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.
Clement Yomi Adeboye Ridwan Agboola Doyin Awoyale Wahab Abayawo Oya State National Broadcasting Commission Saadu Yusuf Ishola Moses Abiodun Ilorin General Hospital Adesoye Yakubu Danladi Sobi Lafiagi Just Event Online Abdulraheem Olesin Sa\'adu Salahu Jimba Babatunde Ejidongari Shonga Saduki Lafiagi Igosun Hijab Olomu Sulaiman Gado Women Radio Abdulrazaq Sanni Crystal Corner Shops Yusuf Aiyedun Moremi High School Babs Iwarere Ilorin East Opolo Global Innovation Limited Gafaru Olayiwola Olorisade Sango-UITH Road Sidikat Alaya Oba Abdulraheem Shettima Isiaka Danmeromu Sardauna Of Ilorin Alfa Belgore Rotimi Atere Kwara State University Of Education Oko Ilorin Talaka Parapo (ITP) 2017 Budget Abdulrahman Iliasu Abdulmalik Bashir Mopelola Risikatullahi Abiodun Abdulkareem AbdulRauf Keji Kwara State Internal Revenue Service Al-Adaby Ghali Muhammed Kwara 2019 Afin Descendants Union Of Odo-Owa Mohammed Lawal Okin Biscuit Abdulrauf Yusuf EFCC Moji Makanjuola Kaiama Saheed Popoola SDP Oniwa Yusuf Abubakar Shagari Wasiu Onidugbe Oro Grammar School Abubakar Atiku Police Commissioner Valsolar-Kwara Company Limited Abdulmajeed Abdullahi Simon Sayomi Akorede Aliyu Kora-Sabi HAMFAT Clinic And Maternity Lukman Oyebanji Fagbemi Obuh

