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.
Garba Dogo Kola Bukoye Ajeigbe Sunset Workers Amuda Bembe Senate Presidency Salmon Babatunde Salmon Sulyman Atolagbe Alege Rapheal Ashaolu Abubakar B.M Jumoke Monsura Gafar Ilorin South Constituency Sulu Babaita Isiaka Bola Tinubu Suraj Tunji Oyewale Code Of Conduct Bureau Ebola Abdulganiyu AbdulAzeez Baboko Primary School Olayinka Oladapo Jogunola Aso Ofi Magaji Erubu Ministry Of Women Affairs And Social Development Christian Association Of Nigeria Elerin Of Adanla Irese Odolaye Aremu Sidikat Uthman Ajibola Undergraduate Bursary John Kehinde Salako Baba Idris Amina El-Imam Yoonus Lawal Ado Bayero Folorunsho Alao Abiodun Jacob Ajiboye Sulaiman Gado Donatus Ejidike Ajasse-Ipo Abdulwaheed Musa Mahe Abdulkadir Jamila Bio Ibrahim MATTA Girls Foundation Offa Descendants Union Ibrahim Abdulkadir Abikan Sarkin Malamai Olota Of Odo-Owa Muyiwa Oladipo Kanu Adedipe Durosinlohun Kawu Facemasks SWAN Saidu Kawu National Union Of Road Transport Workers Chief Of Staff IHS Towers Maigidasanma Muhammed Mahe Abdulkadir Olatunji Abdulmumeen Government High School Adeta Danhawa Abubakar Suleiman NYSC Islamic Development Bank Jimba Babatunde Saudat Abdulbaqi Kola Ologbondiyan Monthly Sanitation Exercise Ibrahim Issa Jetti Yomi Adeboye Iyeru Grammar School ITP Alaro Emir Of Kano Ibrahim Oloriegbe Esuwoye Suleiman Mora Omar Ahmed Dankaya

