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.
Ilorin Muslim Community Ballah Sodiya Yahya Mohammed Olabimpe Olani Suleiman Idris Hydroelectric Power Producing Areas Development Commission Amina Susa\'a De Ahmed Agor Tsaragi Sa\'adatu Modibbo-Kawu Kwara Pdp Durbar Moshood Kashimawo Abiola Mohammed Alabi Lawal Association Of Kwara State Online Media Practitioners Ajike People Support Centre Mohammed Danjuma Shaaba Lafiagi Amuda Musbau AbdulRauf Keji Olaiya Zuberu Salami Adekunle NITDA Hakeem Lawal Sheriff Olanrewaju Talaka Parapo Afin Descendants Union Of Odo-Owa Kwara Muslim Pilgrims Welfare Board Taibat Ayinke Ahmed Ilorin Talaka Parapo (ITP) Pilgrims Board Dan-Kazeem Ilorin Descendants Progressive Union Ayobami Akanbi Baruba Jare Olatundun Wahab Femi Agbaje Mufti Of Ilorin Matthew Okedare N-Power State Bureau Of Internal Revenue Ilorin Emirate Stakeholders Forum Ileloke Inside Kwara Muhammad Ghali Alaaya Muyideen Ajani Bello Yakubu Shaaba Akanbi-Oke Maryam Ado Bayero Nigeria Customs Service Fatimah Abdulkadir Ezekiel Yissa Benjamin Muhammad Fawaz Abubakar Maryam Nurudeen Kwara Poly CCB Iliasu Femi Ogunsola Muslimah Entrepreneurship Forum Abdulrazaq Sanni Oba Sulaiman Asude CKNG Ishaq Salman AbdulQowiy Olododo Igbaja Shehu Alimi Foundation Public Holiday Femtech Ilorin International Airport Jumoke Monsura Gafar Amasa Nigeria Computer Society Bello Oyedepo Arik Government High School (GHS), Adeta Moses Adekanye

