POS Operators in Ilorin Struggle to Source Cash Amid Statewide Crunch
Residents of Ilorin, the Kwara State capital, on Monday, expressed concerns over the ongoing cash crunch affecting daily transactions in the state.
Point of Sale (POS) operators in the city revealed that they have resorted to sourcing cash from unconventional places, such as filling stations and other business establishments, to meet customers' demands.
The shortage of cash has caused significant disruptions in the local economy, leaving residents and businesses grappling with financial uncertainty.
This is coming in the wake of similar reports in other states of the country.
A POS operator, Mrs Olaonitan expressed frustration sourcing money from banks.
She said the banks now give as low as N5,000 in some cases to customers.
She added that they now “Source cash from filling stations” and other cash collecting businesses across Ilorin metropolis.
It was observed that some of the POS operators have inflated charges to N150 from N2,000 instead of N100.
A staff of one of the commercial banks at Unity Road, Il?rin said although the issue is connected to the farming season, many of their customers no longer visit for deposit but for withdrawals.
“We started noticing it last week but it had now worsened”, he said.
He, however, added that they have limited withdrawal to N30,000 irrespective of the customer's demand adding that “I am aware of some bank pegging theirs at N20,000 and even lower”.
Cloud Tag: What's trending
Click on a word/phrase to read more about it.
Moshood Bakare Opaleke Bukola Iyabo Irepodun Ishak Mohammed Sabi United Nigeria Congress Party Yemi Osinbajo Mahmud Babatunde Baker Abdulfatai Baakini Bisi Oyeleke Stephen Fasakin Mohammed Khadijat Kubura Mutawalle Mahfouz Adedimeji Alfa Yahaya Road Yusuf Abubakar April 11 Ilorin Olabode George Towoju Kawu Elewu Akume Abraysports FC Ahmad Ali RTEAN Apaokagi Quareeb Islamic Association Mohammed Danjuma AbdulGafar Tosho EndSARS Sulyman Atolagbe Alege Mohammed Yahaya Barki Saliu Tunde Bello Risikat Lawal Idris Amosa Saidu Ademola Kiyesola Muhammad Mustapha Suleiman Awodun Ayobami Seriki Titus Ashaolu Ibrahim Sulu Gambari Tunde Yusuf Muslim Cementary Kwara State Polytechnic Amusement Park Hausa Adisa Logun Bamidele Adegoke Fola Consultant Amada Jidda Mansurat Amuda-Kannike Oyelere Oyinloye Owo Isowo MAI Akande Innocent Okoye Kola Bukoye Eleja Busari Alabi Alausa Federal Allocation Oja-Oba Taofeeq Olateju Ajike People Support Centre Solomon Edoja CACOVID Tunji Olawuyi Ilorin Emirate Alloy Chukwuemeka Sunday Fagbemi ITEM 7 Abdulhakeem Adelaja Amao PharmAccess Foundation Razaq Ayobami Akanbi Abraham Ojo Salmon Babatunde Salmon Akorede Asa Sarafadeen Kayode Akorede Toyin Sanusi

