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.
Federal Neuro-Psychiatric Hospital Omotoso Musa Magaji Are Bank Of Industry IYA ALFA NLA Joshua Adeyemi Adimula Amusa Bello Olanrewju Okanlawon Musa Law School Scholarship Kwara State Fire Service Yahaya Dumoye Iponrin Awili Pedro Nigeria Governors\' Forum Demola Banu Yakubu Gobir LEAH Charity Foundation Abdulkareem Alabi Oniyangi Kunle Sulaiman BIR Kwasu Ayobami Akanbi Kulende Abegunde Goke Suleiman Rotimi Iliasu KWACOBPA Offorjama Eleja Taiwo Banu Abdulrasheed Na\'Allah Sam Okaula Fatimat Saliu UTME Tuesday Assayomo Haliru Dantoro Idris Garuba Hassan A. Saliu Halimah Perogi Marufat Oladosu Offa Metropolitan Club State Bureau Of Internal Revenue TETFUND Muideen Olaniyi Alalade Sambo Murtala Curfew Lanre Jimoh Funmilayo Isiaka Oniwa Yahaya Muhammad Bello Taoheed Abubakar Moshood Kashimawo Abiola Olokoba JMK Construction Company Limited Alumni Association Of The Federal Polytechnic Offa Computer Based Test Shoprite Yahaya A Paniyaro Mutawali KwaraLearn Sunset Workers Tunde Saad Ganiyu Abolarin Timothy Olatunde Fadipe Yusuf Lawal Mahmud Ajeigbe 08001000100 Baba Issa Awoye Aishat Mohammed Lawal Ilorin Emirate Centre For Digital Economy LABTOP Oke-Ode Alaaya Musa Alhassan Buge Amada Jidda Kwara State Council Of Chiefs Oko-Erin Oloruntoyosi Thomas Volunteers Of Ilorin Community And The Emirate

