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.
Yusuf Amuda Aluko Just Law Forum Abdulmutalib Shittu IF-K Hijaab Ahmad Lawan Www.Kwarareports.com Patience Jonathan Afeyin-Olukuta Shehu Alimi Foundation Colleges Of Education Academic Staff Union ARMTI Opobiyi Halidu Danbaba Ahmed Ayinla Jimoh Dan Masanin Chief Imam Of Ilorin Olukotun Of Ikotun Yekini Adio Abdulrahman Abdulrazak Doyin Awoyale Jumoke Gafar Toyin Abdullahi JMK Construction Company Limited Bashiru Makama Taofeeq Olateju Oko Ita-Nmo Market Odolaye Aremu Adeniyi Ojo Federal College Of Education (Special), Afon PPS Abubakar Imam Baba Isale Ilorin Anchor Men And Women International Public Sector Accounting Standards Nigeria Association Of Women Journalists Ebola Makama Of Kaiama Bamidele Aluko Omar Gambari Elerin Of Adanla Quran Sa\'adatu Modibbo-Kawu Muhammad Yahya Ajibola Ademola Julius Kamoru Kadiri Abubakar B.M Sheriff Olanrewaju Folajimi Aleshinloye Gbadeyan Gbadura Yomi Kwara University Of Education Kayode Issa Kemi Adeosun Gobir Muhammed Abdullahi Henry Olaosebikan Razak Atunwa Bamikole Omishore Mohammed Danjuma Pakata Development Association Charcoal Leke Ogungbe Kumbi Titiloye Sam Onile Oyun Tunde Saad Abdullahi Saadudeen Alikinla Abdulrauf Aliyu Umar Sanda Yusuf 3MTT Facemasks Bello Oyedepo Isiaka Danmeromu Apaokagi Maryam Ado Bayero Kwara State Sports Commission

