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.

Emir Of Lafiagi     Aishatu Ahmed Gobir     Alabi Olayemi Abdulrazak     Muhammad Yahya     Oja-Oba     Bilikisu Gambari     Alikinla     Issa Oloruntogun     ASKOMP     Emmanuel Bello     Okedare     Kwara Coalition Of Business And Professional Associations     Riskat Opakunle     Dairo Kunle Paul     Muideen Olaniyi Alalade     Oloye     Alagbado     AbdulKareem Yusuf Danhawa     Sam Okaula     Durbar     Olatunji Moronfoye     Sabi     Tosho Yaqub     Al-Hikmah Radio     Kazeem Gbolagade     Lola Olabayo     Charles Ibitoye     Adisa Logun     Gafaru Olayiwola Olorisade     Ile Arugbo     Bamidele Adegoke Oladimeji     Madawaki     Chief Imam Of Lafiagi     Idi-Ape     Niyi Ogundiran     Oke Sunna     KWASSIP     Bamikole Omishore     Markaz Arabic And Islamic Training Institute, Agege     Bond     Kemi Adeosun     Yunus Lawal     Babajide Ajayi     Eghe Igbinehi     NTA Ilorin     Abdulrauf Aliyu     Rotimi Oyedepo     Doyin Group     Saidu Isa     Yusuf Ali     Muritala Olarewaju     Folashade Omoniyi     AbdulFatai Adeniyi Dan-Kazeem     Zulkifli Ibraheem     Vasolar Consultoria     Ibrahim Labaika     Adamu Jemilat-Baki     Agor Market     Baboko     Awwal Jawondo     Maigida     Kwara University Of Education     Saidu Yaro Musa     Elerin Of Adanla Irese     Alumni Association Of The Federal Polytechnic Offa     Musa Ayinla Yeketi     Folorunsho Alao     Binta Abubakar Mora     Bola Olukoju     Yekeen Alabi     Agor     Gbemisola Oguntimehin     Bashir Omolaja Bolarinwa     Sunday Fagbemi     Ijagbo Health Centre     Emmanuel Olatunji Adesoye     Babaloja-General    

Cloud Tag: What's trending

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

College Of Arabic And Islamic Legal Studies     Senate President     Surajudeen Akanbi     Ibrahim Bio     Hassan Taiye Salam     Obasanjo     Tope Daramola     Benin Republic     Sa\'adatu Modibbo-Kawu     Abdulrahman Abdulrasaq     Kwara United     Fatai Adeniyi Garba     Dauda Adesola     Shuaib Abdulkadir     Igosun     Radio Kwara     Igbaja     Abdulkadri Ahmad Alaiye     Saadu Alanamu     Oyeyemi Olasumbo Florence     Ayobola Ipinlaiye     Gobirawa     Ayekale     Bolakale Saka     Dunmade     Maigida     Centre For Digital Economy     Ekiti     Sheikh Ariyibi     Olateju Lukman     Oko-Olowo     Abdulwahab Oba     Lithium     Raimi Iyanda     Summit University     Afonja     Saka Saadu     Isaac Gbenle     IPSAS     Oniyangi     Awwal Jawondo     Mogaji Aare     Umar Saro     HICA     Taibat Ayinke Ahmed     Matthew Babaoye     EndSARS     Muslim Stakeholders Of Kwara State     Ijakadi     Aliyu U. Tilde     Bukola Saraki     Gobir     Firdaos Amasa     Borgu     David Adesina     Timothy Akangbe     Baboko     Oyawoye     Afonja Descendants Union     Garba Idris Ajia     Mike Omotosho     Taofik Mustapha     Ibrahim Abdulqadir Abikan     Makama Of Kaiama     Olohungbebe     Oke-Kura     Gaa Olobi     Oladipo Akanmu Tolani     Bello Bature     Ibrahim Gambari     PPS     Mohammed Haruna     Sobi Hill     Shaaba Lafiagi     Ronke Adeyemi     Isiaq Khadeejah     Abdulrasheed Akogun