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.

Kwara University Of Education     Olawuyi     Kayode Yusuf     Issa Oloruntogun     Yaman     Abdulmumin Yinka Ajia     Abdulrasheed Lafia     Eghe Igbinehi     Babatunde Ajeigbe     Ajasse-Ipo     State Bureau Of Internal Revenue     Hajj     Bond     Frootify     Modibo Kawu     ANCOPPS     Olusin Of Ijara Isin     Patigi Regatta     Christopher Odetunde     Nigerian Correctional Service     Facebook     Bureau Of Lands     Valsolar     Michael Ologundea     Abdulfatai Ahmed     Busari Alabi Alausa     Oba Abdulrahim     Federal Allocation     Kwara Coalition Of Business And Professional Associations     Durbar Festival     Amos Sayo     Olusegun Adeniyi     Muhammed Mahe Abdulkadir     ARMTI     Abdulkadri Ahmad Alaiye     Amuda Musbau     Millennium Development Goals     Olugbense     Abdulraheem Yusuf     Abdulazeez Uthman     Twitter     Abdulrasheed Na\'Allah     Omotoso Musa     National Union Of Road Transport Workers     Muritala Olarewaju     HYPPADEC     Abdulrahman Abdulrazaq     Busari Toyin Isiaka     Odo-Owa     Kwara State Coalition Of Business And Professional Associations     Chief Imam Of Ilorin     Aliyu Olatunji Ajanaku     TESCOM     All Peoples Party     Dankaka     Ilofa     Alimi     Alao Ayotunde     AbdulGaniyu Kareem     Ibrahim Abikan     Wasiu Odewale     Ado Bayero     Ayobami Seriki     Yusuf Zulu-Gambari     Sanitation Exercise     Saeedat Aliyu     Kwara State Fire Service     Adebara     Arik     Yusuf Aiyedun     Abdulganiyu Salahudeen     Ibrahim Labaika     Baba Issa     Economic And Financial Crimes Commission     Medview Airlines     Muftau Akanbi Oke     Lanre Badmus    

Cloud Tag: What's trending

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

Dan Masanin     Government House     Ahmed Alhasssan     Muhammed Akanbi     Park     Esinrogunjo     UTME     Agboola Babatunde     Sabi     Ridhwanullah Al-Ilory     Tunde Idiagbon Road     Folorunsho Alao     Bola Iyabo Ibiyeye Adisa     Ishak Mohammed Sabi     Fawenu     Islamiya Abdulraheem     Babatunde Ishola Babaita     Taiwo Joseph     NIPOGA     Ali Ahmad     Olokoba Sulyman     Ahmad Lawan     Aliyu Sabi     Alfa Modibbo Belgore     Adisa Logun     Saka Aleshinloye     Hussein Oloyede     Centre For Digital Economy     Dan-Kazeem     Abdul-Rahoof Bello     Sherif Sagaya     Hassan A. Saliu     Senate President     Kawu Baraje     Yusuf Ali     Plat Technologies     Press Release     Kaiama     Kwara Teaching Service Commission     SSUCOEN     Obayomi Azeez     Sai Kayi     Muhammad Toyin Sanusi     Madawaki     Noah Yusuf     AbdulGaniyu Kareem     Awoye     Ibrahim Jawondo     Mahmud Babatunde Baker     Oyun     Ilesha-Baruba-Gwanara     Elerin Of Adanla Irese     Bayer AG     SGBN     Fatima Abolore Jimoh     Wahab Egbewole     Government High School Adeta     Mohammed Abdulahi     Lasiele Alabi Yahaya     Bolakale Kawu     Adamu Jemilat-Baki     Esuwoye     John Kehinde Salako     Razaq Atunwa     Yakubu Dogara     Mamatu Abdullahi     Razak Atunwa     AbdulHakeem Ajibola Akanbi     Yaru     Yunus Lawal     Khairat Gwadabe     Olaiya Lawal     Muazam Nayaya     Emmanuel Bello     Ayodele Olaosebikan     Baba Adini Of Kwara State     Olam Food Ingredients