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.
Issa Oloruntogun Magaji Erubu Mohammed Saidu Kwara South Oniwa Abdullahi G. Mohammad Kwara Muslim Pilgrims Welfare Board Ganmo Power Sub-Station Ahmed Biliaminu Aliu Road Transport Employers Association Of Nigeria Sodiya Mohammed Haruna Ajase-Ipo Earlyon Technologies John Kehinde Salako Afolabi-Oshatimehin Sadiq Buhari Solomon Edojah Omotoso Musa Abubakar Imam Timothy Akangbe Ijakadi Moremi High School Ben Duntoye Awili Pedro Hassanat Bello Kayode Ogunlowo Government High School (GHS), Adeta Iliasu Kwara Metro Park 07039448763 Saka Isau Gbenga Adebayo Abubakar Aliagan Ali Ahmad Adedayo Yusuf Abdulkareem Overland Oba Abdulraheem Abdulwahab Oba Funmilayo Isiaka Oniwa Ilorin West/Asa Federal Constituency AbdulHamid Adi Donatus Ejidike Baba-Isale Valsolar Ayinde Oyepitan Village Alive Development Association Iyabo Dupe Adekeye Baboko Mohammed Abduraheem Muhammed Akanbi Chief Imam Of Ilorin Bamidele Adegoke Oladimeji Volunteers Of Ilorin Community And The Emirate Osinbajo Yusuf A. Usman Vishvas KOZ Tractors Garba Ayodele Wahab Abdullahi Dasilva Yussuf Abdulrahman Abdulrazak Garba Dogo Benin Republic C2c@kwarastate.gov.ng Ariyo Folorunsho Alao KWACOBPA Theophilus Oyebiyi Wakilin Mata Lafiagi Abdulganiyu Salahudeen Muritala Awodun Aremu Bose Deborah Dan-Kazeem Lafiagi Kwara State Television (KWTV) Economic And Financial Crimes Commission Simeon Ajibola

