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.

Shero     AbdulFatai Adeniyi Dan-Kazeem     Abdullahi Adisa Akodudu     Ahmed Bayero     Post-utme     Goodluck Jonathan     Olatomiwa Williams     Muhammad-Mustapha Suleiman     ANCOPPS     Coalition Of Kwara North Groups     Idris Garba     Bola Sagaya     Muyiwa Oladipo Kanu     Ilorin International Airport     Christopher Ayeni     Cassava Growers\' Association     Bahago     Tafida Of Kaiama     Malete     Aliyu Kora-Sabi     Vasolar Consultoria     Yoonus Lawal     Lola Olabayo     Otunba Taiwo Joseph     Bareke     Salihu Jibril Garbi     Isiaka Gold     Kishira     Photo News     Iyaloja-General     Saliu Tunde Bello     Isa Aremu     The Herald     Ita-Nmo Market     Mutawali     Majlis For Sadakah, Zakat And Waqf     NaAllah     Raji Ayodele Kamaldeen     Kulende-UITH     Sulyman Tejidini     Ahmad Ali     Muhammadu Gobir     Lukman Adeloyin     IF-K     Suwa-Arabs     Saka Asiat Ayinke     Sunday Popo-Ola     Congress For National Consensus     Ibraheem Adeola Katibi     Bayo Ojo     Okasanmi Ajayi     AbdulRazaq Abubakar Jiddah     Roseline Oni Aremu     Jide Ashonibare     Alfa Modibo Belgore     S.O. Opowoye     Agboola Abdulraheem     Ishola Balogun Fulani     Twitter     Eleja     Oke-opin     Odo-Owa     Sadiq Buhari     Balikis Jawondo     Haruna Tambiri Mohammed     Abdulrahman Onikijipa     T And K FOODS     Isapa     JSSCE     Taofik Abdulkareem     Raliat Islamic Foundation     Abubakar Olusola Saraki     GGDSS Pakata     Muhammad Yahya     Ahman Pategi University     Junior Secondary School Certificate Examinations     Emir Of Lafiagi    

Cloud Tag: What's trending

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

Bello Bature     International Aviation College     KFA     Kwara State Sports Commission     Onilorin Of Ilorin     Federal Allocation     Omar Gambari     Logun     Salami Adekunle     Abdulahi Abubakar Bata     IPSAS     Bello Oyedepo     Kumbi Titiloye     Osi     Basit Olatunji     Oluronke Adeyemi     Ilota     Sola Saraki Educational Foundation     Tosin Saraki     Amasa     Ahmad Olayiwola Kamaldeen     Shuaibu Yaman     Akeem Lawal     SSUCOEN     Kwarareports     Col. Taiwo     Sulyman Buhari     Facebook     Bond     Umaru Saro     Raymond Olaitan     Oniyangi     Abdulrasheed Na\'Allah     Summit University     FERMA     Ibrahim Kayode Adeyemi     Aliyu U. Tilde     Kolade Solagberu     Waheed Ibrahim     Ayeyemi Sulaiman     Ilorin Emirate Staff Association     Ojo Isekuse     Voices Of Tomorrow     Matthew Okedare     Zubair Folorunsho Erubu     Roheemat Hammed     April 11     Omar Bolaji Gambari     Yoonus Kola Olatinwo     Afetu Of Alabe     Oba-Solagberu     Iyaloja-General     Ajia-Bako     Halidu Danbaba     Ibrahim Abduquadri Abikan     Yahaya Abdulkareem Babaita     Amusa Bello     Emir Of Kano     Ubandoma Of Ilorin     Muhammad Akande Olarewaju Odunade     Al-Adaby     JSSCE     Olatunde Olukoya     Ministry Of Women Affairs And Social Development     Edret Sabi Abel     Yaru     Micheal Imoudu     Government Girls’ Day Secondary School Pakata     Ajuloopin     Ekweremadu     SSA Youth     Abdulrasaq Alaro     Mohammed Alabi Lawal     Ophthalmological Society Of Nigeria     Kwara Poly     Abdulrazaq Adebayo     Sheikh Hamzat Yusuf Ariyibi