Some Point of Sale (PoS) operators in Okitipupa in Ondo State have increased their charges following residents’ difficulties in getting the recoloured naira notes in banks.

The Central Bank of Nigeria (CBN) on Sunday extended the deadline for the old 200, 500 and 1000 naira to cease to be legal tenders from January 31 till February 10.

The deadline extension allows Nigerians to deposit and swap their old naira notes for the newly redesigned notes in the banks.

PoS operators in Okitipupa, as of Tuesday, had increased their charges by between 100 per cent and 150 per cent, translating to exchanging N2000 for either N200 or N300.

A PoS operator, Matthew Aworinde, told journalists that operators increased the charges because of the scarcity of the new naira notes in the banks and Automated Teller Machines (ATM).

“Since I can only get N100,000 daily, we now charge N200 and N300 on old and new notes, respectively,” he said.

Funke Akiode, another PoS operator, also said business had been dull since the deadline for the old notes to cease to be legal tender and cash limitations by the CBN.

“I charge N200 on N2,000 and N1,000 but can allow N20,000 withdrawal; so that I can sustain the business till evening because telling customers no cash drives them away,” she said.

Another PoS operator, Chukwudi Arume, said he had thought of quitting the business to take up another business as the POS business no longer boomed like before.

“Immediately you tell customers the new charges, they leave immediately, and you won’t see them again, so the CBN directive has been tough on our businesses,” Mr Arume said.

Iyabo Ojawole, another POS operator, also tsaid the increment in charges was not limited to operators in Okitipupa alone but all over the country, noting that it was a reflection of CBN directive.

“This directive on the redesigned naira notes and cash limitations is ill-timed and ill-advised, especially during the electioneering period. We are lamenting because it’s really affecting our businesses and the economy too,” she said.

Also, Kolade Ikudejo, a PoS operator, urged the CBN to extend the deadline for swapping the old naira note by six months and relax the bank’s cash withdrawal limitation.

Meanwhile, a visit to three banks in Okitipupa saw a large crowd at the banks’ ATMs which are still not dispensing new notes but old notes while the cash limit is being implemented.

Some of the bank officials who were approached for comments blatantly refused to say anything as they ignored the media. 

(NAN)