POS Operators in Ilorin Struggle to Source Cash Amid Statewide Crunch

Date: 2024-12-10

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.

Kamaldeen Ajibade     Folorunsho Alao     Babaita     Buhari     Matthew Babaoye     Abdullahi G. Mohammad     Moshood Kashimawo Abiola     Sa\'adu Salahu     Cornelius Fawenu     Raji Ayodele Kamaldeen     Ibrahim Mashood     Gbugbu     Abdulwahab Ololele     Tunde Idiagbon Road     Olokoba Abdullahi Ayinla     Gbemi Saraki     Olupako     NIPOGA     Oyeyemi Olasumbo Florence     Jide Ashonibare     Salami Adekunle     TETFUND     Hassan Abdulazeez Elewu     Kayode Oyin-Zubair     Gwanara     SSUCOEN     Niyi Ogundiran     Kolawole Bashirat     Umar Ayinla Saro     Saidu Isa     Sarah Jubril     Emir Of Lafiagi     Aliyu U. Tilde     Olaoye B. Felix     Busari Toyin Isiaka     Yusuf Lawal     Bola Iyabo Ibiyeye Adisa     Abdullahi Biffo     Abdulmumini AbdulRazaq     Erin-ile     Oyin-Zubair     Ibrahim Abduquadri Abikan     Osinbajo     Borgu     Alabere     Saka Aleshinloye     Ahmed Bolaji Nagode     Adama Isa     Split Diamond Interchange     Abdulbaqi Jimoh     Kwara State Polytechnic     Olufolake Abdulrazaq     Aremu Bose Deborah     Air Peace     Ahmad Uthman     Aisha Buhari     Agboola Abdulraheem     Usman Yunusa     Adedayo Yusuf Abdulkareem     Alfa Modibbo Belgore     Orire     Esinniobiwa Quareeb     Oko-Erin     Olabanji Orilonishe     Logun     Ilorin Descendants Progressive Union     ANCOPPS     Ayodele Shittu     Baboko Primary School     AbdulRahman Saad     Temi Kolawole     Yahaya Seriki     LAK Jimoh     Elections     Ayeyemi Sulaiman     CT Ayeni     Arandun    

Cloud Tag: What's trending

Click on a word/phrase to read more about it.

Suleiman Mora Omar     Mansur Alfanla     Isiaka Oniwa     Stephen Fasakin     Rex Olawoye     Abubakar Atiku     Femi Oladiji     Toyin Falola     Law School Scholarship     Muyideen Ajani Bello     Lafia Aliyu Korasabi     Okin Biscuit     Senate Presidency     NULGE     Radio SBS     Bola Tinubu     Taofik Abiodun Ahmed     HYPPADEC     Valsolar Consultoria     CUTI     Yusuf AbdulRasheed     NNPP     Kawu Baraje     Cornelius Fawenu     Ajikobi     Iyabo Adisa Ibiyeye     Obasanjo     Ganmo Electricity Sub-Station     Shuaib Olarongbe     Abdullahi Imam Abdullahi     Sobi Specialist Hospital     Hakeem Idris     Michael Nzwekwe     Hassan Oyeleke     PPS     Women Radio     Adedipe     Ridwan Agboola     Memunat Monsuma     Dairo Kunle Paul     Halimat Yusuf     Sanitation Exercise     Aisha Ahman Pategi     Haruna Olawale Sulaiman     Ndakene     Okin Biscuits     Salman Suleiman     Dele Belgore     Balogun Fulani     Taofik Mustapha     Alaaya     Iyabo Dupe Adekeye     UTME     National Party Of Nigeria     Adolescent Girls Initiative For Learning And Empowerment     Seed Technologies     Durbar     Wahab Issa     Abdulsalam A. Yusuf     Joseph Yemi Ajayi     Tescom.kwarastate.gov.ng     Shero     Razaq Ayobami Akanbi     Sheriff Olanrewaju     Volunteers Of Ilorin Community And The Emirate     Yaru     ENetSuD     Baakini     Raymond Olaitan     Ope Saraki     Ilofa     Saadatu Modibbo-Kawu     Omoniyi M. Ayinla     Dauda Adeniran Adeshola     Abdulrahman Onikijipa     Mahee Abdulkadir     ITEM 7