Nwafor, a clock repairer, also spoke in the same vein.

“The money that banks would have given to people, were being sold to PoS agents. Look at me, I have been coming to this bank since Monday, yet, I can’t get any cash. Tell me how corruption will end in this country? he queried.

Similarly, Mr Stanley Uzoma, a trader in Ikotun Market, alleged that bank officials around the area connive with police officers as they usually shunt the queues.

“The police normally jump the queue to get cash for the PoS operators, while customers can not complain because of their uniforms. This is not nice.

“We are in a terrible situation in this country. Now, we know those working against the masses. Those who we felt were protecting our interest were really not doing so.

“I wish something can be done to address the excesses of these PoS operators, ” he said.

Mrs Oluremi Barakat, also a trader in Ikotun Market, noted that banks securities always pamper PoS operators by giving them preferential treatment.

“Sometimes, we would be on the queue and the next thing, a security man would just come from inside the banking hall and call a particular person from the crowd.

“When we ask why, he would tell us that the person had been here since 5 a.m. to write his name and pick a number,” she said.

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