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.
Moshood Mustapha Amuda Musbau Raliat Islamic Foundation Muyideen Ajani Bello Aliyu Kora-Sabi Katibi Ibraheem Adeola Joseph Daudu Aisha Ahman Pategi Alloy Chukwuemeka Jelili Yusuf Abdulrauf Aliyu Abdullahi G. Mohammad Noah Yusuf Mustapha AbdulGaniyu Sam Onile Ahmad Ali Oya State Sadiq Umar ER-KANG Mining Nigeria Company Limited Arca Santa Risikat Lawal Peter Obi Salake Offa Poly National Pilot Pakata Development Association Hydroelectric Power Producing Areas Development Commission Clement Yomi Adeboye Shaykh Luqman Jimoh Nigerian Medical Association Henry Olaosebikan Voices Of Tomorrow Millennium Development Goals VADA Minister Mohammed Saidu Eleyele Matthew Babaoye Olayinka Oladapo Jogunola Rotimi Atere Ajibike Katibi Is\'haq Modibbo Kawu Abdulganiyu AbdulAzeez Baboko Primary School RTEAN Eleja Ike Ekweremadu Shaaba Lafiagi Bareke Kwara Polytechnic Tescom.kwarastate.gov.ng Olusola Saraki Abdulraheem Olesin Christopher Odetunde Code Of Conduct Bureau Laboratory-to-Product Salihu Ajibola Ajia IESA Hussein Olokooba Shuaib Boni Aliyu Yusuf AbdulRasheed Ajeigbe Yahaya Seriki Moses Adekanye Idi-Ape Pacify Labs Tunde Mukaila Mustapha UNILORIN Alumni Association Sulaiman Gado Halimat Yusuf Riskat Opakunle AbdulFatai Adeniyi Dan-Kazeem Folorunsho Alao Orisa Bridge Isiaq Khadeejah New Nigeria People’s Party Hauwa Nuru

