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.
Tsaragi Razak Atunwa Olusola Saraki International Vocational Centre Oya State Y.A. Abdulkareem Erin-ile Ajase-Ipo Senior Staff Union Of Colleges Of Education Sarafadeen Kayode Akorede Apado Diagnostic Centre Abioye Bello Suraj Tunji Oyewale Saka Asiat Ayinke Omotoso LABTOP Katibi Ibraheem Adeola Issa Baba Ahmad Belgore Nurudeen Muhammed Lanre Olosunde Femtech Valsolar Consultoria ASMAU PLAZA John Olajide Adedipe Abdulrahman Abdulrasak Ajeigbe KWAFFA Idris Garba Tricycle Owners Association Of Nigeria Arik Falokun-Oja Lukman Adeloyin Principal Private Secretary Olomu Of Omu-Aran Amina El-Imam Bluenile Associates Oyedepo Vishvas KOZ Tractors Photo News Yusuf Babatunde Abdulwahab JAAC Clement Yomi Adeboye Federal Polytechnic Offa Maryam Ado Bayero Victor Gbenga Yusuf Hamid Bobboyi Emmanuel Bello Idi-Ape Egbewole Yakubu Mohammed Abdullahi Esinniobiwa Quareeb Valsolar All Confederation Of Principals Of Secondary Schools Maigida Taofeeq Olateju National Association Of Nigerian Students Omoniyi M. Ayinla Olupako Muslim Cementary Okin Malt Binta Sulyman KWTV Kolade Solagberu Ilofa Ilorin Airport Olusin Of Ijara Isin Abdulazeez Arowona Riskat Opakunle Gabriel Fashanu REO CAKES David Oyepinola Adedumoye Yaru Mashood Dauda Olaiya Lawal Ope Saraki

