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.

Idris Amosa Oladipo Saidu     Amina El-Imam     Kwara 2015     Alaaya     Talaka Parapo     Madawaki     Ganmo Electricity Sub-Station     Lateef Fagbemi     Facebook     Emir Of Yashikira     Busari Alabi Alausa     Monsurat Omotosho     Kabir Shagaya     Adaramaja     Harafat E. Mukadam     Kolade Solagberu     Odogun Olushola Gabriel     Suleiman Rotimi Iliasu     Obasanjo     Idris Garuba     Ridwan Agboola     Yusuf Abdulwahab     Abdul Jimoh Mohammed     Colleges Of Education Academic Staff Union     Bilikisu Oniyangi     Nigeria Association Of Women Journalists     Rice Farmers Association Of Nigeria     Doyin Group     Awoye     Michael Nzekwe     Ndakene     Salmon Babatunde Salmon     Abdulwaheed Musa     Just Law Forum     Mohammed Ibrahim     Tunde Mukaila Mustapha     Aliyu Alhassan     Yahaya Seriki     Kolawole Akande     Omu Aran     Esinniobiwa Quareeb     Abdulraufu Mustapha     General Hospital, Ilorin     LAK Jimoh     Mohammed Yahaya Barki     Suleiman Ajadi     Economic And Financial Crimes Commission     Olusegun Adeniyi     Nagode     Arinola Fatimoh Lawal     Ahmed \'Lateef     Yinka Aluko     Sodiya     Col. Taiwo     Kannike     Isa Aremu     Eruku     Salihu Ajia     Aso Ofi     Village Alive Development Association     Abdullahi Adisa Akodudu     Katibi Ibraheem Adeola     Hydro-electric Power Producing Areas Development Commission     College Of Health     Ariyo     Otoge     Awodun     Suwa-Arabs     Elekoyangan     Omar Gambari     Yoonus Kola Olatinwo     Awili Pedro     Abdulmajeed Abdullahi     Kwarareports.com     Sa\'adu Gambari     IYA ALFA NLA     General Tunde Idiagbon International Airport    

Cloud Tag: What's trending

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

Ishaq Salman     Ilesha-Baruba-Gwanara     Akande Idowu Ayoola Muhammed     Sarakite     Simeon Sayomi     Sheriff Shagaya     Nigerian Medical Association     Kulende     Oke-Kura     Tanke     Bola Ahmed Tinubu     Ajike People Support Centre     Ministry Of Women Affairs And Social Development     Wahab Issa     Ishola Abdullahi     Jumoke Monsura Gafar     Muslimah Entrepreneurship Forum     Opobiyi     Amuda Musbau     Modupe Oluwole     Bayo Ojo     Kwara     Awili Pedro     Tayo Awodiji     Apado     Egbewole     Khairat Gwadabe     Abdulrahman Abdulrazaq     Shaykh Luqman Jimoh     Owode Market     Kuliyan Geri     Abdulkadir Orire     Nurudeen Mohammed     Yusuf Lawal     Jide Oyinloye     Kazeem Oladepo     Haruna Olawale Sulaiman     TESCOM     Ilorin Muslim Community     Onilu     Umar Gunu     Lotus Bank     Age AbdulKareem     Millennium Development Goals     PAACO-PCL Consortium     Abubakar Abdulraheem     Otunba Taiwo Joseph     National Party Of Nigeria     IESA     Abdulraheem Olesin     Danhawa     Oke-opin     Iyeru Grammar School     Toyosi Thomas     Zaratu Umar     Omotoso Musa     Abdulraufu Mustapha     Idiagbon     Government High School Adeta     Shehu Alimi Foundation For Peace And Development     Aminu Ado Bayero     Olateju Lukman     Baba Issa     Admiralty Villa     Alabi Olayemi Abdulrazak     Dunmade     Village Alive Development Association     Plat Technologies     AbdulRazaq Abubakar Jiddah     CCB     Ayeyemi Sulaiman     Special Agro-Industrial Hub     Oke-Oyi     Vasolar     Abdulrahman Abdulrasaq     Baba-Isale     Oko Erin