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.

BIR     Abubakar Olusola Saraki     KWTV     Oke-Ogun     AbdulRazaq Abubakar Jiddah     Lucky Omoluwa     Olabanji Orilonishe     AIT Ilorin     State Bureau Of Internal Revenue     Towoju     Olokoba     EndSARS     NSCIA     Trader Moni     CKNG     Ajasse-Ipo     Mohammed Danjuma     QuickWin     Oyedun Juliana Funke     Donatus Ejidike     Baakini     Halimat Yusuf     Yahaya Seriki Gambari     Oba-Solagberu     Kwasu     James Ayeni     Ahmed Bayero     NTA Ilorin     Ilorin West/Asa Federal Constituency     Abdulraheem Olesin     Yusuf Badmus     HYPPADEC     Bamikole Omishore     Elesie Of Esie     Alliance For Democracy     Prince Bola Ajibola     Saba Mamman Daniel     Kaiama     George Innih     Eleja     Kwara NIPR     Abdulrazaq Aiyelabegan     Tosho Yaqub     Sulaiman Gado     Abdulrahman Abdulrasaq     Mahfouz Adedimeji     Habeeb Saidu     Gbemi Saraki     Suleiman Yahya Alapansapa     Jimoh Bashir     Muhammed Aliyu     Yunus Lawal     Mufti Of Ilorin     Oyelere Oyinloye     Principal Private Secretary     Titus Ashaolu     ENetSuD     Nigerian Medical Association     Mohammed Saidu     Galland Marcias     Shuaibu Yaman Abdullahi     Olabode Towoju     Timothy Olatunde Fadipe     Ajibola Saliu Ajia     Ethical College     TESCOM     Kwara Hotel     SWAN     Saka Keji     Ilorin Curfew     Wahab Egbewole     Taiwo Joseph     Alaro     Yahaya Oloriegbe     Aliyu Alhassan     Sodiya     Hamidu Olowo    

Cloud Tag: What's trending

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

Yemi Sanni     Kumbi Titiloye     Malete     Moronfoye     Yusuf Abubakar     Kazeem Gbolagade     Ibrahim Kayode Adeyemi     Okasanmi Ajayi     Javed Khan     Charcoal     Balogun-Ojomu     Kaosarah Adeyi     Bilikisu Oniyangi     Kwara State Sports Commission     Senate Presidency     Umar Ahmed Gunu     Odogun Olushola Gabriel     Bibire Ajape     Nigeria Computer Society     Wahab Isa     Moro     Oko     Kulende-UITH     Kwara State Pension Board     Isiaka Oniwa     Admiralty Villa     Kwara Consultative Forum     Bluenile Associates     Bayer Nigeria Limited     Garuba Alikinla Shittu     Olatunde Olukoya     Olatunde Michaels     Sayomi     March 18     Agbarigidoma     Umar Danladi Shero     Kwara State Infrastructure Development Fund     Nigerian Army     Abdul-Rasheed Na\'Allah     AbdulHakeem Ajibola Akanbi     Iponrin     Saidu Isa     Micheal Imoudu     Hamid Bobboyi     Post-utme     Tafida Of Kaiama     Logun     Government Girls’ Day Secondary School Pakata     Abdulkadir Remi Hawawu     Simeon Sule Ajibola     Olaitan Adefila     Tope Daramola     Elewu     Balikis Jawondo     Erubu Oba Zubair     Bello Taoheed Abubakar     Peter Obi     Isa Aremu     Council Of The Wise     Bello Abubakar     Kwara     Ben Duntoye     Abdulganiyu AbdulAzeez     Kemi Adeosun     Oja-Oba     Ibrahim Abduquadri Abikan     Student Learning Support Helpline     Hausa     Valsolar Consortium     Olaitan Buraimoh     Lawal Jimoh     Atunwa     Isaac Gbenle     Col. Taiwo     Abikan     Rashidi Yekini     Sulyman Atolagbe Alege