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.

Popo-Igbonna     Bareke     Michael Ologundea     Kwara Polytechnic     Tunji Olawuyi     Apaokagi     Zainab Abass     Ibrahim Agboola Gambari     Azeez Salawu     Yusuf Aiyedun     Sulyman Age AbdulKareem     Universal Basic Education Commission     Pategi     Jumoke Monsura Gafar     Air Peace     Akande Idowu Ayoola Muhammed     Onilu     Ajikobi     James Kolo     Funmilayo Braithwaite     Ilorin West/Asa Federal Constituency     Baba Isale     Yahaya Seriki     Emir Of Lafiagi     Kayode Ogunlowo     Elelu     Shaykh Luqman Jimoh     Olabode George Towoju     Aliyu Kora Sabi     Nigerian Army     Stephen Fasakin     Saadatu Modibbo-Kawu     Alliance For Democracy     Salami Adekunle     Saidu Yaro Musa     Share/Tsaragi     Awwal Jawondo     Kola Shittu     Modibo Kawu     Ilorin Descendants Progressive Union     Dan Masanin     Omu-aran     Omar Bolaji Gambari     Olabode Towoju     Abubakar Baba Sulaiman     Ibrahim Bio     Dauda Adesola     Musbau A. Akanji     Quranic Recitation Competition     Basit Olatunji     Otuka     Sunday Popo-Ola     Mahmud Babatunde Baker     Yahaya Abdulkareem     Opobiyi     Olaiya Zuberu     Aliyu U. Tilde     Shururat Olatinwo     Christopher Tunji Ayeni     Federal Polytechnic Offa     Waziri Yakubu Gobir     Bisi Oyeleke     Ejidongari     Labour Party     Solomon Edoja     Opaleke Bukola Iyabo     Offa Metropolitan Club     Hassanat Bello     Folajimi Aleshinloye     Mashood Dauda     Abdulkadir Bolakale Sakariyah     Mamman Saba Jibril     Yusuf Abdulwahab     Suleiman Abubakar     Playing Host     Ilorin Airport     Apaola    

Cloud Tag: What's trending

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

Alabi Olayemi Abdulrazak     Mary Arinde     Charles Ibitoye     KWASAA     EFCC     Ilorin Emirate Staff Association     Garba Ayodele Wahab     John Mayokun Dada     Ilorin East     Abdulkadir Remi Hawawu     Laboratory-to-Product     Muslim Media Watch Group Of Nigeria     Ganiyu Abolarin     Mopelola Abdulmaliq-Bashir     Shagari     Third Estate     Abdulwasiu Bolaji Adeyi     Ilesha-Baruba     Minister     Local Government     Sarakite     Bisi Oyeleke     Isiaka Rafiu Mope     Baba Isale     Olugbense     Ibraheem Adeola Katibi     Kazeem Adekanye     Wahab Abayawo     Dairo Kunle Paul     Yahaya Abdulkareem     Monthly Sanitation     Mahfouz Adedimeji     Clara Nwachukwu     Justina Oha     Yusuf Ibitokun Sherifat     College Of Education     Ibrahim Jawondo     Asiwaju Bola Tinubu     Ilorin General Hospital     Yusuf Babatunde Abdulwahab     Saba Jibril     Suleiman Alege Kuranga     Olusin Of Ijara Isin     Owo Arugbo     Offa Poly     Sarah Jubril     Ajakaye     Adebayo Salami     Muhammed Mahe Abdulkadir     Alfa Yahaya Road     IHS Towers     ANCOPPS     Yekeen Alabi     Sobi FM     Kudirat Arinola Lawal     Umar Gunu     Kwara Polytechnic     Police Commissioner     Alaro     Moshood Kashimawo Abiola     Asa     Oyeyemi Olasumbo Florence     Umar Yakubu Jaja     Ope Saraki     Aisha Abodunrin Ibrahim     Joseph Daudu     Abdulrazaq Sanni     Turaki     Balogun Fulani     Aminu Adisa Logun     Ita-Ore     Onilu     Ambassador Kayode Laro     NNPP     Jalala     Hassanat Bello     Salmon Babatunde Salmon