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.

Rueben Parejo     Omoniyi     Alumni Association Of The Federal Polytechnic Offa     Omu Aran     Soffiyyallah Kamaldeen     Metro Park     Nigeria Governors\' Forum     Kwara Primary Health Care Development Agency     Gaa Olobi     Sola Saraki University     Oke-Ero     Kayode Oyin Zubair     Bolaji Aladie     Kayode Ogunlowo     Isapa     Igosun     Belgore     Unilorin     Agboola Abdulraheem     Okasanmi Ajayi     Rice Farmers Association Of Nigeria     College Of Education     Lukman Oyebanji Fagbemi     Offa Metropolitan Club     Kayode Zubair     Usman Alkali Baba     Bahago     Oniwa     Old Oyo     Kwara     Ajibola Saliu Ajia     Kwara Metro Park     Zaratu Umar     Mubarak Oladosu     Medview Airlines     Iyiola Oyedepo     Valsolar Consortium     Hajj     Chikanda     Saadu Yusuf     Gani Saadu     Tafida Of Ilorin     Valsolar-Kwara Company Limited     The Herald     Umar Sanda Yusuf     Presidential Election     Ajase-Ipo     Ahmad Fatima Bisola     Bamikole Omishore     Segun Abifarin     MAI Akande     Shehu Adaramaja     Dagbalodo     TESCOM 2025     Suleiman Abubakar     Abubakar Usman Jos     Amuda Aluko     Taofik Abdulkareem     Idowu Aremu     Ubandawaki     Kwara United     Micheal Imodu-Ganmo Road     Kwara Coalition Of Business And Professional Associations     Galland Marcias     Oyawoye     Olokoba Sulyman     Saliu Shola Taofeek     Ademola Kiyesola     Ojuekun     Kayode Ibrahim     Folajimi Aleshinloye     Sulyman Atolagbe Alege     Mohammed Haruna     Al-Hikmah University     ARMTI     Abdulwahab Oba     Matthew Okedare    

Cloud Tag: What's trending

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

Taibat Ayinke Ahmed     Olam Food Ingredients     Abegunde Goke     Oke-Ode     Alapado     Abdullahi Biffo     Oladipo Akanmu Tolani     Salman Suleiman     Patience Jonathan     Federal Road Maintenance Agency     Abubakar Usman Jos     Umar Gunu     IHS Towers     KWASEIC     Ben Duntoye     Kunle Akogun     ASMAU PLAZA     Kwara Coalition Of Business And Professional Associations     Sobi Specialist Hospital     AbdulHamid Adi     Modupe Oluwole     Labaeka     Jide Oyinloye     Gbugbu     Bolaji Abdullahi     Saheed Popoola     Rafiu Ibrahim     Muhammad Mustapha Suleiman     Ubandawaki     Tanke Road     Ayo Opadokun     IESA     Fareedah Dankaka     Dele Belgore     Yusuf Ibitokun Sherifat     Senior Special Assistant On Student Affairs     Doyin Awoyale     Kola Bukoye     CUTI     Oja-Oba     Monthly Sanitation     QuickWin     PPS     Kale Ayo     Marufat Oladosu     Mufutau Olatinwo     Democracy Day     Hajj     NITDA     Press Release     Abdullahi Adisa Akodudu     Vasolar Consultoria     Alfa Yahaya Road     Ezekiel Yissa Benjamin     Toun Okewale-Sonaiya     Special Agro-Industrial Hub     Kunle Okeowo     Kwara Politics     Standard Organization Of Nigeria     Ghali Muhammed     Moremi High School     Kwara     Musa Ayinla Yeketi     Raliat AbdulRazaq     Folaranmi Aro     Sulyman Buhari     Abatemi-Usman     TESCOM 2025     Young Progressives Party     BIR     Abdulkadir Akanbi-Oke     Kwara TV     Just Law Forum     Government House     Shehu Jimoh     Akeem Olatunji     AbdulRasaq Abdulmajeed Alaro