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.

Shuaib Olarongbe     Garba Ado Sanni     Amos Sayo     Eghe Igbinehi     Henry Olaosebikan     NTA Ilorin     Abraysports FC     Smart School     Binta Abubakar-Mora     Bello Oyebanji     Moses Rahman Popoola     Moses Salami     IF-K     Dele Momodu     Apata Ajele Secondary School     Alloy Chukwuemeka     Neo Mundo Ltd     Bolakale Saka     NaAllah     Amule Elementary School     MATTA Girls Foundation     Abdulazeez Uthman     Onikijipa     Raji AbdulRasaq     Saka Saadu     Mujtabah Bature     Bashiru Makama     Aisha Gobir     Ajuloopin     Kayode Ogunlowo     Bashir Omolaja Bolarinwa     Sidikat Alaya     Ilorin Central Mosque     Lanre Badmas     Nupe     Musa Ayinla Yeketi     Jebba     JSSCE     Tunde Yusuf     Saka Asiat Ayinke     Abubakar Baba Sulaiman     Mohammed Ibrahim     Abdulrosheed Okiki     Shao     Vishvas KOZ Tractors     Alapado     Charles Ibitoye     Akorede     COVID     All Peoples Party     Falokun-Oja     Mashood Dauda     Nagode     Hassan Abdulazeez Elewu     Vasolar     Aminu Adisa Logun     Wahab Kunle Shittu     Vasolar-Kwara Company Ltd     Bukola Ajikobi     Tunji Moronfoye     Monkey Pox     Onilorin     Musibau Akanji     James Kolo     Olatunde Jare     Frootify     A.G.F Abdulrasaq     Saad Omo Iya     Babaloja-General     Olokoba Sulyman     Abdulrahman Abdulrasaq     Abdullah Janet Amudat     Aliyu Muhammed     Gbadeyan Gbadura Yomi     Islamiya Abdulraheem     Ike Ekweremadu     Adedayo Yusuf Abdulkareem    

Cloud Tag: What's trending

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

Kwara State Polytechnic     Kwara State Printing And Publishing Corporation     Onilorin     Post-utme     Erin-ile     KwaraLearn     Gaa Olobi     Kayode Laro     Dar-Al-Handasah Consultants     Kwara Politics     Okin Biscuit     Adewuyi Funmilayo     Christian Association Of Nigeria     Nigerian Army     Tosin Saraki     Ahmed Ayinla Jimoh     Lateef Ademola Olatunji     Taofeek Ibraheem     Ayodele Kuburat Olaosebikan     Ganmo Electricity Sub-Station     David Oyerinola Adedunmoye     Ibrahim Oloriegbe     Government Girls’ Day Secondary School Pakata     Damilola Yusuf Adelodun     Shehu Alimi Foundation     General Hospital, Offa     Bashir Omolaja Bolarinwa     Imam Gambari     MATTA Girls Foundation     Makama Of Ilorin     Magaji Are     Jebba     Baakini     Rafiu Ibrahim     Tunde Akanbi     Gbenga Awoyale     ARMTI     James Kolo     Lanre Issa Onilu     Onikijipa     Jeunkunu-Malete-Bani     SAPZ Project     Kwara State Governor     Tunde Mukaila Mustapha     Abdulsalam Firdaous Amosa     Ita-Ore     Towobola Abdulrahman Toyin     Kayode Zubair     Ita-Nmo Market     Col. Taiwo     International Public Sector Accounting Standards     Rihanat Ajia     Bluenile Associates     Joseph Alex Offorjama     Akorede     Bamidele Adegoke     TIIDELab     Agor Market     Suleiman Ajadi     Abdulrauf Aliyu     Kwara State Pension Board     Umar Adelodun     Olabanji Orilonishe     NULGE     Titus Ashaolu     All Peoples Party     Durbar Festival     Ganiyu Taofiq     David Oyepinola Adedumoye     Kwara State Television (KWTV)     Kannike     Ilorin Emirate Stakeholders Forum     Junior Secondary School Certificate Examinations     Abubakar B.M     Mary Kemi Adeosun     Kaiama     Oluwatoyin Lukman