Residents have angrily dismantled a POS operator’s kiosk in Warri, Delta state in order to portray their frustration over the exorbitant charges.
It is no longer news that POS operators have taken advantage of the Naira scarcity to charge Nigerians outrageous fees to withdraw money.
Since the beginning of the new Naira note crisis, withdrawal fees have skyrocketed. POS operators, who previously charged N100 for every N5,000, now demand as much as N1500 for every N5000 withdrawn.
READ ALSO: New Naira wahala: Nigerians war fiercely in banks to exchange old notes
Well, Warri residents have refused to have none of it as captured by an eye-witness video showing several Nigerian youths dismantling a POS stand.
We buy notes from bankers and fuel attendants
According to the protestors, the POS operators were extorting them because of the scarcity of Naira notes in the country, hence, they decided to teach them a lesson.
One of the protester in the video was heard cheering and encouraging those destroying the POS stand.
Meanwhile, a POS operator revealed to Battabox that they buy cash from bankers and fuel attendants, so they have to recoup capital and a little profit, which is why they inflate withdrawal fee.
READ ALSO: CBN wahala: Food seller attacks man who paid her with new naira notes
Violence erupts at ATMs as Nigerians scramble to withdraw cash
Meanwhile, the extension of the deadline for the swap of old 200, 500, and 1000 notes ensued a persistent struggle for the new Naira notes at various banks.
In a video posted on Instagram by @Mufasatundeednut, a number of sweating men pushed against each other just to get to the ATM first. In the end, no one seemed to succeed in getting through to it.
To make things worse, the charges for getting cash via POS machines have skyrocketed.
