OPS Slams CBNs Limit on PoS Withdrawals as Cash Scarcity Solution

The Organised Private Sector has criticized the Central Bank of Nigeria's decision to limit PoS withdrawal limits, citing cash scarcity as a major issue. The sector argues that this restriction is not in line with their operations.

The Organised Private Sector (OPS) has expressed strong objections to the Central Bank of Nigeria's (CBN) decision to limit withdrawals from Point-of-Sale (PoS) agents due to cash scarcity concerns. The OPS argues that this restriction is not based on a thorough understanding of the issue and may unfairly impact businesses and individuals relying on these transactions. By limiting withdrawals, the CBN aims to conserve liquidity, but the OPS believes this approach may only exacerbate existing problems rather than solving them.