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.
Lanre Olosunde Okanlawon Taiwo Ahmad Belgore Inside Kwara Ibrahim Oloriegbe Aishat Mohammed Lawal Kubra Kazum Bukola Saraki Sheriff Shagaya Kwara State Polytechnic Folajimi Aleshinloye Musa Yeketi Soffiyyallah Kamaldeen Ilorin Curfew Modupe Oluwole Muideen Olaniyi Alalade Saliu Shola Taofeek Wasiu Odewale Ibrahim Agboola Gambari Sa\'adu Salahu Nurudeen Muhammed Ishola Moses Abiodun Habeeb Saidu Kwara Apc Ishola Balogun Fulani Hajj Ilorin Emirate Stakeholders Forum Abdul-Rasheed Na\'Allah AbdulRaheem Ahmad Shayi SUBEB Public Holiday Shehu Alimi Foundation For Peace And Development Tafidan Kaiama Yakubu Mohammed Abdullahi Women For Change And Development Initiative Funke Adedoyin Shola Odetundun Yusuf Olaolu Ali Dan-Kazeem Muazam Nayaya Oniwasi Agbaye Ilesha-Baruba-Gwanara Kwara State Infrastructure Development Fund Ilorin International Airport Esuwoye National Pilot Ilorin Emirate Staff Association Kwara University Of Education TETFUND Onilupeju Of Ilupeju Folorunsho Alao Sunset Workers Shao Emir Of Yashikira Ayobami Akanbi Umaru Saro Adesoye College Senate President Gurei Savannah Centre For Diplomacy, Democracy And Development Yakubu Gobir Bola Tinubu 3MTT Zainab Abass Umar Yakubu Jaja Pakata Development Association Yusuf Badmus Kola Shittu KWACOBPA Mohammed Ibrahim Sherif Shagaya Jare Olatundun Ilorin General Hospital Olabimpe Olani Ben Duntoye Offa Descendants Union Third Estate

