COMMERCIAL BANKS TRANSFORMING POS TERMINALS INTO CASH SALES VENTURES – OKAI
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Usman Okai, a former House of Representatives candidate for the Dekina/Bassa federal seat and a stalwart of the Peoples Democratic Party, has accused commercial banks of selling naira notes directly to powerful people, hence adding to the current cash crunch.
The political activist, who was born in Kogi, asked the banks to address the cash scarcity, claiming that the issue is causing people to suffer greatly.
Okai further noted that “Point of Sale (PoS) operators seem to have cash readily available, while commercial banks remain cash-starved.”
According to Okai’s statement released on Tuesday, commercial banks are not being honest with Nigerians, claiming that those operating Point of Sale terminals that impose arbitrary fees on residents are senior bankers’ representatives.
He said, “The story that the CBN is not giving them enough cash or is not meeting up with their demand for cash is a mere story.”
He lamented that PoS operators can’t have the cash they are selling from the CBN vault but from the commercial banks.
“Some commercial banks are selling money directly to some important personalities, whom they are charging N250,000 on N2,000.00, it’s a venture for them and they are making money from it, “Okai stated.
Okai in the statement further added that the blame game on the CBN is mere deception.
“I am not speaking for CBN neither do I blame them, but we should own up to the truth and tell ourselves the truth.
“If commercial banks want us to get money from Automated Tell Machines they will load it with cash, they should stop using PoS as their new business in town, the citizens are suffering untold hardship and this is common among small small business women and men that go to market,” he said.
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