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.
Face Masks Aiyedun Ubandoma Hassanat Bello Siddiq Adebayo Idowu Salawu Federal Neuro-Psychiatric Hospital Abdul Jimoh Mohammed Mohammed Lawal Bagega NYSC James Ayeni Mopelola Abdulmaliq-Bashir Michael Nzekwe Musa Yeketi Lai Mohammed Umar Saro AbdulRazaq Abubakar Jiddah Government High School Adeta Senior Special Assistant On Student Affairs Osinbajo Abubakar Bature Sulu-Gambari SSA Youth Engagement Ezekiel Yissa Benjamin QuickWin Adanla-Irese Haashim Initiative For Community Advancement Kamaldeen Kehinde Okin Biscuits Kwara-SAPZ Project Kwara Politics Musibau Akanji Earlyon Technologies Simon Sayomi Federal College Of Education (Special), Afon Age AbdulKareem Maigida Hakeem Idris Jumoke Gafar Olufolake Abdulrazaq A.E. Afolabi Government House AbdulRaheem Ahmad Shayi Bolakale Kawu Agaka Convocation Ceremonies Democracy Day Iyaloja-General Woro Basit Olatunji Okin High School All Confederation Of Principals Of Secondary Schools Majlis For Sadaqah, Zakat And Waqf Oke-opin Olatunde Oyeyiola General Tunde Idiagbon International Airport Ilorin Oba Abdulrahim Rabiu Kwankwaso Obayomi Azeez Babs Iwarere Ali Ahmad Shehu Alimi Foundation For Peace And Development Taofik Abiodun Ahmed Yemi Osinbajo Razaq Ayobami Akanbi Dumagi Bond Playing Host Oniwa Saheed Akinwumi Ibrahim Oloriegbe Ajeigbe Ileloke Gbenga Olawepo Al-Adaby Aishatu Ahmed Gobir Niyi Ogundiran Budo-Egba LABTOP Amasa

