Nigerians Groan Over Excessive PoS Charges as CBN Orders Banks to Set Withdrawal Limits [Video]

• Nigerians have shown concerns about the excess charges by PoS operators across different region the country
• This is as ATMs across different regions have now limited the amount of cash withdrawal for customers
• Nigerians have reacted in a mixed manner to the development with some supporting and some opposing the operation of PoS

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Growing frustration has been voiced by several Nigerians regarding the ongoing problem of automated teller machines (ATMs) running out of currency.

However, the PoS systems function as agent banking systems that offer consumers outside of the conventional banking system alternative financial services.

PoS agents can be used for bill payment, cash withdrawals, deposits, and money transfers.

Recall that earlier this year that Nigerian commercial banks have increased the amount that may be taken out of their …