shippingposition
  • Home
  • News
  • Editorial
    • Vox Pop
  • Maritime safety
  • Oil and Gas
  • Personality
  • Health
No Result
View All Result
shippingposition

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.

Follow us on Facebook/ twitter


Related Posts

Farmers, Stakeholders Call For Board To Regulate Cocoa Industry

Farmers, Stakeholders Call For Board To Regulate Cocoa Industry

March 23, 2026
Nigeria’s Oil Industry Contributed 5.66% To GDP In Q3 2022 — NBS

Nigeria’s Inflation Rate Eases To 15.06% In February – NBS

March 23, 2026
Tomato Farmers Predict Gradual Price Hike Post Ramadan

Tomato Farmers Predict Gradual Price Hike Post Ramadan

March 16, 2026
Fuel Marketer Berates FG’s Costing Template, Says Realistic Cost Of Petrol Is N200 Per Litre

Petrol Price: Drivers, Commuters Lament Effects Of Hike, Urge FG For Solution

March 16, 2026

Latest News

NSC Pushes Fast-Track Clearance of Power Project Cargo at Ports

NSC Pushes Fast-Track Clearance of Power Project Cargo at Ports

April 17, 2026

Oyetola Commissions NIMASA–UNILAG Institute of Maritime Studies Building, Reaffirms Commitment to Blue Economy Growth

Maritime Sector Faces Priority Alignment Challenges – Centre The Sea Empowerment and Research Centre (SEREC) has raised concern over alleged policy misalignment and weak coordination in Nigeria’s maritime sector. It said the sector was at a critical crossroads, shaped not by limited capacity but by weak prioritisation discipline. SEREC made this known in a policy bulletin and presidential advisory memo made available to newsmen by its Head of Research, Mr Eugene Nweke, on Thursday in Abuja. Nweke said the sector had prioritised projects over systems, announcements over outcomes and revenue over value creation, describing the trend as a national economic risk. “Nigeria’s maritime sector has repeatedly prioritised visibility over viability, expansion over optimisation and announcements over execution. This has resulted to congestion in spite expansion, digitalisation without integration and revenue growth without efficiency gains,” he said. He said policy inconsistency and institutional fatigue had weakened the sector, resulting in reform fatigue and stakeholder distrust. According to him, Nigeria is losing economic momentum and regional relevance, with annual losses estimated at between N2.5 trillion and N4 trillion due to inefficiencies. He said with proper reforms, the sector could generate over one trillion in annual savings, recover between N500 billion and one trillion naira in revenue from cargo retention. The sector, he said, could unlock three billion to six billion dollars in export growth, with gains expected to boost jobs and GDP. Nweke said the sector had suffered from port expansion without adequate evacuation systems, poor connectivity and underperforming inland container depots. Several depots, he said, were licenced based on geographic considerations rather than economic demand, leaving many underutilised. He called for their conversion into export logistics hubs to support agro-export growth, cold-chain systems and structured export aggregation, critical for AfCFTA competitiveness. Nweke also warned against uncoordinated deep seaport development and fragmented digital trade reforms, noting that it could undermine smooth implementation of the National Single Window. He noted that to reposition the maritime sector, focus must shift from revenue obsession to trade efficiency, export competitiveness and cost reduction. According to him, Nigeria’s maritime system remains import-driven, with weak export infrastructure, poor logistics integration and limited export terminals. He said this had led to cargo diversion to neighbouring ports saying, ‘Nigeria is losing cargo not by geography but by inefficiency’. He stressed the need for a strong independent regulator to enforce global standards and curb tariff abuses, describing regulation as key to a functional port economy. Nweke urged proper implementation of the Cargo Tracking Note (CTN), warning it could fail without transparency and coordination. He said maritime reforms must prioritise system integration, measurable outcomes and coordination over fragmentation. “Nigeria is approaching a tipping point. It is either we fix our maritime system or continue to finance the efficiency of neighbouring economies,” he said.

Vessels Expected At Lagos Ports As At 17th April, 2026

Reforms Drive Maritime Turnaround, Position Nigeria for Blue Economy Leadership — Dantsoho

Tariff Hike: Freight Forwarders Demand Policy Review, Stronger Local Content Protection

Customs Boss Pledges Multimedia Centre, Radio Station For NIJ

MWUN, Maritime Unions Threaten Action Against Temile Over Workers’ Unionisation Dispute

NCS Seizes Smuggled Donkey Skin, PMS Worth N98.3 Million In Adamawa

Vessels Expected At Lagos Ports As At 16th April, 2026

NIJ Honours Customs CG Adeniyi with Fellowship, Announces Landmark Multimedia Centre Donation

NIMASA DG Commends NSDP Graduates As 34 Beneficiaries Obtain CoC

kindly like our Facebook page

Health

Sleep Deprivation Root Cause Of Many Disease – Says Physician
Health

Health Benefits Of Consuming Garden Egg

March 23, 2026

A great source of dietary fibre, minerals and vitamins, garden eggs are a welcomed addition to every meal. This fruit...

Sleep Deprivation Root Cause Of Many Disease – Says Physician

Sleep Deprivation Root Cause Of Many Disease – Says Physician

March 23, 2026
Report Finds Hypertension Affects Up To 40% Of Nigerian Adults In 2025

Stress Management: Psychiatrist Identifies Effective Coping Mechanisms

March 16, 2026
Report Finds Hypertension Affects Up To 40% Of Nigerian Adults In 2025

Report Finds Hypertension Affects Up To 40% Of Nigerian Adults In 2025

March 16, 2026
Lemons Are Among Fruits That Have The Highest Healing Powers Of Diseases On Earth

Lemons Are Among Fruits That Have The Highest Healing Powers Of Diseases On Earth

March 9, 2026
Nigeria Reports Higher Lassa Fever Death Rate

Nigeria Reports Higher Lassa Fever Death Rate

March 9, 2026
The Big Question: Can Diabetes Be Reversed?

Some Early Warning Signs of Diabetes That You Don’t Know, But Should

March 2, 2026
Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

Why Your Favourite Seasoning Cubes May Be Hurting Your Kidneys

February 23, 2026
SHOCKING: FIIRO Links High Rates of Organ Failure, Cardiovascular Diseases in Nigeria to Local Grinding Machines

SHOCKING: FIIRO Links High Rates of Organ Failure, Cardiovascular Diseases in Nigeria to Local Grinding Machines

February 23, 2026
MONDAY INTERVIEW: Oyebamiji Did Not See The Media As Adversaries, But As Partners In Development”—Minister Oyetola

DANGER: 11% Of Nigerians Have Kidney Disease – Experts

February 16, 2026

© 2021 Shippingposition

Navigate Site

  • Home
  • About Us
  • Contact us
  • Privacy Policy
  • Editorial Policy
  • Sitemap
  • Terms

Follow Us

No Result
View All Result
  • News
  • Coast To Coast
  • Oil and Gas
  • Maritime Education
  • The Terminals
  • Maritime safety

© 2021 Shippingposition