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.

Muhammed Abdullahi     Dasuki Belgore     Saudat Abdulbaqi     Ronke Adeyemi     Kawu     Musa Alhassan Buge     Moji Makanjuola     SARS     Mufutau Olatinwo     CT Ayeni     Federal College Of Education (Special), Afon     Iyeru Grammar School     Senior Staff Union Of Colleges Of Education     Oyedun Juliana Funke     Christopher Ayeni     Samuel Adedoyin     Ilorin Innovation Hub     Gbemi Saraki     Dan Iya Of Ilorin     Saka Onimago     National Association Of Nigerian Students     Government House     Damilola Yusuf Adelodun     Yekini Adio     Gbugbu International Market     Oke-Odo     Aliyu Muyideen     Al-Hikmah University     Donatus Ejidike     Babaloja-General     Saba Jibril     Abdullahi Biffo     Sai Kayi     Jalala     Kamaldeen Ajibade     Apata Ajele Secondary School     Durosinlohun Atiku     Charles Ibitoye     Centre For Community Empowerment And Poverty Eradication     Hassan Oyeleke     Baba Isale     Kazeem Oladepo     Ilorin South Constituency     Sanitation Exercise     Owu Fall     Code Of Conduct Bureau     Public Holiday     Raimi Iyanda     Kwara State Pension Board     Adeniyi Ojo     Yusuf A. Usman     Funmi Salau     SSA Youth Engagement     07039448763     2023 Elections     Olabode George Towoju     Mansur Alfanla     BECE     Matthew Okedare     Femi Agbaje     Elewu     Albert Ogunsola     Gbenga Adebayo     Olomu Of Omu-Aran     Tsado Manman     Ilesha Gwanara Road     Roseline Oni Aremu     Olota Of Odo-Owa     Ahmed Saidu Rufai     Buari Edun     Rotimi Oyedepo     Abiodun Abdulkareem     Raliat Elelu-Habeeb     Olayinka Olaogun     Abdulmajeed Abdullahi     SWAN     Taiwo Joseph    

Cloud Tag: What's trending

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

Olatunji Ayeni     Bolaji Gambari     Odo-Owa     Abdulrazaq Akorede     Jide Ashonibare     Special Adviser On Digital Innovation     Okasanmi Ajayi     Bamidele Aluko     Jelili Yusuf     07039448763     Olabode George Towoju     Rotimi Oyedepo     Universal Basic Education Commission     Unilorin     Oke-Ode     Kwasu     AbdulRahman Saad     JSSCE     Sheriff Shagaya     Moses Rahman Popoola     Ajayi Okasanmi     Galadiman Ngeri     Ahmad Olanrewaju Belgore     Samuel Adaramola     Elewu     Folajimi Aleshinloye     Elesie Of Esie     Raliat Elelu-Habeeb     Convocation Ceremonies     Olatunji Moronfoye     Oya State     KWSIEC     Veterinary Teaching Hospital     Sarafadeen Kayode Akorede     Oniyangi Kunle Sulaiman     Makama Of Ilorin     Oyeyemi Olasumbo Florence     Mufutau Gbadamosi Esuwoye     Abiodun Musa Aibinu     TVC Female National Debate     Bola Magaji     Katibi Ibraheem Adeola     Tunde Akanbi     Ibrahim Abdulqadir Abikan     SSUCOEN     Sola Saraki Educational Foundation     Modibbo Kawu     Yomi Ogunsola     Elerin Of Erin-Ile     Women Radio     Kwara Metro Park     Oba Abu     Saeedat Aliyu     LEAH Charity Foundation     Shaykh Luqman Jimoh     Abiodun Jacob Ajiboye     Ishola Moses Abiodun     Ayodele Shittu     Ahmed Bayero     Lawal Jimoh     Yakub Lai Gobir     Ridwan Agboola     Adisa Logun     Alagbado     Shagari     Abdulfatai Salman Baakini     Savannah Centre For Diplomacy, Democracy And Development     Salake     Jimoh Akani     Farouk Salim     Busari Alabi Alausa     Oyedepo     Oke-opin     Saliu Ajibola Ajia     Third Estate     Okala Baba     Ekiti