Posted by Point of Sale (POS) operators in Lokoja and its environs in Kogi State ceased operations on Thursday as the continuing scarcity of the redesigned naira exacerbated.
In an interview with kuryaloaded, most POS operators reported that they ceased operations due to a paucity of new naira from commercial banks.
Other sources attributed the development to the CBN’s involvement with the EFCC and the 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 individuals complaining of going to bed on a “empty stomach” the night before, adding that they were in desperate need of money to buy food and meet other vital social and economic activities.
Some employees at the Kogi State Secretariat in Lokoja told kuryaloaded 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.