As Deadline Approaches, PoS Operators Surcharge for Redesigned Notes

The Central Financial institution of Nigeria (CBN) has mounted January 31 because the deadline for using the previous naira notes. Nevertheless, there have been appeals from numerous quotas to the CBN to increase the deadline for the gathering of the previous naira notes however all to no avail.

In the meantime, some Level of Sale (PoS) operators in satellite tv for pc cities of the Federal Capital Territory (FCT) are making brisk enterprise with the brand new naira notes.


A few of the Pos retailers visited in Nyanya, Mararaba and Karu areas of the territory had been both not allotting the brand new notes or charging further money for them.

Miss Dera Akoh, an operator in Nyanya was charging N200 for every N2000 new notes distributed.


She decried that banks weren’t additionally allotting sufficient new naira notes to them.

”For each N2000 you withdraw, the shopper pays me N200.

”It is vitally troublesome for us to get the brand new notes even in banks.

”I went to the financial institution yesterday they usually gave me new notes for less than N5000. It’s not our fault,” she mentioned.

One other operator, Mrs Peace Akande, additionally in Nyanya, mentioned she charged N150 for each N1500 withdrawn.


She appealed to CBN to institute a monitoring mechanism for banks to make sure that they weren’t utilizing the brand new naira notes for different companies to the detriment of the lots.

Mr Isah Abdullahi, a PoS operator at Mararaba, mentioned he didn’t have new notes to pay clients.

He appealed to the shoppers to withdraw solely what they might spend earlier than the deadline for using the previous naira notes elapsed.

Mr Anthony Ali, a resident of a group in Lugbe space, mentioned that operators had been charging N500 for each N5,000 withdrawn.

”All through yesterday in Lugbe, if you wish to acquire N5000, the operators pays you N4500 and acquire their N500 cost as towards N100 which they often cost.


That is very irritating. CBN must step up their actions.

”They need to make these new naira notes obtainable for folks to make use of,” he mentioned.

Additionally, the Automated Teller Machines (ATMs) in most banks visited alongside the Central Space, FCT, weren’t allotting money.

Some clients seen at Sterling and First Banks alongside the realm regretted that the brand new notes weren’t in full circulation.

They urged CBN to make the notes obtainable for folks to entry and use with ease.