Nigerians face ATM cash shortages, increasing reliance on controversial POS systems.

Nigerians are frustrated with persistent cash shortages in ATMs, leading to a reliance on point-of-sale (POS) agents. Introduced in 2013, POS systems aim to increase financial inclusion and move towards a cashless society. However, some worry about the reduced bank-customer relationship and potential risks. The Central Bank of Nigeria is under pressure to address these issues and the high costs associated with POS transactions.

November 13, 2024
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