Naira Scarcity: Youths Destroy POS Stand Amid Protest

Angry residents have gone on rampage in Warri, Delta state as a result of the scarcity of new Naira notes.

Youths staged a protest in the state following the inability to get cash and in the process, they damaged some Point of Sale (POS) terminals.

A video which surfaced online shows the protesters destroying a POS stand because they claimed the operators are extorting them amid the naira shortage.

Prior to the scarcity, POS operators charged N100 for N5,000 withdrawn but they now charge as much as N1500 for same amount to be withdrawn.

According to reports, some POS attendants said the reason for the increase was so that they could make their money back as they purchase the new Naira notes from some bankers as well as filling station station attendants.

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