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.
Pakata Taofik Mustapha Okin Malt Pategi Abdullah Janet Amudat Belgore Societe Generale Bank Of Nigeria Ayodele Olaosebikan Afin Descendants Union Of Odo-Owa Halimah Perogi Bola Olukoju Shero Ubandoma Agboola Babatunde Kayode Alabi Baaziki Sulaiman Sa\'adu Salau Asa Michael Nzekwe Emir Of Ilorin Chief Imam Of Offa Oko Ilesha-Baruba-Gwanara Igosun Taofeek Sanusi Yusuf Amuda Aluko Umar Bayo Abdulwahab Ilorin East/South Federal Constituency Sodiya Ijagbo Health Centre Kolawole Bashirat Col. Ibrahim Taiwo Folorunsho Alao Olayinka Olaogun Al-Adaby Shuaibu Yaman Kwara Volleyball Association Monthly Sanitation Exercise Abdulrahman Abdulrazak Moses Rahman Popoola Muhammad Yahya Abubakar Baba Sulaiman Salihu Ajibola Ajia Minister Haruna Tambiri Mohammed Quareeb Olateju Lukman Abdullateef Abdussalam Amusement Park Mukhtar Shagaya Kwara TV Funmilayo Mohammed National Information Technology Development Agency Onilorin Of Ilorin Dauda Adesola Kwabes Photo News Saad Omo\'ya Rafiu Ibrahim Saadu Yusuf Playing Host Oniyangi Mazars Consulting Kwara State Branch Of The National Library Sobi Hill IF-K Toyin Falola Gobirawa Gbenga Olawepo Stephen Fasakin Awili Pedro Sidikat Uthman Ajibola HYPPADEC Adamu Attah Akanbi-Oke Yusuf Abdulraheem Kwara

