Due to the shortage of naira notes in the state, point of sale (PoS) operators in Calabar, Cross River State, have raised their fees by 100% for all transactions.
In separate interviews conducted on Tuesday in Calabar with the News Agency of Nigeria (NAN), the operators verified the occurrence.
They attributed the rise to challenges in getting bank loans.
Charges for N5,000 and N10,000 withdrawals—which were formerly N100 and N200, respectively—have reportedly been raised to N200 and N400, according to NAN.
Operator Ms. Eno Umoh pleaded for patience about the current charges, stating that they are not to blame for the evolution.
“We are simply trying to remain afloat in business and ensure we continue to serve our customers.
“We understand the present economic realities but we are paying so much to get cash to keep the business running.
“It’s not all about profit making as people would think,” Umoh said.