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.
UNILORIN Alumni Association Olosi Of Osi JAMB SSUCOEN SUBEB KWACOBPA AGILE Programme Oko Erin Femi Gbajabiamila Ayegbeni Aminat Ahmed Abatemi-Usman Bisi Kristien Ayodele Olaosebikan 20 Billion Bond Yunus Oniboki Oba David Oyerinola Adedunmoye Playing Host Maigida Soludero Transit Omu-aran Alao Ayotunde John Olajide Adedipe Sunday Fagbemi Mustapha Akanbi Mohammed Khadijat Kubura Akeem Olatunji State Bureau Of Internal Revenue Abdulhakeem Amao Abdulmalik Bashir Mopelola Risikatullahi Ahmad Lawan Sebastine Obasi Inside Kwara Salau Kabiru Abdullahi Bola Sagaya Lanre Badmus Ayedun Oyedun Juliana Funke Muhammed Danjuma Tricycle Owners Association Of Nigeria Amos Justus Sayo Haruna Tambiri Mohammed ER-KANG Lateef Fagbemi MINILS Abdulmumin Yinka Ajia Shehu Jimoh New Nigeria People’s Party Laolu Saraki Ayo Opadokun Muhammed Abdullahi Ophthalmological Society Of Nigeria Magaji Nda Saka Aleshinloye Binta Abubakar-Mora MMWG Ayo Adeyemi Abdulrasheed Akogun EFCC Saraki Mamatu Abdullahi Shettima Abraysports FC ER-KANG Mining Nigeria Company Limited Ilorin Anchor Men And Women Oladipo Akanmu Tolani Clement Yomi Adeboye Suwa-Arabs Bolakale Saka Third Estate Ilofa Babaita Osuwa Samuel Adedoyin Garuba Alikinla Shittu Ilorin Likeminds Foundation Salaudeen Oyewale Benin Republic

