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.
Funmilayo Braithwaite Umar Ahmed Gunu Senate President Baboko Kwara Apc Bukola Saraki Emmanuel Olatunji Adesoye Saduki Lafiagi Amule Sadiq Buhari Gani Saadu Olatunji Bamgbola Dar-Al-Handasah Consultants Ltd Saka Onimago Taofik Abdulkareem Gbenga Adebayo Bello John Olanrewaju Oloriegbe Abdulwasiu Bolaji Adeyi Ajayi Okasanmi Moro Kwara Muslim Pilgrims Welfare Board Tafida Of Kaiama Sa\'ad Alanamu Pilgrims Board Moji Makanjuola Isiaka Abdulrazak Abdulahi Abubakar Bata Bisi Kristien Special Agro-industrial Processing Zone Oke-Oyi Rasheed Jimoh Edu Abdulkadir Akanbi-Oke Dan Masanin Ashiru Pategi Ojuekun Vasolar Consortium Oladimeji Thompson Ambassador Kayode Laro Durbar Saka Keji Raji AbdulRasaq Susan Modupe Oluwole Lawan Moses Adekanye Oba Abu Abdulhakeem Adelaja Amao Shola Odetundun Amuda Musbau Maryam A. Garuba Oke Sunna Yusuf Babatunde Abdulwahab Eruku Olabanji Orilonishe Share/Tsaragi Talaka Parapo Ahmed Ayinla Jimoh Jimoh Akani Amos Sayo Zulu Gambari Issa Memunat Moyosore Salman Alada International Aviation College Obayomi Azeez AbdulQowiy Olododo Ilorin Water Reticulation Lateef Alagbonsi Abdulrasheed Lafia Aisha Ahman-Pategi Olayinka Olaogun Twitter Dogara A.E. Afolabi Odolaye Aremu Ibrahim Bio

