Amid rising cash scarcity in Abuja, residents are grappling with higher charges at Point of Sale (POS) outlets and restricted withdrawal amounts. A recent encounter with a POS operator in Utako Market highlighted the struggle many are facing. While the standard charge for a N5,000 withdrawal is N100, some operators now demand as much as N300 due to the limited availability of cash.
According to a POS operator in Utako Market, banks are releasing only small amounts of cash, creating a shortage that forces operators to increase their charges to sustain their services. Additionally, many POS operators are unwilling to give customers the exact amount they wish to withdraw to avoid depleting their cash reserves, as they often have to buy cash themselves.
Residents are calling for urgent measures to address the cash flow challenges and ensure fair access to money without excessive charges.
