Traders reject Mobile Transfers in Taraba

Forum 1 year ago

Traders reject Mobile Transfers in Taraba

Traders have started rejecting mobile transfers in some markets in Taraba state, insisting that cash must be paid for their commodities.

Reports from Wukari Yam market in Wukari local government area of the state indicate that customers without cash at hand were not able to buy yams.

This is just as the cost of each thousand from some Point of Sale, POS, operators within Jalingo, the capital have now risen to N150.

This is just as some traders appealed to commercial banks to distribute POS machines free of charge to business accounts in markets to reduce pressure on banks.

A resident of Wukari, Henry Agbu, who spoke to Vanguard via telephone said the yam merchants are insisting of cash payment for their goods.

According to him, “the POS guys at the market don’t even have money.

“But now traders are insisting that cash must be paid before yam would be sold.

“This is a big problem because the Naira scarcity have affected sales.”

Vanguard also learnt that due to limited daily withdrawal at the bank and Automated Teller Machine, ATM spots, some POS operators are now in business with big traders who offer cash to them at a cost.

The POS agents in turn increased the cost of each thousand from N100-N150 to make gain.

A livid resident who spoke to Vanguard lamented that he bought N5000 from a POS agent at N5750.

He further appealed that commercial banks should expedite action by making the new notes available to their customers.