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 Mohammed Ajia Ibrahim Bolaji Aladie Dar-Al-Handasah Consultants Ltd Olaitan Buraimoh Michael Nzwekwe Prince Mahe Abdulkadir Hijab Yeketi Centre For Digital Economy Shaaba Lafiagi Riskat Opakunle Kwarareports AbdulRauf Keji Oba Sulaiman Asude Bola Shagaya Kwara United Ajike People Support Centre Assayomo Kisira Yusuf Lanre Badmas Mohammed Khadijat Kubura Arik Shehu Alimi Foundation For Peace And Development Ilorin Like-Minds Taiwo Joseph Adeola Abraham Mumini Ishola Hanafi Plat Technologies Kumbi Titilope Baruten Mamatu Abdullahi David Oyepinola Adedumoye Balogun Ajikobi Dankaka Olam Food Ingredients Oba Mogaji Abdulkadir Y.A. Abdulkareem FERMA Offa Yahya Mohammed Sunday Popo-Ola TETFUND Femi Ogunsola Mukhtar Shagaya Maryam A. Garuba Funmilayo Zubair Muhammad Ghali Alaaya Pacify Labs Abdulkareem Alabi Kehinde Baale Tsaragi Wale Oladepo Oyin-Zubair Mike Omotosho Wahab Olasupo Egbewole Moses Adekanye Jumoke Monsura Gafar Nigerian Supreme Council For Islamic Affairs ENetSuD Durbar Festival Smart School Khadijat Ayoola Yusuf Mazars Consulting Lucky Omoluwa Babs Iwarere Shao Abdulwaheed Musa IYA YUSUF PPS Oya State Theophilus Oyebiyi Adanla-Irese Kulende-UITH Tsaragi/Share Sobi Specialist Hospital Jaiz Bank

