Importance of POS Operation to Nigerian Economy

System of Banking in Nigeria has seriously evolved over the years. From the time of using cash books over the counter, to the introduction of ATM machines and cards. 
Then, in 2013, the Central Bank of Nigeria (CBN) launched agent banking and point-of-sale systems to increase financial inclusion in the country. 

Since then,  cash transactions have been easier with almost no need to visit the banks.

24/7 AVAILABILITY
True, most ATM machines have written on them, 24/7 but most of them don't have cash all the time. PoS operators or agents are always available for most part of the day. Some are in hotels, stadia, business environments, inside the streets etc.

Their availability have made it easier for business transactions to either transfer or withdraw cash. 

Also, because they are available everywhere, it has reduced the need for people to incur much transportation cost to go to the bank. Most streets in Nigeria have multiple POS shops that one can transact with.

HOLIDAYS
Most times, banks will have to close down during holidays for their staff to observe the holidays. This is not applicable to these mostly one man businesses. They are available to meet the financial needs of the customers. Most open early and close late making it easier for daily income earners to withdraw and make purchases to meet the needs of the family.

JOB OPPORTUNITY
According to the Nigeria Inter-Bank Settlement System, there are over 1.9 million PoS terminals deployed by merchants and individuals nationwide. The country has a lot of graduate that have no jobs. This opportunity has been tapped into as a means of employment. Many are even employers of labour. By this means, many Nigerians are able to feed and sustain their families.

How else do you think POS operation has helped the economy, comment section is open.

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