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.
Smart School JAAC Bashirat Bola Bello Imodoye Writer’s Enclave Bayo Lawal Olusola Saraki Ella Supreme Tissue Paper Oke-Ode Mustapha Olanipekun Third Estate AbdulHamid Adi Adaramaja Abdulkadir Orire Government High School Adeta Galadiman Ngeri JUSUN Chief Imam Of Omu-Aran Toyin Abdullahi Balogun Gambari Raimi Iyanda Suwa-Arabs Bola Ahmed Tinubu Umar Yakubu Jaja Adedayo Yusuf Abdulkareem Kawu SSA Youth Engagement Valsolar Consultoria Oba Abu Buhari Kwara Metro Park Moses Salami Awoye Prince Mahe Abdulkadir Lawyers Unite Against Corruption Ahmad Fatima Bisola Cornelius Adebayo Saidu Kawu KWASIEC Sabi Mohammed Yisa Ilesha-Gwanara Iliasu Yakubu Gobir Adisa Logun Odogun Olushola Gabriel Erubu Yetunde Balogun Nigeria Association Of Women Journalists Aliyu Muhammed Oladimeji Thompson Women For Change And Development Initiative Ayinke Saka Sarkin Malamai Kuliyan Geri Kwara South Saliu Alamoyo Babajide Ajayi Sarafadeen Kayode Akorede James Ayeni Nigeria Customs Service Tinubu Kwasu Halimah Perogi Edret Sabi Abel Asa SAPZ Project Saliu Ajibola Ajia AbdulRaheem Ahmad Shayi Baaziki Sulaiman Gbajabiamila Damilola Yusuf Adelodun Bello Oyebanji Abdulrasheed Akogun Peculiar Allowance Salihu S. Yaru Matthew Babaoye Rafiu Olasile

