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.

Abdullahi G. Mohammad     Amule     Wahab Femi Agbaje     Yinka Aluko     UTME     Tafidan Kaiama     Bayo Ajia     Idowu Aremu     Amuda Aluko     Oke-Odo     Shuaibu Yaman Abdullahi     Niyi Osundare     Raliat Islamic Foundation     Kwara State Health Insurance Agency     Yusuf Amuda Aluko     Shao     Freshvine Nigeria Limited     Jimoh Saadudeen Muhammed     Abubakar Abdullahi Bata     Micheal Imodu-Ganmo Road     Azeez Salawu     Sango-UITH Road     Olusin Of Ijara Isin     Aminat Ahmed     Tafida Of Kaiama     Olomu     Kwara State Printing And Publishing Corporation     Nigeria Association Of Women Journalists     Split Diamond Interchange     Kola Bukoye     Eruku     Unilorin     Dauda Adesola     Minister     Erubu Oba Zubair     Old Oyo     Shonga Farm Project     HYPPADEC     Theophilus Oyebiyi     Abubakar Olusola Saraki     Babaita     Hassan A. Saliu     Teachers Specific Allowance     Bashir Badawi     Senate President     Muslim Cementary     Hamza Usman     Ilorin     Ibraheem Adeola Katibi     Atiku     Ibrahim Sulu Gambari     Abdulmumini AbdulRazaq     Ilesha-Baruba-Gwanara     Aliyu Muhammed     Kwara Muslim Pilgrims Welfare Board     Kabir Shagaya     Aliyu Alhassan     Olabode George Towoju     Umar Adelodun     Suraj Tunji Oyewale     Village Alive Development Association     Oyeyemi Olasumbo Florence     Yahaya Abdulkareem     Shuaib Boni Aliyu     Universal Basic Education Commission     Haliru Dantoro     Siraj Oyewale     Muideen Olaniyi Alalade     Kulende-UITH     Bolaji Aladie     James Kolo     Offa Descendants Union     Abdulkarim Adisa     Saka Onimago     SARS     Sam Onile     Elerin Of Adanla    

Cloud Tag: What's trending

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

Raimi Iyanda     Nigerian Supreme Council For Islamic Affairs     Share-Tsaragi     Yekini Adio     Mohammed Saidu     Hydro-electric Power Producing Areas Development Commission     Onikijipa     Nigerian Correctional Service     Omar Gambari     Olusegun Adeniyi     Mohammed Lawal     Jelili Yusuf     Sheriff Olanrewaju     Ohoro Of Shao     EndSARS     Nigerian Medical Association     Muideen Olaniyi Alalade     Chikanda     Mumeen Lah     Senate Presidency     Toyin Falola     Kuliyan Geri     Khairat Gwadabe     Baba Isale     Albert Ogunsola     ER-KANG Mining Nigeria Company Limited     Kwara State Television (KWTV)     Local Government     Sa\'adatu Modibbo-Kawu     Aliyu Kora Sabi     Henry Makinwa     Hikmah AbdulKareem     Barakat Community Secondary School     Lasiele Alabi Yahaya     Mike Omotosho     Afonja     Adanla-Irese     Kwara South     Sa\'ad Alanamu     Taofik Abdulkareem     Photo News     Ekiti     Lanre Issa Onilu     Ekweremadu     Magaji Erubu     Lawal Jimoh     Mutawali Of Ilorin     Garment Factory     Elekoyangan     Veterinary Teaching Hospital     Lawan     PPS     Damilola Yusuf Adelodun     RTEAN     Idi-Ape     Mohammed Halidu     Abdulwahab Ololele     Ubandawaki     Muslimah Entrepreneurship Forum     Oke-Ogun     Moses Rahman Popoola     Abdulkadir Akanbi-Oke     Balogun Fulani     Peter Obi     COEASU     Edu     Abdullahi Dasilva Yussuf     Isiaka Alikinla     All Confederation Of Principals Of Secondary Schools     CUTI     Siraj Oyewale     Isiaka Abdulrazak     Olabode Towoju     Dar-Al-Handasah Consultants Ltd     Curfew     Sabi     Baba Adini Of Kwara State