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.
Rihanat Ajia Kwara State Health Insurance Agency Abdulfatai Baakini Micheal Imodu-Ganmo Road Coronavirus Bureau Of Lands Ariyo Amos Justus Sayo Idris Amosa Saidu Riskat Opakunle Yeketi Olokoba Sulyman Susan Modupe Oluwole Adisa Logun Ballah Ubandawaki Odolaye Aremu Oloje Niguel Gallando Marcias AbdulGaniyu Kareem Sabo-Oke Abdulrazaq Solihudeen Split Diamond Interchange Soffiyyallah Kamaldeen Kumbi Titiloye LAK Jimoh Ezekiel Yissa Benjamin Risikat Lawal Diagnostic Centre Egbejila Salihu Ajibola Ajia Olofa Of Offa Clement Yomi Adeboye Lithium Read With Me Femi Oladiji Alikinla Hassan Oyeleke Geri-Alimi Split Diamond Interchange Countryside Emerging Leaders Fellowship Umar Danladi Shero Salman Suleiman Sheikh Ridhwanullah Kwasu Bamidele Adegoke Oladimeji Just Law Forum AbdulKareem Yusuf Danhawa Dapo Teni Nig Enterprise AbdulRaheem Ahmad Shayi Ibrahim Taiwo IF-K Abdullahi Saadudeen Alikinla Oni Adebayo Ibrahim Abikan Sidikat Akaje Babatunde Ajeigbe Sulyman Age AbdulKareem Bayo Ajia Kwara Metro Park Village Alive Development Association Abdulquawiy Olododo Ajibola Saliu Ajia Albert Ogunsola Emmanuel Bello Oye Tinuoye Nigeria Governors\' Forum Lai Mohammed Yusuf Abdulraheem Abdulrasaq Alaro Bisi Kristien ASMAU PLAZA Aisha Abodunrin Ibrahim Opolo Global Innovation Limited Muhammed Akanbi Moshood Kashimawo Abiola Abdulmutalib Shittu Funmilayo Mohammed

