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COVID-19 was discovered in Wuhan, China, in December 2019. It spread quickly, though, and had a devastating impact on all countries and territories around the world. As of October 5, 2020, approximately 6 million COVID-19 cases had been reported worldwide, with over 1,000000 deaths (Johns Hopkins University, 2020; WHO) (2020). These figures were staggering, and the pandemic marked a watershed moment in recent world health history.

The disease does not discriminate against people based on their age, sex, gender, color, ethnicity, social standing, or other social traits, according to health researchers (WHO, 2020)

The virus was first found in Nigeria on February 27, 2020, when an Italian visitor tested positive for SARS-CoV-2, the virus that causes the disease. On March 9, 2020, in Ewekoro, Ogun State, a Nigerian citizen who had contact with the Italian index case verified a second case of the virus. The global spread of the COVID-19 virus has put countries around the world, particularly Nigeria, into a health emergency.

The Federal Government, in partnership with state governments, enforced a lockdown in Lagos, Abuja, and Ogun to battle the spread of COVID-19, which was later expanded to other regions of the country. As a result, the economy has been disrupted, affecting practically every part of it, including individual migration.

Mobile banking, which is one of the major commercial banks’ services, looked to be the only option available during this time because it allows for several transactional features through the use of a smart phone, POS, and other devices.

Individuals were able to withdraw monies, make cash deposits and transfers, and so on, thanks to the availability of POS along the roadsides. The imposed lockdown in Nigeria, on the other hand, restricted the activities of POS businesses, resulting in a scarcity of withdrawal points and other banking services. However, the few available POS operators in Lagos State, Nigeria, charged an extraordinary service fee. As a result, the purpose of this study is to look into the impact of Covid-19 shutdown and POS withdrawal costs in Lagos State, Nigeria.


The Nigerian government’s move to lock down Covid-19 as a preventive measure against the virus’s spread was praised as a wise one. However, it had a negative impact on the social and personal well-being of its residents. The most irritating aspect was that people had regular financial needs that could only be met with the help of financial institutions, yet they had no freedom of movement and banks were closed.

Individuals were able to execute cashless transactions and other financial operations because to the availability of POS. The imposed lockdown in Nigeria, on the other hand, limited the activities of point-of-sale businesses, resulting in a lack of withdrawal points and other banking services. As a result, the few accessible POS providers in Lagos State charged an unusual service cost.


The researcher devised the following goals in order to complete this study:

Examine whether the Covid-19 outbreak impacted POS availability in Lagos State.


Determine whether the Covid-19 shutdown precautionary measure implemented in Lagos State, Nigeria, caused in the normal increase in POS costs.


Examine whether the Covid-19 lockup and POS charges harmed residents’ access to funds.


1. Has the Covid-19 outbreak impacted the availability of point-of-sale systems in Lagos?

2. Has the Covid-19 lockout, which was implemented in Lagos State, Nigeria, resulted in the typical POS charge price hike?

3. Has the Covid-19 lockout and POS charges hampered Lagos residents’ access to funds?


This study on the impact of the Covid-19 lockdown and POS withdrawal charges in Lagos State will be extremely useful and informative to the Lagos State Government as well as the Federal Government of Nigeria, as it will highlight the importance of considering the well-being of its citizens and making appropriate provisions when imposing drastic changes in society.

Furthermore, this research will be beneficial to students, researchers, and anyone who may be working on a research paper comparable to the one under consideration in their respective fields of study.


The study includes an examination of the impact of the Covid-19 outbreak on the availability of POS in Lagos State, as well as a determination of whether the Covid-19 lockdown preventive measure imposed in Lagos State Nigeria resulted in the usual price hike of POS charges, and finally, an examination of whether the Covid-19 lockdown preventive measure resulted in the usual price hike of POS charges.


Language obstacles, respondents’ attitudes, budget constraints, and time constraints were all key constraints in this study, as the researcher only had a short time limit to complete it.


Covid-19, commonly known as the coronavirus or COVID, is a contagious disease caused by the coronavirus 2 that causes severe acute respiratory syndrome (SARS-CoV-2).

Lockdown: A lockdown is a policy that requires people or communities to remain in their current location owing to specific threats to themselves or others if they are allowed to travel and interact freely. Lockdowns that effect an area rather than specific sites are commonly referred to as “stay-at-home” or “shelter-in-place.”

The time and place where a retail transaction is completed is referred to as the point of sale (POS) or point of purchase (POP).

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