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.
Communication Network Support Services Issa Manzuma Government High School (GHS), Adeta AbdulKareem Yusuf Danhawa Senate President Issa Baba Oke-Oyi Inside Kwara Asiwaju Bola Tinubu Kwara Consultative Forum Ahman Pategi Buari Edun Chief Imam Of Offa Rotimi Samuel Olujide Sulu Babaita Isiaka Theophilus Oyebiyi Salman Suleiman Ganmo Electricity Sub-Station Mohammed Yahaya Barki Lola Olabayo Abdulrahman Abdulrasak Maigida Gwanara New Nigeria People’s Party Kawu Abdullateef Abdussalam Olatunji Ayeni Paul Olawoore Monthly Sanitation Exercise Abdulkarim Adisa Azeez Bello Summit University Shaaba Lafiagi Lawal Arinola Kudirat Kwara Polytechnic Isiaka Gold Ibrahim Issa Jetti Bayo Ojo Muazam Nayaya Offa IESA Hussein Oloyede Salaudeen Oyewale Aro Yahaya Trader Moni Albert Ogunsola Tunde Kazeem Ita-Ore Busari Toyin Isiaka Christian Association Of Nigeria Muhammed Aliyu JAAC AbdulGafar Tosho Ahmed Mohammed Rifun Sulaiman Gado Mahe Abdulkadir Shuaib Olarongbe Kumbi Titiloye Jumoke Gafar Muritala Awodun Kehinde Boyede Tunde Saad Fatai Olodo 07039448763 Abdulrazaq Adebayo Idi-Ape Isau Laolu Saraki Apata Ajele Secondary School Kwara Central Wahab Abayawo Universal Basic Education Commission Turaki Of Ilorin Orisa Bridge Press Release March 28 Bolaji Gambari

