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.
Amuda Musbau Saba Jibril Musa Abdullahi Abdulganiyu Oladosu Alanamu Bolakale Ayo Arandun Kwara Consultative Forum Oladimeji Thompson Busari Alabi Alausa Kolo Ishaq Salman Kola Ologbondiyan Ebola TETFUND Baaziki Sulaiman Isiaq Khadeejah Hassan A. Saliu Alapansapa Pakata Patriots Idowu Laro Gambari JAAC Jumoke Monsura Gafar Abdulwaheed Musa Rasheed Jimoh Dogara Garment Factory IFK Sa\'adatu Modibbo-Kawu Umar Ayinla Saro Ilorin Amusement Park Ministry Of Women Affairs And Social Development N-Power Kayode Ibrahim Yomi Adeboye Abdulrasheed Na\'Allah Abdulrahman Abdulrasak Emir Of Shonga Saadu Alanamu Adebayo Salami Split Diamond Interchange Roheemat Hammed Kulende-UITH Isiaka Yusuf Sobi Ilorin Talaka Parapo (ITP) Sabitiyu Grillo Valsolar Makama Of Kaiama Gaa Olobi Galland Marcias Saad Omo Iya Obuh Eleyele Emmanuel Bello Alaiye Sunday Fagbemi Kayode Zubair Harafat E. Mukadam Olabimpe Olani Gobir Saidu Isa Emir Of Kano Ishaq Oloyede Oloyede Plat Technologies Limited Ibikunle Ogunleye Saba Mamman Daniel Ahmed Bayero Raymond Olaitan Oke-Ero Toun Okewale-Sonaiya Tunji Folami Abdullahi Atanda Kpotum Mohammed Baba Anilelerin

