…. meets with POS operators to cushion the effect of cash crunch
As part of measures to alleviate the sufferings of Edo residents in the light of the scarcity of the new naira notes and its attendant challenges, the Edo State Governor, Mr. Godwin Obaseki has directed the Edo City Transport Service (ECTS) to provide free bus rides to commuters with effect from Thursday 16th February 2023, as a means of cushioning the effect of the cash crunch experienced by the residence of the State. The directive stated that the free bus ride will be applicable for all routes and will remain in place through Monday, February 20, 2023, at which point more information will be released.
In a similar Development, the Governor met with Point of Sales Services (POS) operators, expressing displeasure over the herculean processes and high fees residents of the State often pay to access their funds through the POS. He revealed that the Central Bank of Nigeria (CBN) has provided cash for POS operators who would be placed at strategic withdrawal points, such as markets and other locations across the State. These POS operators will be monitored by the CBN and other security agencies to ensure compliance.
It would be recalled that the Edo State Government recently held a meeting with the CBN representatives in attendance, and briefed residents on the various efforts the State Government has made in collaboration with the CBN to ease the current challenges faced by residents in the face of the current cash crunch.
The Edo State Government has also warned against extortion from POS operators and has introduced dedicated call lines where residents can lodge their complaints in the event of outrageous charges from any POS operators in the State. All these measures are in addition to the various efforts by the Godwin Obaseki administration to improve the lives and standard of living of residents in the State.
The Governor has urged citizens to maintain peace and follow the law while promising that order will soon return. He also empathizes with their plight and noted that his administration will continue to place the welfare of Edo residents as a top priority even in the face of daunting challenges.