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.
EndSARS Coronavirus Osinbajo Gbugbu Abdulkadri Ahmad Alaiye KWASSIP Aisha Abodunrin Ibrahim Oyin-Zubair Goodluck Jonathan John Dara Onilorin Oba Abdulraheem Lafia Aliyu Korasabi Deji Ajani Oniye Moro Moshood Mustapha Kamaldeen Ajibade KWASAA Adamu Atta Hamidat Sulyman-Yusuf Salihu Ajia Oluronke Adeyemi Samuel Olusegun Adedayo Mohammed Jimoh Faworaja Oro Grammar School Old Students Association Yakubu Dogara Bank Of Industry IHS Towers Bello Taoheed Abubakar Marufat Oladosu Femi Agbaje Chief Imam Of Ilorin Joshua Adeyemi Adimula Emir Of Kano Kwara State Infrastructure Development Fund Hydroelectric Power Producing Areas Development Commission Summit University Amusement Park Ramadhan Wahab Issa Ajuloopin Kwara Primary Health Care Development Agency Vasolar Valsolar-Kwara Company Limited African Democratic Congress Royal FM Mashood Dauda Oyun Ahmad Belgore Sambo Murtala Simeon Sule Ajibola Fatai Garuba Labaka Alfa Modibbo Belgore Umar Adelodun Abdulkadir Orire Magaji Are Ahmed Dankaya John Olobayo Mahfouz Adedimeji Abegunde Goke Yusuf Olaolu Ali Damilola Yusuf Suleiman Yahya Alapansapa Yahaya Abdulkareem Babaita Allocation Abdulrahman Onikijipa Ahmed Mohammed Rifun Okedare Adedayo Yusuf Abdulkareem Olatunji Abdulmumeen Halidu Danbaba Ahmed Bolaji Nagode Adebara Saheed Akinwumi Samari Kola Bukoye

