THE POLITICAL ECONOMY OF COMMERCIAL BANK’S COLLABORATION WITH POINT OF SALE (POS) OPERATORS AND ECONOMIC HARDSHIP IN NASARAWA STATE, NIGERIA

Abstract

This study dissected the interface between the political economy of commercial bank’s collaboration with POS operators and economic hardship in Nasarawa state, Nigeria. The current wave of economic hardship orchestrated by the unethical behaviour of banks and greedy POS operators, has reached a glaring crescendo. This study utilizes the political economy approach to demystify this esorterism. The study focused on three research questions, three hypothesis

and the objectives were to find out if commercial banks in Nasarawa state has adhered to the guidelines provided by CBN of periodically loading ATM with cash. Secondly, to find out if there is a deliberate connivance between commercial bank staff and POS operators in Nasarawa by ensuring that Automated Teller Machine (ATM) in the state are not always loaded with cash.

Thirdly, to discover if it is sheer wickedness and greediness that prevent commercial bank staff

from loading ATM with money in the state. The method of data collection were documentary

and survey. In the survey, a sample of 401 questionnaire was drawn from a total population of

2,523,400 using the Taro Yamane Statistical formula. We utilized the chi-square (x2

) as an

method of analysis while our theoretical frameworks was anchored on the political economy

postulation. The study found that commercial banks in Nasarawa state do not adhered strictly

to CBN’s guidelines of periodically loading ATM in the state with money. It was also discovered

that there is a deliberate connivance between some commercial banks staff and POS operators

in Nasarawa state to ensure that ATM are not periodically loaded with cash. We recommended

that Nasarawa state government should ensure that commercial bank should be periodically

loading ATM with cash. We equally recommended that government should punish any staff of

commercial banks, who refuses to load ATM with cash. Thirdly, any bank staff who goes against

the regulated bank rules should be fired, after two consecutive warnings.