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.

Gabriel Fashanu     Muhammadu Buhari     Boko Haram     Elerinjare     Olaitan Adefila     Oke-Oyi     Lucky Omoluwa     Idris Garba     Niyi Osundare     Ajidagba     Bilikis Oladimeji     Medview Airlines     Lanre Olosunde     Sodiya     UTME     Sunday Fagbemi     Local Government Pension Board     Emir Of Ilorin     Isiaka Gold     Wasiu Odewale     George Funsho Adebayo     Abdulkadri Ahmad Alaiye     Agbarere     11th Galadima     Convocation Ceremonies     Lola Olabayo     Offa Grammer School     Abiodun Musa Aibinu     Muritala Awodun     Yomi Adeboye     Prince Mahe Abdulkadir     Olayinka Are     Isin     Ola Falade     Lanwa     Yakub Lai Gobir     Kwha.gov.ng     Trader Moni     SUBEB     IYA ALFA NLA     Valsolar-Kwara Company Limited     Olaiya Zuberu     Kwara North     Wahab Femi Agbaje     Mashood Dauda     AbdulGaniyu Kareem     Ibrahim Abdulkadir Abikan     Baruba     Ethical College     Joshua Adeyemi Adimula     International Public Sector Accounting Standards     Omupo     Salary     Emir Of Kano     Hakeem Idris     Babaloja-General     Abubakar Olusola Saraki     Moshood Mustapha     Moses Afolayan     Kubra Kazum     Ilofa     Habeeb Abdullahi Al-Ilory     General Tunde Idiagbon International Airport     Borgu     Moses Adekanye     Aminat Omodara     Academic Staff Union Of Universities     Sadiq Buhari     Muslim Media Watch Group Of Nigeria     Olayinka Oladapo Jogunola     Prince Sunday Fagbemi     YAKOOYO     Jaigbade Alao     Ahman Pategi University     Yakubu Shaaba     Danhawa     Isaac Aderemi Kolawole    

Cloud Tag: What's trending

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

Majlis For Sadaqah, Zakat And Waqf     Moses Rahman Popoola     Kumbi Titilope     Ilorin South Constituency     Haruna Tambiri Mohammed     Raheem Adaramaja     Abdul-Rasheed Na\'Allah     KWASAA     Kwara Muslim Pilgrims Welfare Board     Isiaka Alikinla     Yoruba     Kulende-UITH     Amuda Aluko     Clement Yomi Adeboye     Kwara-SAPZ Project     Arinola Lawal     Post-utme     Neuropsychiatric Hospital     Obuh     Ilorin Curfew     Oniwa     Jimoh Olusola Imam     Computer Based Test     Gobir     Tunji Olawuyi     Edret Sabi Abel     IHS Towers     CT Ayeni     General Tunde Idiagbon International Airport     Bolaji Nagode     Henry Olaosebikan     Otunba Taiwo Joseph     Ahmad Fatima Bisola     Countryside Emerging Leaders Fellowship     Gamji Members Association     Saad Belgore     Niyi Ogundiran     KWACOBPA     Charles Ibitoye     Balogin Alanamu     Alfa Modibo Belgore     Abdullahi Atanda     Baba Isale     Taofik Abdulkareem     Al-Ilory     Shehu Alimi Foundation For Peace And Development     Olushola Saraki     CELF     Tsado Manman     CUTI     Mubarak Oladosu     Saadu Yusuf     Demola Banu     Emmanuel Olatunji Adesoye     Budo-Egba     Olayinka Oladapo Jogunola     Umar Saro     Nigerian Correctional Service     Kupchi Hosea Maxwell     Emir Of Yashikira     Lanwa     Surajudeen Akanbi     Ariyo     Folorunsho Alao     John Obuh     Shero     Olaoye B. Felix     Abdulquawiy Olododo     Oye Tinuoye     Sa\'adatu Modibbo-Kawu     Oba Abdulkadir La\'aro     11th Galadima     Ilorin Talaka Parapo (ITP)     Salau Kabiru Abdullahi     Kwara University Of Education     Trader Moni     Ilorin Likeminds Foundation