Extortion by PoS Operators Persists Despite Availability of Naira Notes

Despite the ease with which customers now access movies either via the Automatic Teller Machines, ATMs, or banking halls, findings by FreshNews indicate that Point of Service, PoS, operators are still extorting their customers of hard-earned monies with exhorbitant charges.

At the Kubo mechanic village, the operators collect 10% of every amount and a block N200 as charges for transfer of money ranging between N5, 000 and N10, 000. Whereas they charge N500 for every N5, 000 withdrawal, they collect N1, 000 for every 10,000.

FreshNews also found out that PoS operators in Nyanyan, Jikwoyi and Kurudu are also collecting the same percentage for all their transactions. 

Like their counterparts in Kubo, the explanation for collecting such huge percentage from cash-strapped customers is that they have not been able to easily access monies from any ATM point. However, two of the operators who volunteered information on the conditioned of anonymity told the medium that they are simply acting on the instruction of their bosses. 

Following the development, spare parts traders and their customers in Kubo, particularly the latter, say they are disappointed with the extortion being undertaken by the PoS operators.

Samuel, who brought his car for repairs was furious for being charged N4, 000 for the N45, 000 he needed to pay for the parts requested for the repair of his car. He told FreshNews that he would have made the withdrawal from the ATM prior to coming to Kubo if he knew that the extortion regime was going on in the mechanic village. 

"Imagine paying N4, 000 for N45, 000. The operator actually insisted on collecting N4, 500 until I begged her to let go of the N500. I'm with myself for just frittering away my N4, 000 when I could have withdrawn my money easily from one of the ATMs close to my office," he lamented.

Several other customers at the village spoke in the same vein, deploying the actions of the PoS operators whom they accused of outright stealing.

"What they are doing here is stealing. It's as simple as that," another customer volunteered.

The situation in Jikwoyi is not any better as PoS operators insist on collecting 10% of every transaction claiming that they have to do so because they pay so much to access their funds in banks.

"I was at my bank as early as 7:30 yesterday. But I could not access any money from the ATM.

"I waited for the bank to start the day's work before I was able to make withdrawals at the counter and the charges I paid was much," one PoS operator told the medium without elaborating further.

As if the PoS extortion regime is not enough, traders in parts of Jikwoyi, particularly bread sellers, refused to take transfers for their wares. Instead, they simply point in the direction of the PoS, indicating that customers should withdraw money first before making purchase.

PoS operators at the Kurudu market and Phase 3 junction of the Army Housing Scheme are also collecting 10% charges for their transactions. In addition, they collection N200 for transfers for monies even below N5, 000.

Beyond simply saying "that's what we collect", none of them was willing to speak with the medium even as traders in the area are bemoaning the operators'insistence on collecting so much from their customers. Indeed, a number of the operators were only conducting transfer services as they claim they don't have funds.