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Residents of Taraba State are again facing increased exploitation by Point of Sale (POS) operators as the ongoing cash scarcity intensifies. Reports indicate that many operators have hiked their charges, taking advantage of the situation to impose exorbitant fees on cash withdrawals and other transactions. The cash crisis, which has enveloped the state for weeks,
Customers groan as cash scarcity hits Taraba

Residents of Taraba State are again facing increased exploitation by Point of Sale (POS) operators as the ongoing cash scarcity intensifies.

Reports indicate that many operators have hiked their charges, taking advantage of the situation to impose exorbitant fees on cash withdrawals and other transactions.

The cash crisis, which has enveloped the state for weeks, has left residents with limited options, forcing them to rely heavily on POS operators for access to cash.

While some operators are currently charging customers N200 for every N10,000 withdrawal, instead of the normal N100, the situation is even worse in some parts of the state, where some operators are charging as high as N250 or N300 per withdrawal.

Some of the operators who spoke with our reporter attributed their actions to the inability of commercial banks to meet their responsibilities.

“The banks are complaining that they are short of cash. All my efforts to access cash from banks since last week have been difficult. All efforts to withdraw at least N500,000 failed.

“I was only able to get N150,000, and that was because I went through the backdoor,” lamented one of the POS operators.

A customer, who also shared her challenges at a POS outlet in Jalingo metropolis, said the situation has further worsened the ongoing economic difficulties facing the people of the state.

The customer, unable to understand the causes of the cash scarcity, believed that the dream of the people having a hitch-free Yuletide would be frustrated if the issue is not urgently addressed.

Citing the predicaments people faced during the last cash scarcity, she called on the relevant authorities to intervene before the situation worsens.

Some of the leadership at financial institutions visited by Daily Post also blamed the apex bank for the ongoing cash scarcity.

Many customers, expressing frustration over the exploitative practices, called on the relevant authorities to address the situation and ensure fair treatment.

This development, as observed by DAILY POST, comes as banks struggle to meet the cash demands of their customers, further exacerbating the financial difficulties faced by residents.

Customers groan as cash scarcity hits Taraba