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.
Haliru Yahaya Gbugbu International Market Abdulquawiy Olododo Yakubu Mohammed Abdullahi ER-KANG Gbemi Saraki Mahmud Ayinla Giwa Oyedepo Ganmo National Party Of Nigeria Nigerian Supreme Council For Islamic Affairs Abdulrahman Abdulrazaq Imam Gambari Eghe Igbinehin Bolakale Ayo Hikmah AbdulKareem Jebba Abatemi Usman Freshvine Nigeria Limited AbdulFatai Adeniyi Dan-Kazeem Shonga A.O. Belgore Jani Ibrahim Kwara 2015 ASKOMP CKNG Students Union Government John Olobayo Afolasade Opeyemi Kemi Gabriel Fashanu Issa Memunat Moyosore Sheikh Alimi Ashiru NIPOGA Umar Adelodun Magaji Nda Yakubu Dogara Dogara Afonja Gobir Organization Foundation Aso-ofi Abdulrahman Iliasu Sulaiman Gado Jelili Yusuf Obuh Olupako Of Share Mutawali Of Ilorin KWAFFA Mubarak Oladosu Abdulrazaq Adebayo Ebun-Olu Adegboruwa Ghali Alaaya Boko Haram Nupe Suwa-Arabs Labaeka JAMB Baba Isale Aliyu Adebayo Balogin Alanamu Baba Adini Of Kwara State Saudat Abdulbaqi Yahaya Seriki Afolabi-Oshatimehin Adenike Harriet Yusuf Ibitokun Sherifat Adebayo Salami Atiku CACOVID Palliatives Unilorin Ramat Oganija Orisun Igbomina Ajibike Katibi Kwara State Health Insurance Agency Isiaq Khadeejah Saka Onimago Toyin Sanusi Amasa

