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.

Sunday Popo-Ola     Adebayo Mohammed Kamaldeen     Raliat Islamic Foundation     Umar Ahmed Gunu     Bureau Of Lands     TESCOM     National Party Of Nigeria     Labour Party     Odogun Olushola Gabriel     Risikat Lawal     Samuel Olusegun Adedayo     YAKOOYO     Fatimah Abdulkadir     Tanke Flyover Bridge     Albert Ogunsola     Olatunji Ibrahim     Suraj Tunji Oyewale     Lukman Adeloyin     Saadu Yusuf     John Olajide Adedipe     Mashood Dauda     Sherif Sagaya     Bello Oyedepo     Shuaib Abdulkadir     Adanla-Irese     Ibraheem Abdullateef     Saka Isau     Abubakar Suleiman     Abdulkadir Orire     Charles Ibitoye     Baba Isale     Ita-Ore     Bello Bature     Aro Yahaya     Local Government Pension Board     Bolakale Kawu     Oju Ekun Sarumi     Eleja Taiwo Banu     Haliru Dantoro     IESA     Falokun-Oja     Hassan Taiye Salam     Oasis Muslim Care Foundation     11th Galadima     Kayode Alabi     Government House     NITDA     Femtech     Kamaldeen Ajibade     Arinola Lawal     Balikis Jawondo     JUSUN     Abdulkareem Alabi     Sa\'ad Alanamu     Bibire Ajape     George Funsho Adebayo     Afolabi-Oshatimehin     Twitter     Amuda Musbau     Tinubu Legacy Forum     Kwara Basketball Association     Shonga     Lanre Issa Onilu     Bayer AG     Adisa Logun     NIPOGA     Sardauna Of Ilorin     Ophthalmological Society Of Nigeria     General Tunde Idiagbon International Airport Ilorin     Alfa Modibo Belgore     IHS Towers     Mohammed Danjuma     Moshood Kashimawo Abiola     Isaac Gbenle     Road Transport Employers Association Of Nigeria     Ita-Nmo Market     NFAI    

Cloud Tag: What's trending

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

Post Utme     Funmilayo Braithwaite     March 28     Najim Yaasin     Nigeria Association Of Women Journalists     Aminu Adisa Logun     Ahmad Lawan     Jalala     Mahmud Durosinlohun Atiku     Kisra     TETFUND     Ganmo     Olaitan Adefila     Ibrahim Agboola Gambari     Femi Ogunsola     Olusola Saraki     Lai Mohammed     Ilesha Gwanara Road     Eleyele     Cassava Growers\' Association     Adamu Ibrahim Sabi     All Peoples Party     Omar Gambari     Ubandoma Of Ilorin     Omu-aran     Abdulmajeed Abdullahi     Leke Ogungbe     Olabode George Towoju     Durosinlohun Kawu     Kwara 2023     Haliru Yahaya     Ajikobi     Gabriel Fashanu     Kwara State Government     Ile Arugbo     Aishatu Ahmed Gobir     Tosin Saraki     Dorcas Afeniforo     Abdulrahman Abdulrasak     Societe Generale Bank Of Nigeria     Taofeeq Olateju     Ilorin     Yakubu Shaaba     Yakub Ali-Agan     Abdulfatai Ahmed     Shehu Alimi Foundation For Peace And Development     Abubakar Abdulraheem     Kwara Basketball Association     Damilola Yusuf Adelodun     NURTW     Salau Kabiru Abdullahi     Ishaq Oloyede     MATTA Girls Foundation     Sheriff Olanrewaju     Kisira     Photo News     Mufutau Olatinwo     Christopher Odetunde     Abdulrazaq Akorede     Oluwole Dupe     Christopher Tunji Ayeni     Al-Ilory     Binta Sulyman     Otoge     Sai Kayi     Hassan Taiye Salam     Ilorin West/Asa Federal Constituency     Edu     Bola Sagaya     TIC     Oba Abdulkadir La\'aro     Tafida Of Kaiama     Okin Malt     Ahmad Olanrewaju Belgore     Ayegbeni     Taiwo Joseph     Tsaragi/Share