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.

Aro Yahaya     Sabi     Taofeek Ibraheem     Olokoba Sulyman     Baruba     George Innih     Temi Kolawole     Funmilayo Braithwaite     Economic And Financial Crimes Commission     Village Alive Development Association     Emir Of Lafiagi     Saheed Akinwumi     KWACOBPA     Ishak Mohammed Sabi     ER-KANG     Ogidi-Oloje     Olam Food Ingredients     Umar Gunu     Suleiman Mora Omar     Oba Mogaji Abdulkadir     Funmilayo Zubair     Abdulsalam A. Yusuf     AbdulGafar Tosho     Dan Iya     Ilorin Curfew     Offa Metropolitan Club     Abdulwaheed Musa     Sulu Gambari     LAK Jimoh     Issa Memunat Moyosore     Bayer AG     Aliyu Kora-Sabi     Musa Abdullahi     Presidential Election     Okanlawon Musa     Bola Ahmed Tinubu     Mary Arinde     Kayode Bankole     Adebayo Salami     Salaudeen Oyewale     Olupako Of Share     Saadu Yusuf     Federal Polytechnic Offa     Yekini Adio     Elelu     Ilorin Durbar     Shuaib Abdulkadir     Ayo Opadokun     Maryam Ado Bayero     Chief Imam Of Lafiagi     Ambassador Kayode Laro     MINILS     Earlyon Technologies     Mohammed Halidu     SSUCOEN     Aiyedun     Irepodun     Kola Adesina     Federal College Of Education (Special), Afon     Bello Taoheed Abubakar     Oyawoye     Kola Olota     Flights To Ilorin     Dankaka     Local Government Pension Board     Abdulrazaq Adebayo     IHS     Gbajabiamila     Muslim Cementary     Imam Gambari     Patigi Regatta     Belgore     TVC Female National Debate     Yusuf Abdulraheem     Mary Kemi Adeosun     Abdulrahman Abdulrazaq     NYSC    

Cloud Tag: What's trending

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

Lola Ashiru     Ali Ahmad     Idris Garuba     Nigerian Correctional Service     Owo Arugbo     Christopher Odetunde     Hamidu Olowo     Alore     Mary Arinde     Abdulrahman Abdullahi Kayode     Rapheal Ashaolu     Moshood Kashimawo Abiola     Idofin     Muazam Nayaya     Alao Ayotunde     T And K FOODS     Okanlawon Taiwo     Moses Adekanye     Abdulganiyu Oladosu     Joseph Yemi Ajayi     Razak Atunwa     Iyabo Dupe Adekeye     Oasis Muslim Care Foundation     Segun Abifarin     Inside Kwara     Olugbense     Mutawali     Oladipo Akanmu Tolani     Laolu Saraki     SWAN     Amuda Aluko     Ayedun     Bolakale Ayo     Isau     Ogidi-Oloje     Apata Ajele Secondary School     A.E. Afolabi     Shaaba Lafiagi     Bank Of Industry     James Kolo     Shuaib Olarongbe     Saka Asiat Ayinke     Jide Ashonibare     Mustapha Akanbi     Tunde Saad     Tafida     Yusuf Arowosaye     Ayegbeni     Third Estate     Quran     Muhammad Sirajo Aliyu     Jamila Bio Ibrahim     Najim Yaasin     Kisira     EFCC     Adamu Attah     Muhammed Abdullahi     Kayode Yusuf     Presidential Election     Mahmud Durosinlohun Atiku     Osinbajo     Mahmud Ayinla Giwa     Abdulkadir Jimoh     Yomi Ogunsola     Okin High School     Ike Ekweremadu     CACOVID Palliatives     KWATMA     Dar-Al-Handasah Consultants     08001000100     Rabiu Kwankwaso     Bola Iyabo Ibiyeye Adisa     Balogin Alanamu     SARS     Isiaka Abdulrazak     ARMTI     Nigeria Computer Society