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.
Transition Implementation Committee Orisa Bridge Oro Grammar School Old Students Association Bolaji Aladie Malete Issa Baba Mahmud Babatunde Baker Kehinde Boyede Damilola Yusuf Adelodun Ado Ibrahim Prince Bola Ajibola Timothy Olatunde Fadipe Sayomi Dairo Kunle Paul National Association Of Nigerian Students KWASIEC Hussein Olokooba Saheed Akinwumi Shehu Jimoh Mohammed Ghali Alaaya Isaac Aderemi Kolawole Police Commissioner Abdulkareem Alabi Isiaka Oniwa Abdulrazaq Magaji Mansur Alfanla March 28 Gabriel Fashanu Presidential Election Ibrahim Abduquadri Abikan Bond Elese Of Igbaja Computer Based Test Abdulrazak Shehu Akorede Elewu Dasuki Belgore Olokoba Sulyman Alapansapa Government High School (GHS), Adeta Smart School Bello Abubakar Kwara State Sports Commission Lawan Amina El-Imam Bukola Ajikobi Agor Akande Idowu Ayoola Muhammed Ramadan Abdulraheem Yusuf Javed Khan Abioye Bello Eleja Markaz Arabic And Islamic Training Institute, Agege Isau Ahman Pategi Balogun-Ojomu Vasolar Consultoria Peculiar Allowance Balikis Jawondo Oke-Ogun College Of Education Abdulazeez Arowona Isiaka Abdulrazak Shade Omoniyi Federal Polytechnic Offa Gbenga Adebayo Alikinla 2023 Elections GRA Ilorin West/Asa Federal Constituency SUBEB Kwara 2015 Binta Abubakar-Mora Ilorin Emirate Ambassador Kayode Laro Moses Salami Salary

