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.
Shuaibu Yaman Abdullahi Kwara State University Of Education Joshua Adeyemi Adimula Olam Food Ingredients AbdulGaniyu Kareem Lawal Olohungbebe Bankole Omishore Convocation Ceremonies Hamidat Sulyman-Yusuf Marufat Oladosu Aliyu Olatunji Ajanaku Ishak Mohammed Sabi Mashood Dauda Saka Adeyemo Okala Baba Radio Kwara Kassim Babamale Baba Issa Awoye Yusuf Babatunde Abdulwahab Vasolar Consortium Folorunsho Alao Kanu Agabi Post Utme Henry Olaosebikan Mohammed Lawal Facebook Emmanuel Bello Garba Idris Ajia Saidu Kawu Mustapha AbdulGaniyu Babatunde Ajeigbe Kayode Oyin Zubair Yusuf Abdulkadir Ilorin Descendants Progressive Union Sulyman Buhari Mutawali Dasuki Belgore Shero Sarafadeen Kayode Akorede Pilgrims Board Afolayan Ibrahim Abdullahi Rafiu Ajakaye Kpotum Mohammed Baba Mufti Of Ilorin Bello John Olanrewaju Amos Bajeh Adesoye Amosa Bashirat Bola Bello TIIDELab Elerinjare Idiagbon General Tunde Idiagbon International Airport Medview Airlines Ishola Abdullahi Kwara-SAPZ Project Amina El-Imam Musa Ayinla Yeketi Mogaji Aare Saheed Popoola Moro Abdulmajeed Wahab Harafat E. Mukadam Abubakar Abdullahi Bata Millennium Development Goals Kwara Apc Adisa Logun Folajimi Aleshinloye Jumoke Gafar Sheikh Ariyibi Bukola Saraki Bashir Badawi March 28 Sola Saraki Educational Foundation Basic Education Certificate Examination Kamaldeen Kehinde

