Posted 1/14/2024, 3:05:00 PM
Ibadan Residents Struggle with Cash Scarcity as Banks and PoS Operators Trade Blame
- Residents of Ibadan complain of ongoing cash scarcity and limits on ATM withdrawals, forcing reliance on PoS operators
- Banks and PoS operators blame each other for the cash shortage
- Bank officials allege some PoS operators have multiple accounts to drain ATMs quickly
- Bank official says traders and markets increasingly rely on PoS operators for cash flow
- PoS association blames issue on bank managers diverting cash to their own PoS outlets rather than customers