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.
Mohammed Tunde-Jimoh Federal Neuro-Psychiatric Hospital John Obuh Modupe Oluwole Bello Oyebanji Dauda Adesola Afolasade Opeyemi Kemi Alfa Modibo Belgore Sanusi Abubakar Kwara South Durbar Ella Supreme Tissue Paper Mutawali Of Ilorin Council Of The Wise Olaosebikan Abubakar Baba Sulaiman Kwara State Governor Ilorin West Iliasu Fatai Adeniyi Garba Kayode Ogunlowo Olatunji Bamgbola Balogun-Ojomu Ayo Adeyemi Olatunji Abdulmumeen Colleges Of Education Academic Staff Union Buhari Ayinde Oki Oladipo Akanmu Tolani Abdullateef Abdussalam Yahaya Oloriegbe March 28 Kehinde Baale Timothy Akangbe Yahaya A Paniyaro Boko Haram Kwara Primary Health Care Development Agency Suleman Abubakar Abdulhakeem Adelaja Amao Basit Olatunji Olohungbebe Yusuf Amuda Aluko Fatimoh Lawal Nigeria Computer Society Bashiru Makama Olatinwo Jimoh Lambe Abdulkareem Abubakar Kawu Baraje Iyabo Adisa Ibiyeye Oke-Ero Seun Bolaji Rashidi Yekini Gobir Organization Foundation Abdulrahman Abdullahi Kayode Surajudeen Akanbi Adesoye Khairat Gwadabe Solomon Edojah Taofik Abdulkareem Babaita Musa Alhassan Buge NSCIA Oba Abdulkadir La\'aro Kwara Polytechnic BIR Olawuyi IYA ALFA NLA Ahmad Belgore Lai Mohammed Okiki AbdulHakeem Ajibola Akanbi Mazars Consulting Ayo Salami Yakub Ali-Agan Muslim Stakeholders Of Kwara State Kwara Muslim Pilgrims Welfare Board Adanla-Irese Nagode

