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.
Olubukola Kifayat Adedeji Twitter Basic Education Certificate Examination Abdulbaqi Jimoh Abioye Bello Ekweremadu Michael Nzwekwe Ilorin Muslim Community Damilola Yusuf Sola Saraki Educational Foundation 11th Galadima Abdulmumini Sanni Jawondo Babatunde Idiagbon Abdulrasheed Akogun Afusat Nike Ibrahim Saka Onimago Abdulmumini Jawondo Abdulfatai Baakini John Obuh Balikis Jawondo Olateju Lukman Sheikh Hamzat Yusuf Ariyibi Jalala Innocent Okoye SWAN Umar Ahmed Gunu Kisra Metro Park Mohammed Alabi Lawal Bayo Lawal Muritala Awodun Abdulquawiy Olododo Ayedun Garment Factory Rebecca Olanrewaju Olanrewju Okanlawon Musa Unilorin FM Rebecca Bake Dogara Durbar NULGE MINILS IYA ALFA NLA Oba Sulaiman Asude Tsaragi Kale Bayero Rihanat Ajia Ayoade Akinnibosun Aliyu Kora-Sabi Sarah Jubril Mahmud Ajeigbe Kola Olota Waheed Ibrahim International Aviation College Ishola Abdullahi Aliyu Sabi Shuaib Jawondo New Naira Notes Quarry Royal Valley Yoonus Lawal Kwara Pdp Olayinka Olaogun Mohammed Abduraheem Salake Jumoke Monsura Gafar Nagode Oniyangi Kunle Sulaiman Afonja Kayode Bankole Yusuf Lawal Convocation Ceremonies Law School Scholarship Sam Okaula Kubra Kazum Elewu Adedipe Demola Banu

