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.

Dankaka     General Tunde Idiagbon International Airport     Kwara Basketball Association     Yusuf Badmus     Umar Adelodun     Charles Ibitoye     Oba Sulaiman Asude     Shade Omoniyi     Baba Issa Awoye     Kulende     Sarah Jubril     Yetunde Balogun     Umar Bayo Abdulwahab     CT Ayeni     Soffiyyallah Kamaldeen     Abdulmumini Sanni Jawondo     Yahaya Seriki     IFK     Nigeria Governors\' Forum     Vishvas KOZ Tractors     Kayode Yusuf     Zulkifli Ibraheem     SSA Youth Engagement     Kayode Oyin Zubair     Senior Ibrahim Suleiman     Kayode Issa     Isau     Ayo Opadokun     Mufutau Olatinwo     Abubakar Baba Sulaiman     Coronavirus     Jimoh Bashir     Code Of Conduct Bureau     Oko-Olowo     Memunat Monsuma     Damilola Yusuf Adelodun     Abdullahi Dasilva Yussuf     Kawu Baraje     Adamu Jemilat-Baki     AbdulRauf Keji     Modupe Oluwole     Toyosi Thomas     Afeyin-Olukuta     Ahmed Bayero     Lukman Adeloyin     Adeleke Ogungbe     Bilikis Oladimeji     Salihu Ajibola Ajia     Asa LGEA School     Olatunde Michaels     Odolaye Aremu     TVC Female National Debate     Lola Olabayo     Olaosebikan     Shehu Salau     Arinola Fatimoh Lawal     Iqra Books     IESA     Ibrahim Taiwo Road     Yoonus Kola Olatinwo     Ilota     Busari Toyin Isiaka     Abdullahi G. Mohammad     College Of Arabic And Islamic Legal Studies     Abdullahi Adisa Akodudu     N-Power     V.O. Abioye     Laboratory-to-Product     Segun Abifarin     Bello Oyebanji     Ghali Muhammed     Awodun     Baboko Primary School     Halidu Danbaba     Usman Yunusa     Mopelola Abdulmaliq-Bashir     Buari Edun    

Cloud Tag: What's trending

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

Ahmad Uthman     2017 Budget     Salman Jawondo     Awodun     Jamiu Oyawoye     FOMWAN     Government High School (GHS), Adeta     Tunji Oyawoye     Abdulmumini Jawondo     Hamza Usman     Yahaya Seriki     Suleiman Rotimi Iliasu     Galland Marcias     Kwara North     Abubakar B.M     Nnazua     Irepodun     Daud Adeshola     Adolescent Girls Initiative For Learning And Empowerment     Abdul-Rasheed Na\'Allah     Fareedah Dankaka     Alaiye     Rice Farmers Association Of Nigeria     Ndama Al-hassan     Hameed Oladipupo Ali     Saadatu Modibbo-Kawu     Ahman Pategi     Economic And Financial Crimes Commission     Garba Dogo     Sobi Specialist Hospital     Oko-Erin     Emmanuel Olatunji Adesoye     Kazeem Adekanye     Minimum Wage     Mamman Saba Jibril     College Of Education     Abiodun Oyedepo     Ijagbo Health Centre     Wasiu Onidugbe     GANZY     Joana Nnazua Kolo     Bayer Nigeria Limited     Wahab Femi Agbaje     Umar Ahmed Gunu     TVC Female National Debate     Okiki     IDPU     Muhammad Mustapha Suleiman     Pakata Development Association     Oladimeji Thompson     Lanre Badmus     Fatai Adeniyi Garba     Kwara Metro Park     Ubandawaki     Shonga     Lawyers Unite Against Corruption     Special Agro-industrial Processing Zone     Olatinwo     Kolawole Akande     Gobir     Ayobami Akanbi     Abdulkadir Bolakale Sakariyah     PPS     Moses Adekanye     Ajike People Support Centre     Kale Ayo     Budo-Egba     2023 Elections     Mustapha Olanipekun     Ahmed Alhasssan     Asiwaju Bola Tinubu     Muhammed Akanbi     Emir Of Ilorin     All Peoples Party     Yakubu Danladi     Atiku     Kazeem Oladepo