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.
Ayodele Shittu Saka Balikis Kehinde A.E. Afolabi Egbewole Bola Shagaya Kwabes Isau Baba Idris 20 Billion Bond Cassava Growers\' Association Elerinjare Nigeria Governors\' Forum Umar Ayinla Saro Aminat Ahmed Yekini Adio Mashood Dauda National Broadcasting Commission TIIDELab Tsaragi-Share Saad Omo\'ya Edret Sabi Abel Quareeb Islamic Association Alagbado Dan Iya Of Ilorin Gbugbu International Market Titus Ashaolu Quareeb Amos Sayo Oke-Oyi Lawan Seun Bolaji Oluranti Idowu Abdulmalik Bashir Mopelola Risikatullahi Bibire Ajape Tunji Olawuyi Sulu Babaita Isiaka Muyiwa Oladipo Kanu Bashir Adigun Face Masks The Herald Monthly Sanitation Exercise Adewuyi Funmilayo Abdulrazaq Adebayo Universal Basic Education Commission Kwara Central Ramat Oganija Mohammed Danjuma Dankaka Funmilayo Zubair Elekoyangan Aishatu Ahmed Gobir Abdulganiyu Salahudeen Ado Ibrahim Kamoru Kadiri Sanitation Exercise Oladipo Akanmu Tolani Abdulahi Abubakar Bata Umar Yakubu Jaja Danladi C2c@kwarastate.gov.ng Bayo Ajia Emir Of Kano Saba Mamman Daniel Ilorin Curfew Kayode Yusuf Yomi Ogunsola Kazeem Adekanye Tanke Flyover Bridge Dele Belgore General Tunde Idiagbon International Airport Ilorin Olatunji Abdulmumeen Ahmad Fatima Bisola Olomu Of Omu-Aran Kale Belgore ER-KANG Mining Kwara University Of Education Alaaya

