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.
Gurei Ilorin Curfew Crystal Corner Shops Salami Adekunle Mamman Saba Jibril Abdulrasheed Lafia Local Government Pension Board Kwara State Printing And Publishing Corporation Gbadeyan Gbadura Yomi Budo-Egba Ibrahim Taiwo Road Bolaji Gambari Garuba Alikinla Shittu Shaykh Luqman Jimoh Agor Market Bayo Mohammed Onimode Ibrahim Issa Jetti Muazam Nayaya Ibrahim Abiodun Jebba Bayo Ajia Yakubu Danladi Yakubu Gobir Mustapha AbdulGaniyu Galadiman Ngeri Kayode Ishola Kawu Umar Gunu Ayobami Akanbi Falokun-Oja Iqra Books Issa Manzuma IESA KW-GIS Salihu Alhaji Musa Saka Abimbola Isau ER-KANG Mining Nigeria Company Limited Lucky Omoluwa Idiagbon Aro Yahaya Aminat Omodara Mahmud Ajeigbe Suleiman Mora Omar Sobi Hill Oba Abu Ezekiel Yissa Benjamin Igbomina Adebayo Salami Taofik Abdulkareem Babaita Aminu Adisa Logun Aliyu Adebayo Segun Ogunsola Tafida Baba Isale Azeez Bello Moses Afolayan Muhammad Fawaz Abubakar Sai Kayi EFCC Obayomi Azeez Popo-Igbonna Vasolar Yekeen Alabi Ariyo Alagbado Mope Dasuki Belgore Gbenga Adebayo Adama Isa Olayinka Oladapo Jogunola Arik Dapo Teni Nig Enterprise Nigeria Foundation For Artificial Intelligence Saduki Lafiagi LABTOP AbdulHakeem Ajibola Akanbi Awili Pedro Agboola Abdulraheem

