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 TV Micheal Imoudu Majlis For Sadaqah, Zakat And Waqf Mohammed Ghali Alaaya Oba Abu Ahmad Olayiwola Kamaldeen Kwara Restoration Project Marafan Shonga Oko-Olowo Florence Saraki Democracy Day Musa Alhassan Buge Femtech Sherif Sagaya Falokun-Oja Oluwarotimi Boluwatife Adenike Adesoye College Dankaka Ishola Balogun Fulani Yusuf Lawal Hussein Olokooba Kale Belgore Abdullah Janet Amudat Afonja Descendants Union Tanke Road Olayinka Olaogun Omu-aran John Olajide Adedipe Shehu Alimi Foundation For Peace And Development Bola Shagaya Awili Pedro Aliyu Salihu Oloriegbe Shonga Farm Project Balogun Ajikobi SSA Youth Hajj 11th Galadima Kwha.gov.ng Binta Abubakar-Mora Just Event Online Yusuf Badmus Ibrahim Mashood Muhammad Yahya Okin Malt Aliyu Umar Isapa High Court Dauda Adeniran Adeshola Olushola Saraki NAWOJ Issa Oloruntogun Muhammad-Mustapha Suleiman Sambo Murtala Kayode Bankole Olokoba Sulyman Yusuf Arowosaye Gurei Saliu Shola Taofeek Fatima Abolore Jimoh Shuaib Jawondo Hamid Bobboyi Vasolar Consultoria Isin Risikat Lawal ITP Onilu Tosin Saraki Ilorin Amusement Park Otuka Amule Elementary School Kola Ologbondiyan Agor Arandun Muazam Nayaya Rihanat Ajia Abdulquawiy Olododo

