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.
Funmilayo Zubair Gbenga Awoyale Olokoba Abdullahi Ayinla Ibrahim Jawondo Yomi Adeboye Christopher Odetunde Okanlawon Musa Offa Poly Kwara State Pension Board ER-KANG Otunba Taiwo Joseph Yahaya A Paniyaro V.O. Abioye Suleiman Ajadi Kwara Primary Health Care Development Agency Abatemi-Usman Ishola Abdullahi Idowu Laro Alagbado Idris Amosa Saidu AbdulRahman Saad ANCOPPS Suleman Abubakar Kwara State Polytechnic Lai Mohammed Durosinlohun Atiku Dan Iya Yinka Aluko Kwara 2019 Oloriegbe Isiaka Rafiu Mope Communication Network Support Services AbdulFatai Adeniyi Dan-Kazeem Iliasu Post Utme KWAFFA National Broadcasting Commission Bola Sagaya QuickWin Kayode Bankole Shola Odetundun Mumeen Lah Pakata Patriots Abdulraufu Mustapha Aliyu Muhammad Saifudeen Idris Garuba Okin Group Hassan Oyeleke Buari Edun The Herald Elesie Of Esie Musa Alhassan Buge Wahab Abayawo Fola Consultant Abubakar Baba Sulaiman John Kehinde Salako Convocation Ceremonies Abubakar Bature Sulu-Gambari Ahmad Olanrewaju Belgore RTEAN Kwara 2023 Budo-Egba KWTV Zara Umar Ilorin Emirate Stakeholders Forum Amos Bajeh Umar Ahmed Gunu Bolaji Nagode Alaiye KFA Abdullahi Adisa Akodudu Katibi Ibraheem Adeola Coronavirus Zulu Gambari Olayinka Oladapo Jogunola Aishat Mohammed Lawal TIIDELab

