As the scarcity of Premium Motor Spirit (PMS) otherwise known as petrol, and the new Naira notes across the country bites hard, and disrupts economic and social activities, some petrol stations are yet making it more complicated for Nigerians.
SaharaReporters’ investigation uncovered how some petrol stations, especially the independent petrol marketers, are sabotaging the cashless policy as they now demand cash to buy fuel in their stations, apart from hoarding the products.
In Enugu State for instance, members of the Independent Petroleum Marketers Association of Nigeria (IPMAN), are now sharing days and hours to member stations to dispense petrol to motorists in efforts to sustain the scarcity of the product and continue increases in the pump price.
Meanwhile, because of the scarcity of the new banknotes – N200, N500 and N1,000 in circulation, IPMAN member stations are also demanding cash to sell petrol to motorists.
Interestingly, checks showed that the most stations have converted their Point of Sale (POS) machines to avenues to sell out cash at exorbitant rates.
It was observed that when anyone came to buy petrol in any of the filling stations, their pump attendants would refer buyers to their POS Operators to make electronic transfer with interests and they would give the motorists cash before they could purchase fuel.
For instance in Enugu, in petrol stations belonging to Romchi Ltd, one will only buy petrol in the stations with cash and where there is not cash, there are standby POS operators who will give cash after 20 to 30 percent interest.
“If you are buying petrol of N5000 in the station you will pay their POS N6500 in transfer and they will now give N5000 cash to purchase the product. Thereafter, the pump attendants will return the cash collected from motorists to same POS operator,” a witness explained.
A source told SaharaReporters that Romchi petrol stations now lend money to people who desperately are in need of cash and other POS agents with 20 percent interest.
“I helped somebody to obtain N1 million from one of the stations but he paid N200,000. So, the person transferred to their account N1.2 million. It is very unfortunate and they are the people and businesses that are truncating the CBN cashless policy,” the source lamented.
In Awka, the Anambra State capital, it is the same story.
For instance, King Fesoil filing station at Aroma Roundabout, beside Chukwuemeka Odumegwu Ojukwu University Teaching Hospital, Awka, did not sell fuel without cash.
“They don’t use POS and they don’t accept transfer. They only accept cash payment and they sell a litre of PMS N500,” a source told SaharaReporters.
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