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Nigerian Languages / Re: POS Agents and Nigerian Banks
« on: April 30, 2025, 11:51:46 PM »
Well, the banks won't openly say so, but will like to enquire from you by experience, have you for ones gone to the bank and you want to make withdrawals and you're being told the certain amount that can be dispensed to you, that there is not enough cash available? This issue started during the cashless period we experienced in the country, and which is still on till date in banks. As for the ATM machines, it is only loaded with cash in the morning hours, and at that time, it will be crowded with people, and when the cash is emptied, reloading it up again becomes another problem.
I am not against the POS agents rendering their services, because it was through them, we could get cash during the cashless period, which through them, on several POS points they will say they buy money in the banks to get cash for their work.
Well, I can’t deny that I have never experienced this issue of not enough cash in the bank before or having to go to an ATM terminal only to discover that it wasn’t loaded and not dispensing cash.
A friend of mine once told me that this POS business has brought about cash shortages in banks because it was this money that those bankers issued to those requesting for withdrawals but now that there are POS everywhere and those who usually go to bank to deposit no longer go there instead they will take the money to their POS business especially those who are wealthy and have several POS stands at different locations.