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.
Lafiagi IEDPU Abdullahi Dasilva Yussuf Offa Descendants Union Iyeru Grammar School JUSUN Ahmed Shuaib Buranga Magaji Nda Tunde Mukaila Mustapha Ahmed Bolaji Nagode NITDA Flights To Ilorin Maigida Charles Ibitoye Michael Nzwekwe Academic Staff Union Of Universities Amos Bajeh Bolakale Ayo TETFUND Kwara State Polytechnic Bahago Yunus Lawal Adebara Ogidi-Oloje Yakubu Gobir Ibrahim Gambari Olatunji Ibrahim AbdulGaniyu Kareem Lanre Issa Onilu Babatunde Ajeigbe Kwara State Pension Board Shagari Orisun Igbomina Abubakar Baba Sulaiman Joseph Daudu Jebba Special Adviser On Digital Innovation Ilesha-Baruba-Gwanara Katibi Ibraheem Adeola Oluronke Adeyemi Pilgrims Board Taofik Abdulkareem Wale Oladepo Nigerian Correctional Service Christopher Ayeni Owo Isowo Valsolar Abdullahi Saadudeen Alikinla Idi-Ape Afeyin-Olukuta NIPR Tunji Folami Ilorin Emirate Maimunat Oloriegbe Afonja Descendants Union AbdulHakeem Ajibola Akanbi Al-Ilory Lawan Ishola Balogun Fulani Abdulmumini AbdulRazaq Afonja Logun Moji Makanjuola Omotoso Ado Bayero Obuh Iyabo Adewuyi Countryside Emerging Leaders Fellowship Adanla-Irese Bashir Adigun Ebun-Olu Adegboruwa Agboola Abdulraheem QuickWin Federal Neuro-Psychiatric Hospital Salihu Alhaji Musa Ilorin Curfew Simon Sayomi

