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.
Lateef Ademola Olatunji Just Law Forum Markaz Arabic And Islamic Training Institute, Agege Convocation Ceremonies Student Learning Support Helpline Paul Olawoore Ariyo Bola Tinubu Kazeem Oladepo Sunday Popo-Ola New Naira Notes Amasa Omoniyi M. Ayinla Segun Ogunsola Ilorin Muslim Community Ileloke Kwara State Coalition Of Business And Professional Associations Adamu B. Yaqubu Saka Balikis Kehinde Adijat Adebiyi Abdulganiyu AbdulAzeez Bayo Ajia Atunwa General Tunde Idiagbon International Airport Ilorin Saka Keji Jimoh Akani NITDA Wasiu Onidugbe JMK Construction Company Limited Oyelere Oyinloye IPSAS Bond Ahmed Dankaya Senior Ibrahim Suleiman Alabere Segun Abifarin Yaru IF-K CCEPE Ahmad Belgore Funmi Salau Abdul-Rahoof Bello Ayotunde Emmanuel Alao Curfew National Pilot Folajimi Aleshinloye Olayinka Oladapo Jogunola Umar Yakubu Jaja Special Agro-industrial Processing Zone Muyideen Ajani Bello Abdulmumini AbdulRazaq Gbemi Saraki Frootify Bashirat Bola Bello Bolakale Kawu Agaka Alao Ayotunde Michael Ologundea Kale Belgore Abdulmajeed Wahab Oko-Olowo Lukman Oyebanji Fagbemi Dauda Adesola Adisa Logun Rotimi Samuel Olujide Afolabi-Oshatimehin Adenike Harriet Esinniobiwa Quareeb Abdulmalik Bashir Mopelola Risikatullahi Dairo Kunle Paul Zara Umar Olukotun Of Ikotun Sabi Hakeem Lawal Hassan Taiye Salam Yahaya Dumoye Arik Garba Ado Sanni Saheed Alakoso

