In the process of traveling back home for Christmas celebrations, I had to tell my dad to send me some money for my transport back home because of the hike in the price of transportation. I never wanted to go so fast, but I remember that when it gets very close to Christmas, the public transport will add more money to the price we are to pay, and you will have no choice except to have your own vehicle.
After he sent the money to me, I then went out to the nearest ATM gallery near me, but unfortunately I wasn't able to make any withdrawal because the money deposited there had been withdrawn to the last and there was nothing left. I had to think of what to do next because I didn't want to make use of a POS because of the extra charges of 100 naira that they would deduct, but I had no other choice left because I needed the money.
I went straight to the POS stand to request for cash to be withdrawn. Normally, when you are withdrawing below 5000 naira, you are to pay a sum of 100 naira as charges, and when you are withdrawing above 5000 naira, you pay 150 or 200 naira like that.
But I was very surprised yesterday when I got there and told them I wanted to withdraw 8 thousand naira, and I was told 300 naira for the charges. Immediately, I felt like I had missed the way to the right channels to withdraw, but no, I was in the right place. I asked about 5, though, and she said 200 naira. I was very surprised, and I was asking why the price tag has increased so fast because it's a fixed price for most people using POS.
Without talking too much, I went to another POS stand, and that was even the worst part of it and where I saw it all. When I got there, I just asked her how much she would charge for 8 thousand naira, and she said 500 naira. Ohh! I was dumbfounded and couldn't ask any further because the money she even mentioned was nothing like what I had been told before. So I left without even stressing myself.
While I was going back home, I saw another POS stand. I was going to ask, but I could not because of the price that one will also say, but I am in need of cash. What more can I do? After a lot of talk, I added to remember that the banking hall will still function today because it's still a work day, and I should not bother myself about the price I have been hearing. What baffles me is sometimes the fact that people complain about the scarcity of funds when they have the ability to go into the banking hall to get money to use for business.
But in this scenario I observed yesterday, I don't know what must have made that occur because I didn't bother to ask, and I am very sure the right answer they give when such things happen is that there is no distribution of funds from the bank, so as a small way of earning, they decided to sell money for their own gain, which is not the right thing to do. Scarcity of funds and any prominent resources is not a good thing because it destroys the economy of a country.