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.
Kwara Politics Elewu Tunji Folami Balogun Fulani Mohammed Abduraheem Malete Yomi Adeboye Falokun-Oja Demola Banu Segun Adeniyi Ajibola Ademola Julius Oniwasi Agbaye Ridwan Agboola Amusement Park Abdulwasiu Bolaji Adeyi IFK MMWG Salary Edret Sabi Abel Balikis Jawondo Oyelere Oyinloye Olatunde Olukoya Ayinke Saka Aremu Bose Deborah IPSAS Adesina Simon Sodiya Adesoye Toyin Olayinka Tejidini Guber Aspirant Ibrahim Gambari Revenue Court Maryam Ado Bayero REO CAKES Muyiwa Oladipo Kanu Baakini Isiaka Alikinla Iponrin Kwara North Ganiyu Taofiq Vasolar Consultoria Labaeka Kwara Volleyball Association Ajidagba Olatunji Bamgbola John Kehinde Salako Sam Onile Kwara State Infrastructure Development Fund S.O. Opowoye Alagbado Bluenile Associates Yahaya Dumoye Okanlawon Musa 2023 Elections Adewuyi Funmilayo John Dara Gbemisola Oguntimehin Millennium Development Goals Aisha Ahman Pategi Yahya Mohammed Abubakar Imam Abdulkadri Ahmad Alaiye Kwara State Polytechnic Kwara United Okala Baba Afolabi-Oshatimehin Salihu Ajibola Ajia Omotosho Mopelola Abdulmaliq-Bashir Local Government Hydro-electric Power Producing Areas Development Commission Bature Bello NIPOGA Taofik Abiodun Ahmed ASMAU PLAZA Salake Ajeigbe Shehu Alimi Foundation

