A Nigerian woman recently voiced her concerns on social media platform X (formerly known as Twitter), openly criticizing the prevalence of POS businesses and calling upon the Central Bank of Nigeria, CBN, to consider permanently shutting down this sector.
In her post, she detailed her frustration with the extensive use of POS services, lamenting the lack of convenient ATM centers across various locations. She expressed a desire for the re-establishment of functional ATM points in key areas nationwide, highlighting her dissatisfaction with the current state of POS proliferation.
In her words: “I need the CBN to destroy this business of POS. Bring back ATMs, wtf. It’s so bad that airports don’t have ATMs, not at malls, nowhere. I hardly ever pay cash, yet the level of disorganization this projects is shocking. We’re living with the realities of many failures, and this proliferation is part of that. Why do I need to interact with a third party I’m buying nothing from? I don’t want to do that.”
As her post started gaining traction, numerous individuals quickly joined in on the conversation, with people flooding the comments section to share their own thoughts, opinions, and varied perspectives.
See some reactions below:
@eniturn: “That POS is the reason why some people can feed their families and not go hungry. If the ATM is your preferred choice, use it. If it’s POS, use it. Don’t bring people down because you don’t want to pay 100 naira charges.”
@flowzki: “I’m sure you cannot give any reasonable reason why POS business is bad, they are making things faster, the ATM queues were getting longer and the machines not any better or improved.”
@OloriOfOloris: “Na who ATM never swallow their card dey talk this kind thing. I hate any issue that will take me to the bank. POS will go nowhere in Jesus name.”
@Francheski64: “Too late, the cost of managing ATM and cost of cash transit will be off the roof with the current inflation. I don’t think any bank wants to run ATMs again, it’s something I did for a while, it’s very expensive, and most ATMs were running on a loss.”
@Dolipeepe: “They have their advantages, they save valuable time people spend on queues at the ATMs. Some communities are far away from bank branches, residents used to journey to the major towns for financial transactions. What the CBN needs to do is to shine their light on banks.”
@thatpoetclem: “They make things easier but can be frustrating sometimes, the charges can be ridiculous at times, it should be optional.”
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