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.
Yetunde Balogun Amoyo Razaq Ayobami Akanbi Yusuf Olaolu Ali Ishak Mohammed Sabi Bolaji Abdullahi Belgore Dauda Adeniran Adeshola Tunde Kazeem Saad Omo Iya Nurudeen Muhammed Kannike Abdulrahman Iliasu Roheemat Hammed Abdulmumini Jawondo Bolaji Nagode Prince Sunday Fagbemi Harafat E. Mukadam Olaoye B. Felix Zubair Folorunsho Erubu Zulu Gambari Yekeen Alabi Clara Nwachukwu Olubukola Kifayat Adedeji Taofik Abdulkareem Babaita Omupo Haruna Olawale Sulaiman Kwara State Fire Service Vishvas KOZ Tractors 3MTT Odogun Olushola Gabriel Aisha Ahman Pategi Wahab Egbewole Balogun-Ojomu Anilelerin Muhammed Aliyu Ibrahim Sulu Gambari Idris Garuba Ajayi Okasanmi Prince Mahe Abdulkadir Afetu Of Alabe Local Government Pension Board Ojo Fadumila Sango-UITH Road Elerin Of Erin-Ile Hassan Saliu MATTA Girls Foundation Abdulwaheed Musa Oba Mogaji Abdulkadir First Lady Just Law Forum Abdul-Rasheed Na\'Allah Toyin Olayinka Tejidini Eghe Igbinehin Taofeek Sanusi Okin High School Tunde Oyawoye Solomon Edojah Elections Hakeem Idris Ilesha Gwanara Road Samuel Adaramola Osinbajo AbdulRazaq Jiddah Siraj Oyewale Quarry Royal Valley Dunmade Yusuf Zulu-Gambari Musibau Akanji Nigerian Correctional Service Oloje Academic Staff Union Of Universities Alao Ayotunde AbdulHakeem Ajibola Akanbi Oba-Solagberu T And K FOODS Offa Descendants Union

