Usman Okai Austin, a political activist from Kogi State and a former House of Representatives candidate for the Dekina/Bassa federal district, accused several senior commercial bank employees on Tuesday of selling money to Point of Sale (PoS) operators amid Nigeria’s cash shortage.
According to Okai, it is clearly clear that the commercial banks are cash-drained while the PoS terminals are operational.
“The story that the CBN is not giving them enough cash or is not meeting their demand for cash is a mere story,” Okai stated in a statement he signed.
“Some commercial banks are making money by selling money directly to prominent figures, charging N250,000 on N2,000.00. It’s a business venture for them.”
Okai went on to say that it is dishonest to place the responsibility on the Central Bank of Nigeria, or CBN.
“I don’t speak for CBN, and I don’t blame them,” he continued, “but we should take responsibility and be honest with ourselves.
“Commercial banks should stop using PoS as their new business in town if they want us to use the ATM to get money. The people are going through a lot of hardship, and this is common among small business women and men who go to market.”
“In the meantime, citizens have been suffering as a result of this immoral practice, which neither the CBN nor commercial banks nor point-of-sale operators are admitting to.”
