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.
Mujtabah Bature Amoyo Ahmed Saidu Rufai Yahaya A Paniyaro Abubakar Kawu Baraje Kwara State Fire Service Vasolar Abubakar Abdullahi Bata Taibat Ayinke Ahmed Summit University Sulyman Tejidini Elerin Of Adanla Elese Of Igbaja Pacify Labs Idris Amosa Oladipo Saidu Raimi Iyanda Lafiagi Ijagbo Health Centre Yakubu Gobir Ilorin Amusement Park Lukman Oyebanji Fagbemi Ahmed Dankaya Hamza Usman Sidikat Alaya Ishola Abdullahi Bola Iyabo Ibiyeye Adisa Abdulazeez Arowona Binta Sulyman Yusuf Aiyedun Olateju Lukman Obasanjo Coalition Of Kwara North Groups Bello Oyebanji Oba Of Jebba Abiodun Musa Aibinu Maryam Nurudeen Tunji Olawuyi Reuben Paraje Laduba Niyi Ogundiran Goodluck Jonathan Harafat E. Mukadam Kwara State Coalition Of Business And Professional Associations Balogun Fulani Sa\'adu Salau Christopher Tunji Ayeni Yetunde Balogun ANCOPPS AbdulRasaq Abdulmajeed Alaro Sheikh Ridhwanullah El-ilory Tuesday Assayomo Salihu Alhaji Musa Just Law Forum Muftau Akanbi Oke Ibrahim Taiwo Peculiar Allowance Baba Adini Of Kwara State Prince Mahe Abdulkadir Osinbajo Alaiye Oju Ekun Sarumi NNPP Special Agro-Industrial Hub Ahman Pategi University Saadatu Modibbo-Kawu Aisha Ahman Pategi Idowu Laro A.O. Belgore Lukman Adeloyin Razaq Atunwa Tunji Moronfoye David Oyepinola Adedumoye Oro Grammar School Old Students Association Is\'haq Modibbo Kawu Aisha Buhari Awwal Jawondo Samari

