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.
Gbemisola Saraki Yinka Aluko Saidu Kawu Aliyu Muhammed Salau Kabiru Abdullahi Hassan A. Saliu Orisa Bridge Forgo Battery Company Limited Yakubu Dogara Adedayo Yusuf Abdulkareem AIT Ilorin Deji Ajani Aso Ofi Abdulhakeem Adelaja Amao Samuel Olusegun Adedayo Femi Gbajabiamila Ishola Moses Abiodun Oke-Ode Labour Party Yusuf Arowosaye Okala Baba Muhammad Fawaz Abubakar Dapo Teni Nig Enterprise Shehu Alimi Foundation For Peace And Development Gbugbu International Market Ibraheem Adeola Katibi Nigeria Association Of Women Journalists Babaloja-General Ramadhan Kwara Liberation Group Oyelere Oyinloye Bola Sagaya Reuben Paraje Convocation Ceremonies Bashir Badawi Radio Kwara MMWG AbdulFatai Adeniyi Dan-Kazeem Olatunde Olukoya Tsado Manman Nigerian Army Arca Santa Lotus Bank Emir Of Shonga Nurudeen Mohammed Yusuf Amuda Gobir Abdulkadir Orire National Party Of Nigeria Abdulkadir Bolakale Sakariyah Nigeria Governors\' Forum Oba Sulaiman Asude Aasiyat Bello Oyedepo Offa Metropolitan Club Garuba Alikinla Shittu Wahab Femi Agbaje Adamu Atta Ibrahim Taiwo Road AbdulKareem Yusuf Danhawa Ilorin Emirate Stakeholders Forum Olabanji Orilonishe Ojo Fadumila National Union Of Road Transport Workers Www.Kwarareports.com Lanre Issa-Onilu Umar Bayo Abdulwahab Mashood Abdulrafiu Agboola Sheikh Ridhwanullah Shaaba Lafiagi KWSIEC Funmilayo Zubair Abdulganiyu Oladosu Yusuf Olaolu Ali Council Of The Wise Alaiye FERMA Olatomiwa Williams Abatemi Usman

