Banks are experiencing low cash deposit and huge withdrawals because they have sublet banking activities to streets POS operators.

Sadly enough, most of the bank workers own street POS terminals and make large cash withdrawals daily to feed their business at the detriment of bank customers.

Reports reaching me indicates that some POS operators have links with bank managers who sell cash to them for their nefarious activities.

POS terminals street charges as at yesterday was 1k charges for a 10k cash withdrawal.

This is truth but in Nigeria nobody frowns at nonsense today as the leaders are busy cutting their own portion of the loot.

things will stil normalize, dont blow things outta proportion....even the POS ppl dont receive deposit yet...

...again your insinuations about the percentage of pos opertors working in the bank is very exergerated....its less than 0.05%>>

but still font b perturbed, deposits will return to banks...but like before..?No way!

banks will shed off some staffs

Na the charges dey vex me pass!

I cannot remember the last time I withdrew money from POS agents because cash is almost everywhere. For instance, last week, I got 20k and two days ago I withdrew 25k.

Central Bank has even removed the 20k daily Withdrawal limit so we can have access to cash. Don't worry; very soon, POS agents will start begging for customers.

Another lie from a failed govt trying to justify their obvious failure. When bank customers are allowed to withdraw only N10, 000 or less, this small amount is not even enough for their use, this can only be used for small expenses like transportation, snacks or drinking water and other minor expenses that require cash. This small money just keep circulating between the citizens, without any excesses that are usually deposited at the banks. The only cash that may get to the banks or POS in this situation are the ones transport workers use in buying fuel, this is sold by the greedy filling station owners to pos agents who also resell to other Nigerians

Fcmb is paying #100000 over the counter everyday.

Stop taking cash to banks. Give it to someone at the back of the queue and let him transfer to you for a commission.

CodeTemplar:
Stop taking cash to banks. Give it to someone at the back of the queue and let him transfer to you for a commission.

Don't attempt this if you don't know how to recognise fake transfers, a simple method is to always add a transferred amount to your previous account balance, if your present balance shows that the new amount has been added, then it isn't a fake transfer. All these criminals that do fake transfers don't know your account balance, that is why fake transfer never carrys account balance. please be wise.

oz4real83:
Don't attempt this if you don't know how to recognise fake transfers, a simple method is to always add a transferred amount to your previous account balance, if your present balance shows that the new amount has been added, then it isn't a fake transfer. All these criminals that do fake transfers don't know your account balance, that is why fake transfer never carrys account balance. please be wise.

don't reveal your banking line to potential clients or money transferee.
Use app to confirm new balance. Bank app cannot be updated by scammers when money hasn't beennpaid to you.