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.

Waziri Yakubu Gobir     Durbar     V.O. Abioye     Arinola Fatimoh Lawal     Binta Abubakar Mora     Turaki Of Ilorin     Ilorin Talaka Parapo (ITP)     Abdulrahman Iliasu     Raliat AbdulRazaq     Ganmo     Federal Allocation     Abubakar Aliagan     Ogidi-Oloje     Musa Ayinla Yeketi     Lai Mohammed     Kwara South     Kwara State Council Of Chiefs     JUSUN     CUTI     Damilola Yusuf Adelodun     Simeon Sayomi     11th Galadima     Fulani     Bukola Ajikobi     Damilola Yusuf     Eleyele     Mufutau Gbadamosi Esuwoye     Hamza Usman     Harrison Osauwagboe     Roseline Oni Aremu     Shuaibu Yaman Abdullahi     Kwara Teaching Service Commission     Anilelerin     Senior Special Assistant On Student Affairs     C2c@kwarastate.gov.ng     Issa Baba     Mahmud Durosinlohun Atiku     Omotoso Musa     Asa LGEA School     JMK Construction Company Limited     Baba Issa     KWASIEC     FOMWAN     Ghali Alaaya     ASMAU PLAZA     Olabanji Orilonishe     Aro Yahaya     Vasolar Consultoria     Abdulmajeed Abdullahi     REO CAKES     Jide Oyinloye     UNIFEMGA     Smart School     SSUCOEN     Bola Magaji     Abdulrasheed Lafia     LABTOP     Lasiele Alabi Yahaya     Maja     Abdulquawiy Olododo     Oke-Odo     Suleiman Ajadi     Ajeigbe     Okanlawon Musa     Sola Saraki Educational Foundation     Amosa     Nigeria Governors\' Forum     Al-Hikmah University     Kwara-SAPZ Project     Ekweremadu     Towoju     Mashood Dauda     Abdullahi Biffo     Oya State     Aliyu Adebayo     Opaleke Bukola Iyabo     Lateef Alagbonsi    

Cloud Tag: What's trending

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

Wole Oke     Salihu Jibril Garbi     Y.A. Abdulkareem     Olabode George Towoju     Amoyo     Adedayo Yusuf Abdulkareem     Maimunat Oloriegbe     Abdulmumini Sanni Jawondo     Kwara Hotel     Shehu Jimoh     Radio Kwara     Kannike     Nigerian Supreme Council For Islamic Affairs     Ajeigbe     Nigeria Association Of Women Journalists     Omotoso Musa     Modupe Oluwole     Offa Descendants Union     Post Utme     Saliu Mustapha     Balogin Alanamu     Wasiu Onidugbe     Ella Supreme Tissue Paper     Adamu Atta     KWAFFA     Oke-Odo     Galadima     Umar Yakubu Jaja     Oluranti Idowu     Michael Nzwekwe     Taofik Abiodun Ahmed     Hamza Usman     Garment Factory     Ashiru     Mujtabah Bature     Sobi Hill     Rotimi Atere     Lanwa     Omotoso     Shonga Farm Project     Mope Dasuki Belgore     Olatunde Olukoya     IESA     Abubakar Imam     Ademola Kiyesola     NSCIA     Mahmud Ayinla Giwa     Ajike People Support Centre     Alikinla     Abdullahi AbdulMajeed     Metro Park     Mahe Abdulkadir     Oyun     Sulyman Abdulkareem     Fatimat Saliu     Jide Oyinloye     Apata Ajele Secondary School     UNIFEMGA     Makama Of Ilorin     Oke-Oyi     Okala Baba     Kwara State Polytechnic     Ibrahim Sulu Gambari     Hamidu Olowo     Simeon Ajibola     Fareedah Dankaka     Wahab Agbaje     Sulyman Age AbdulKareem     Ajibike Katibi     Millennium Development Goals     Harrison Osauwagboe     Mohammed Khadijat Kubura     Ilorin South Constituency     Alanamu     Sambo Murtala     Titus Suberu-Ajibola     Ayodele Olaosebikan