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.
National Association Of Nigerian Students Iyabo Adisa Ibiyeye Sheikh Alimi George Innih Amos Sayo Alliance For Democracy Joana Nnazua Kolo Centre For Digital Economy Oke-Ero Omoniyi M. Ayinla Isiaka Gold Olusegun Adeniyi Ayedun Isa Aremu Abdullahi Biffo Abubakar Suleiman Soffiyyallah Kamaldeen Yakubu Dogara Muhammed Akanbi Saka Abimbola Isau Abraysports FC Sanusi Abubakar Adesoye Eruku Towobola Abdulrahman Toyin Oasis Muslim Care Foundation Sobi Specialist Hospital Wale Oladepo Olubukola Kifayat Adedeji Computer Based Test Olokoba Abdullahi Ayinla Azeez Bello Ibrahim Sulu Gambari Garba Ado Sanni TVC Female National Debate Iyabo Adewuyi Kwarareports Turaki Of Ilorin Ishaq Salman Marufat Oladosu Victor Gbenga Yusuf Jaiz Bank Moses Salami Taibat Ayinke Ahmed Amoyo Hauwa Nuru Fatai Garuba Labaka Demola Banu Kwara Kumbi Titiloye Monkey Pox Babatunde Ajeigbe Alimi Shuaib Boni Aliyu Ishola Balogun Fulani Ibrahim Oloriegbe Kwara NIPR Kwara State Printing And Publishing Corporation Taofik Abdulkareem Code Of Conduct Tribunal Olaiya Victor Mobolaji Hydro-electric Power Producing Areas Development Commission Saka Keji Sidikat Akaje Abdulganiyu Salahudeen Mansur Alfanla Bola Magaji Yakubu Gobir Sa\'adu Salahu Kayode Issa Kamaldeen Gambari Tafida Of Kaiama Ajibola Ademola Julius Dumagi Vasolar-Kwara Company Ltd Seun Bolaji Abdulrazaq Aiyelabegan

