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.

Bello Abubakar     Centre For Community Empowerment And Poverty Eradication     Ahmed Idris Mohammed     Olatomiwa Williams     Durosinlohun Kawu     Kayode Oyin-Zubair     Muhammad Mustapha Suleiman     Ben Duntoye     JSSCE     Valsolar Consortium     KWATMA     Tunde Yusuf     Bukola Ajikobi     Facebook     Aliyu Sabi     Bio Ibrahim     Patigi Regatta     Abdulkadir Bolakale Sakariyah     Amos Justus Sayo     Apaokagi     Public Holiday     Junior Secondary School Certificate Examinations     Oladimeji Thompson     Oloye     Peter Obi     General Tunde Idiagbon International Airport Ilorin     Third Estate     Olusin Of Ijara Isin     Yusuf Abdulkadir     Olatunde Olukoya     Olateju Lukman     Abdulrazak Shehu Akorede     Omu-aran     Sheikh Ariyibi     Gobir Organization Foundation     Kisira     Abdulmumin Yinka Ajia     Taofik Abdulkareem Babaita     Rafiu Ibrahim     Suleiman Abubakar     Taiwo Joseph     Shettima Of Ilorin     National Association Of Nigerian Students     IEDPU     Kwara Coalition Of Business And Professional Associations     Alliance For Democracy     Modupe Oluwole     Azeez Salawu     Volunteers Of Ilorin Community And The Emirate     Justina Oha     Ibrahim Labaika     Yemi Sanni     Shaykh Luqman Jimoh     Ayobami Akanbi     Quarry Royal Valley     Special Agro-industrial Processing Zone     Isiaka Oniwa     Yusuf Zulu-Gambari     Abubakar Abdullahi Bata     Abubakar Lah     Jimoh Bashir     Mope Dasuki Belgore     Ibrahim Kayode Adeyemi     Mohammed Ghali Alaaya     Saliu Tunde Bello     Haruna Tambiri Mohammed     Ezekiel Yissa Benjamin     Owo Arugbo     Adebara     Lasiele Alabi Yahaya     MalHub     Taofik Abdulkareem     Press Release     Oniyangi     Pilgrims Board     Suleiman Ajadi     Musa Yeketi    

Cloud Tag: What's trending

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

Bahago     Raliat Elelu-Habeeb     Yakubu Shaaba     Voices Of Tomorrow     Sebastine Obasi     Oluwarotimi Boluwatife Adenike     David Oyedepo     Ramadhan     Offa Metropolitan Club     Habeeb Saidu     Minister     Elelu     Kwara State Geographic Information Service     Labour Party     Olatunde Oyeyiola     Muyiwa Oladipo Kanu     Towoju     Salmon Babatunde Salmon     Shoprite     Share     Air Peace     Christopher Odetunde     Idowu Aremu     Katibi Ibraheem Adeola     Shehu Alimi Foundation For Peace And Development     Onilupeju Of Ilupeju     Salihu Yahaya     Ola Falade     Yahya Mohammed     Amos Bajeh     Jimoh Olusola Imam     Markaz Arabic And Islamic Training Institute, Agege     Kabir Shagaya     Olugbense     Women For Change And Development Initiative     Sarakite     Iyabo Adewuyi     Quareeb     Charles Ibitoye     Owu Fall     Kwara Muslim Pilgrims Welfare Board     Aliyu Muhammad Saifudeen     Plat Technologies     Maigida     Alfa Belgore     Millennium Development Goals     Amuda Bembe     Abdullahi G. Mohammad     ASUU     Abubakar Abdulraheem     Tanke Road     Garba Idris Ajia     Olanrewju Okanlawon Musa     Ifelodun     Tunde Saad     Musa Ayinla Yeketi     Abdulkareem Alabi     Lateef Ademola Olatunji     Bello John Olanrewaju     Abdulrahman Onikijipa     Is\'haq Modibbo Kawu     Dan Iya Of Ilorin     Mutawalle     Young Progressives Party     Siddiq Adebayo Idowu Salawu     Taibat Ayinke Ahmed     Yaru     Muyideen Ajani Bello     Elerin Of Adanla Irese     Baboko Primary School     University Road     Ayodele Kuburat Olaosebikan     Isiaka Saka Opobiyi     Nigerian Army     CACOVID Palliatives     Rachael Obisesan     Abubakar Kawu Baraje