In Nigeria today, accessing cash has become a complicated task, with ATMs and POS systems making the situation more challenging rather than easier for the average Nigerian. ATMs (Automated Teller Machines) were supposed to simplify cash withdrawal, but they’ve turned into a source of constant frustration. For instance, many ATMs are either “out of service” or, even worse, they seem to simply run out of cash. On those rare occasions when an ATM actually dispenses money, the queues are endless, and people are left waiting in hopes of cash that might not even come.

Nigerians continue to depend on POS operators for cash access, perpetuating the cycle and fueling frustration on both sides of the debate .Where Do We Go from Here?

This lack of reliable ATM service has driven Nigerians to depend on POS (Point of Sale) operators, who were initially intended to provide small cash services and help with business transactions. Now, the POS operators serve as an alternative banking solution, charging transaction fees that cut deeply into people’s pockets. For example, someone trying to withdraw 50,000 Naira may have to pay 500 to 1,000 Naira just for the service. With such charges, the question is, who benefits? Certainly not the average citizen.

And if you try to go inside a bank to bypass these obstacles, the experience is often marked by long wait times and inefficient service. This makes one wonder when does the average Nigerian get a break from this cycle of stress? Banking in Nigeria seems to have turned into a system where accessing your own hard-earned money has become a privilege rather than a right.

Going to the bank for cash withdrawals has become almost unheard of, and using ATMs is no longer a dependable choice

As banks like GT Bank and others seem to struggle to provide effective ATM services, the real question remains: why isn’t there a better solution? For now, Nigerians continue to pay the price, both financially and mentally, just to have access to their own money.