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.
IQRA College Peter Obi Sambo Murtala Kwara State Football Association Sidikat Akaje Tayo Awodiji Hydro-electric Power Producing Areas Development Commission Hassan Saliu Abdulrahman Abdulrazaq Muhammad Mustapha Suleiman Abdulrasheed Lafia Quareeb Oyedun Juliana Funke Haliru Yahaya Kishira Universal Basic Education Commission Sulyman Tejidini UNILORIN Alumni Akanji Abubakar Aliagan Owode Market Olokoba Abdullahi Ayinla KWSIEC Suleiman Mora Omar PPS Jelili Yusuf Maja Alfa Modibo Belgore Oko-Erin Adebayo Mohammed Kamaldeen Smart School Mahmud Ajeigbe Oluwole Dupe Otoge Majlis For Sadakah, Zakat And Waqf Mujtabah Bature National Broadcasting Commission NaAllah Kolade Solagberu Saudat Abdulbaqi Yetunde Balogun Wasiu Onidugbe David Adesina Mopelola Abdulmaliq-Bashir Idofin PharmAccess Foundation Alanamu Fatai Olodo YAKOOYO LEAH Charity Foundation Sarah Jubril Abdulrazaq Akorede Seed Technologies Kehinde Baale Simeon Sayomi SARS Coronavirus Kwara Central Abubakar Baba Tope Daramola Abdul-Rasheed Na\'Allah Emmanuel Olatunji Adesoye Okedare Harrison Osauwagboe Wahab Agbaje Muhammed Mahe Abdulkadir Dar-Al-Handasah Consultants Ishak Mohammed Sabi Alliance For Democracy Javed Khan Mufti Of Ilorin Abdullateef Abdussalam Micheal Imoudu Abdulrahman Abdullahi Kayode Simeon Ajibola Sun Qing Rong Adeola Abraham

