The COVID-19 measures adopted by Nigerian banks enrich the operators of the Bureau of Change in Lagos to the detriment of POS operators. For the reason that banking trade opened extensive to the general public after two months of skeletal operation attributable to the nationwide shutdown, banking premises have been crowded within the state.
Banks had closed some branches whereas they’d progressively opened to the general public since Might 4, 2020. This resolution had led to overcrowding in open branches and accompanied by the directive that prospects ought to a minimum of within the banking room, many purchasers they had been denied. providers from banks.
Every single day, the queue at subsidiaries GTBank, Entry Financial institution, Zenith Financial institution, UBA, and plenty of different top-tier banks extends past the composition of those banks, and many purchasers have to return to the banks for 2 or three days. earlier than they had been attended to, Whereas some prospects didn’t go to their banks due to the queue and issue in being assisted.
The Bureau of Revenue Change Exchanges:
Whereas the stress and issue of accessing banking providers are attributable to safety measures, the brand new course of in banks impacts the actions of POS operators, as they can’t withdraw money for his or her companies. Some POS operators go and depart the banks empty-handed due to the queue.
Apart from POS operators who arrive as much as 6 hours earlier than the queue turns into lengthy. Nevertheless, the method has affected their enterprise financially and is time consuming, since POS operators now spend much less time at their kiosk than they use for post-COVID-19.
To keep away from leaving banks empty-handed or queuing for lengthy hours, POS operators should now rely on BDC operators to get cash. BDC operators are actually attacking round banks to supply their quantity to POS operators at a value.
The Bureau of Change operators additionally need to deposit their cash, however because of the issue of coming into banks, they’re discharging money to POS operators prepared to half with a sure proportion. BDC operators cost round N700 to N800 for N100,000 money switch – there are greater than 2500 Bureau of Change in Nigeria.
POS operators are complaining concerning the new banking course of:
Chatting with a POS operator – situated round Abule-Egba – who spoke on situation of anonymity, he mentioned they’re now relying on BDC operators to get cash because the new banking course of has turn into insufferable for purchasers seeking to withdraw a big amount of cash.
“The queue at banks is now lengthy. You must get up early simply to retire and wait a very long time earlier than being assisted. However some Bureau of Change operators normally keep across the banks to supply cash every time you might be prepared to pay, and it impacts to our enterprise “. She advised AllNews.
One other POS operator at Ogba, Deborah Ajishafe, advised AllNews that “BDC operators have began providing cash with none prices as a result of in addition they needed to deposit however couldn’t due to the queue, however by the variety of POS operators. who want cash have elevated and so they have seen our despair, they’ve been accused ”.
Other than having to pay BDC operators, safety can be a serious precedence for POS operators, who carry out transfer-by-cash exterior of their consolation zone. A number of the POS operators now not go to the financial institution, since they solely name the BDC operators to return and provides them cash.