POS operators in Lokoja and its environs in Kogi State ceased operations on Thursday, as the ongoing scarcity of the redesigned naira worsened.
Most POS operators in Kogi stated that they ceased operations due to a lack of new naira from commercial banks.
Other sources attributed the development to the CBN’s collaboration with the EFCC and ICPC in conducting Banks’ Branch Spot-Checks on ATMs, which resulted in banks cutting off supply to POS operators.
Meanwhile, the impact of the new notes’ scarcity persisted on Thursday, with many people complaining of going to bed on an “empty stomach” the night before, adding that they were in desperate need of money to buy food and meet other essential social and economic activities.
Some employees at the Kogi State Secretariat in Lokoja said that their colleagues and other workers were unable to come to work because they did not have either old or new money to pay for transportation.
