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.

Sanusi Abubakar     High Court     Rotimi Samuel Olujide     Seni Saraki     Doyin Group     Nurudeen Muhammed     Ayodele Olaosebikan     AbdulGafar Tosho     Ibrahim Abiodun     Offa Metropolitan Club     First Lady     Sherif Shagaya     Adeola Abraham     Olokoba     Tafida Of Kaiama     Tunji Oyawoye     Sun Qing Rong     Issa Manzuma     Ethical College     Halidu Danbaba     Kaosarah Adeyi     Offa Poly     Oke-Kura     Abdulbaqi Jimoh     International Aviation College     Borgu     Mansurat Amuda-Kannike     Sulyman Abdulkareem     Bibire Ajape     Share     Ahmed Idris Mohammed     2023 Elections     Curfew     Kale Kawu     CELF     Ophthalmological Society Of Nigeria     Tafida Of Ilorin     Okanlawon Musa     Alliance For Democracy     Abdulkadir Akanbi-Oke     Imodoye Writer’s Enclave     Quareeb Islamic Association     Rex Olawoye     VADA     Moshood Kashimawo Abiola     Idris Amosa Saidu     Sobi FM     Tunji Arosanyin     Abraysports FC     Olatinwo     S.O. Opowoye     Ibrahim Akaje     Kumbi Titiloye     Okin Group     Hamid Bobboyi     COVID     Majlis For Sadaqah, Zakat And Waqf     Kunle Suleiman     Razak Atunwa     Danladi     KFA     Taofeek Ibraheem     General Hospital, Offa     Hassan Taiye Salam     Tescom.kwarastate.gov.ng     Teachers Specific Allowance     Surajudeen Akanbi     Third Estate     Sadiq Buhari     Esuwoye     Kwara State Internal Revenue Service     Roseline Oni Aremu     Khairat Gwadabe     Donatus Ejidike     Maryam A. Garuba     Elewu     Onilorin    

Cloud Tag: What's trending

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

Mubarak Oladosu     Bello Bature     Police Commissioner     Ben Duntoye     Olupako Of Share     Tanke Road     Sheriff Shagaya     Ganiyu Abolarin     Ajikobi     Babatunde Ajeigbe     Abdulkadir Jimoh     Atiku     Ado Bayero     Bayo Mohammed Onimode     HAMFAT Clinic And Maternity     20 Billion Bond     Abdulwaheed Musa     Special Agro-industrial Processing Zone     Agboola Babatunde     Abdulmajeed Abdullahi     Kwarareports     Abubakar Lah     Kolo     JAAC     Earlyon Technologies     Buari Edun     Abiodun Abdulkareem     Kunbi Titiloye     PharmAccess Foundation     Shehu Raheem Adaramaja     Aiyedun     Simeon Sule Ajibola     Susan Modupe Oluwole     Akanbi-Oke     Ayotunde Emmanuel Alao     Ahmed \'Lateef     Sheikh Ridhwanullah El-ilory     Saka Abimbola Isau     Alfa Modibo Belgore     Ajibola Saliu Ajia     Ilorin Central Mosque     Samuel Adaramola     Deji Ajani     Summit University     Owu Fall     Sheriff Olanrewaju     Facemasks     Ayobami Seriki     General Hospital, Offa     UTME     Saliu Tunde Bello     Okasanmi Ajayi     Abdulsalam Firdaous Amosa     Wahab Egbewole     Olabimpe Olani     Zara Umar     Muslim Cementary     IHS Towers     Rotimi Oyedepo     Kwara State Fish Farmers Association     Niyi Ogundiran     Tayo Alao     Odolaye Aremu     GANZY     Yekini Adio     Nigerian Supreme Council For Islamic Affairs     Abdulrazaq Adebayo     Kisira     Talaka Parapo     Issa Manzuma     Adedayo Yusuf Abdulkareem     Sulyman Tejidini     AbdulGafar Tosho     SSA Youth Engagement     Rasheed Jimoh     Jawondo     Hakeem Lawal