By PAMELA EBOH, Awka

Some operators of Point of Sale, aka, POS in Awka, Anambra State capital are cashing out as they have turned their business to trade by batter. This is coming barely four days to the Central Bank of Nigeria, CBN liquidation of old naira notes in Nigeria.

The development comes following the scarcity of the new naira notes.

Though the new notes are in the hands of few operators, the ones that have it are not giving it away without a bargain.

For instance, the POS operator at Ukwu Udala area of Awka takes five hundred charge for every five thousand withdrawal while one thousand is charged for every ten thousand withdrawal.

According to the operator; Chinwe Kosarachi, she said paid to get the new notes to be able to keep her business afloat.

"I can't just collect a hundred naira for five thousand naira withdrawal because I bought it like a commodity. I didn’t get it from the bank cos they still pay old money. I went to where they sell it and bought it, otherwise you wouldn't find me here today.”

Another operator at the Akwatta area also takes five hundred for a withdrawal of five thousand new notes, one thousand five hundred naira for ten thousand naira withdrawal and two thousand naira for a twenty thousand naira withdrawal.

On the flip side, people who had need for the money were seen paying to get the new cash while some hi hadn't enough were bargaining for cost reduction.

Another operator at the UNIZIK temporary site area who spoke on condition of anonymity said that he cannot pay any customer above five thousand naira because he doesn't have enough.

He said: "I'm a student using this to augment. People who are using good money to run this business bought the new naira in large sums, hoping to use it to make brisk business. I don’t have much so I bought small. That is why I cannot pay anybody above five thousand. If i pay you even two thousand naira, I will collect five hundred from you."

Apart from operators of POS, fuel stations have also started rejecting the old naira notes except transfer.

Recall that traders at Main market Onitsha during a sensitization programme hosted by the state branch of CBN had cried out over scarcity of the new naira notes.

Meanwhile, people especially traders on Saturday thronged different banks in Anambra State to deposit the old notes in their possession to beat the deadline.

Even though the new notes are scarcely gotten from the banks as it stiill pays customers with old notes as well as the ATM machines, people are scared of losing their monies after deadline.

Virtually all the banks along the Zik’s Avenue road in Awka were filled with customers as early as 7am Saturday waiting for the banking halls to open.

Our Correspondent who went round the city to capture the mood of the people said that people are worried as to how weather the storm with the unexpected cash squeeze.

A trader, Mrs Ngozi Nwoye said the new naira change has adversely affected their business, saying that most of the shoppers come with old money while the POS operators have stopped collecting old note from them.

Nwoye who sells tomatoes said: “We use to collect old notes from our customers but since Friday, the POS operators stopped collecting it from us. Because of our kind of business, we pay in whatever we make into the bank on daily basis through POS but their recent refusal to collect old money from us has made things difficult.

"We close from market between 6 to 7pm daily and by that time, markets have closed. The only option we have is POS. The bad part is that the new notes are not seen anywhere. I am a trader in the market but since the new money came out, I have not seen nor touched it with my hand. Yesterday I wanted to pay in ninety five thousand naira but the POS operator refused saying that she doesn't want the money to remain in her hand.”

A super market attendant who simply gave his name as Obinna said that his boss gave him strict instruction never to collect old notes from any customer except if it is through transfer.

He said: “Nobody wants the old note to be stuck in his hands because it will be useless and a loss. You see I came early to the bank to pay in the one we have since two days ago. We stopped taking old notes since two days ago. I pray I will be able to pay in this one I have here.”

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