Cash scarcity: POS operators take advantage of customers in Taraba
Points of Sale ( POS) operators are exploiting customers in Taraba state as a result of cash squeeze. Findings revealed that while most of the commercial banks in Jalingo, the state capital, and other towns in the state allow their customers to withdraw between N30,000 to N50,000, POS operators have no limit of cash they […]
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Points of Sale ( POS) operators are exploiting customers in Taraba state as a result of cash squeeze.
Findings revealed that while most of the commercial banks in Jalingo, the state capital, and other towns in the state allow their customers to withdraw between N30,000 to N50,000, POS operators have no limit of cash they give to their customers.
There are many Point of sale operators in cattle and grain markets across the state where transactions running into millions of naira take place during the market days.
POS operators currently charge between N1500 to N2000 per N100,000 transaction.
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A grain dealer at Mutum Biyu grain market in Gassol local government area, Aliyu Garba, told Daily Trust that he has no option than to pay what ever changes the POS operators ask him to pay without which he would not transact his business.
According to him, most of the farmers that brought their produce from the villages to the market do not accept transfer.
At the cattle market in Iware, the situation is the same as cattle merchants are paying high charges to POS operators in the market.
One of the cattle dealers, Yusuf Adamu, said POS operators in the market have money all the time but the issue is that their charges were too high.
He said their services were very important in the market because there is no commercial bank in all the 10 towns where the major cattle market is located in the state.
Only Mutum Biyu has a commercial bank out of the 12 towns where major grain markets are located in the state.