Residents of the South-East region say they are still groaning under the hardship occasioned by the Federal Government’s naira redesign policy. They lamented that despite the Central Bank declaration, they are yet to witness any serious relief in both their lifestyle and businesses, rather, they still find it difficult to have access to their money and difficult to buy things to run their families.
People who are in need of cash still spend hours in the banks and receive paltry 3,000 to 5,000 naira as the banks still claim that they are short of cash.
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Point of sale, POS, machines operators have suddenly become lords as people queue to receive cash from them at a fee. For instance, the operators are still charging 1,000 for every 5,000 in most places and 2,000 for 10,000. A POS operator in Awka, Miss Nneka Okeke said it is not easy getting cash from the banks, adding that they pay the bank officials to be able to get cash.
According to her: “Anytime you see me dispensing money, just know that I am doing it for a staff in my bank. We reached an agreement with them on how much we will pay for getting cash. Those who do not have such connection have run out of business.”
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