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Home » Cash Crunch: Customers Allege Bank Officials’ Connivance With POS Operators

Cash Crunch: Customers Allege Bank Officials’ Connivance With POS Operators

by sam
April 3, 2023
in Market Square

POS

Some bank customers on Friday alleged bank officials’ connivance with Point of Sale operators (PoS), which makes it difficult for them to easily have access to cash from Automated Teller Machines (ATMs).

They told the News Agency of Nigeria (NAN) in separate interviews in Ikotun, Alimosho Local Government Area in Lagos State that the POS operators usually get preferential treatment from bank securities and officials whenever they come to withdraw cash.

They also alleged that PoS operators usually withdrew more than the stipulated amount from the ATM stands and sell to people around the banks at exorbitant rates.

Chief Kayode Adedeji, an ex-military man, said he had been coming to FirstBank, Ikotun, over a week, to withdraw cash but to no avail.

“This branch, in particular, have been frustrating people; we come here everyday, but they always say there is no cash.

“They keep telling us that there is no cash.However, you see some of their staff coming out with cash to give to a PoS agents.. This is wickedness, ” he said.

Mr Fidelis Nwafor, a clock repairer, also spoke in the same vein.

“The money that banks would have given to people, were being sold to PoS agents. Look at me, I have been coming to this bank since Monday, yet, I can’t get any cash. Tell me how corruption will end in this country? he queried.

Similarly, Mr Stanley Uzoma, a trader in Ikotun Market, alleged that bank officials around the area connive with police officers as they usually shunt the queues.

“The police normally jump the queue to get cash for the PoS operators, while customers can not complain because of their uniforms. This is not nice.

“We are in a terrible situation in this country. Now, we know those working against the masses. Those who we felt were protecting our interest were really not doing so.

“I wish something can be done to address the excesses of these PoS operators, ” he said.

Mrs Oluremi Barakat, also a trader in Ikotun Market, noted that banks securities always pamper PoS operators by giving them preferential treatment.

“Sometimes, we would be on the queue and the next thing, a security man would just come from inside the banking hall and call a particular person from the crowd.

“When we ask why, he would tell us that the person had been here since 5 a.m. to write his name and pick a number,” she said.

NAN observed that PoS operators go to banks with many ATM cards and they do not leave the boots untill they are through.

NAN also observed that PoS operators lined up in front of the bank and were chanting “PoS, PoS” to the frustrated and angry crowd.

The PoS operators also charge N12,000 for N10,000 and N6,000 for N5,000.

NAN also observed that other banks like the Guaranty Trust Bank (GTCO), Stanbic IBTC, Sterling Bank, Access Bank, Ecobank and Zenith Bank pay more to their customers compared to non accounts holders.

At GTB, customers were paid N20,000 and N10,000 to non customers, at Sterling bank, customers were paid N100, 000 and N10, 000 to non customers.

Also, at Stanbic IBTC, customers were paid N40,000 and N10, 000 to non customers, and so does other banks.

A bank official with GTB, who spoke under anonymity said, “We want to ensure that we service our customers first before others.

“Also, we have heard of the way people were abusing the use of the ATM, especially the PoS people.

”They go to different banks to withdraw. So, we do not want that happening in our bank,” the bank official said.

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