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.

Ibrahim Taiwo     Kwara 2019     Idowu Aremu     Is\'haq Modibbo Kawu     Ijagbo Health Centre     Oladipo Akanmu Tolani     Tunji Olawuyi     Oke-Ogun     National Party Of Nigeria     Ilofa     Abdulhakeem Amao     Presidential Election     Ayodele Shittu     Ibrahim Oniye     Gobir     Nigerian Medical Association     Abdulmumin Yinka Ajia     Folorunsho Erubu     Bankole Omisore     Rice Farmers Association Of Nigeria     KWIRS     GGDSS Pakata     Elese Of Igbaja     AbdulRaheem Ahmad Shayi     Students Union Government     Sebastine Obasi     Abdulrahman Iliasu     Yakubu Gobir     Ayekale     Abiodun Musa Aibinu     Yusuf Ibitokun Sherifat     Muslim Cementary     Aiyedun     Jimba Babatunde     MAI Akande     Edu     Bukola Saraki     Abdulmajeed Abdullahi     Raliat AbdulRazaq     Bolaji Abdullahi     Boko Haram     Shonga     Abdulfatah Ahmed     Agor Market     Muhammad Sirajo Aliyu     Afolabi-Oshatimehin     National Information Technology Development Agency     Ekiti     Ohoro Of Shao     Bayo Onimago     Jide Ashonibare     Woro     Umar Gunu     Raymond Olaitan     Jeunkunu-Malete-Bani     Khairat Gwadabe     Tafida Of Ilorin     Surajudeen Akanbi     Hassan Saliu     Adeleke Ogungbe     Raji Ayodele Kamaldeen     Shuaibu Yaman     Patigi Regatta     Adedayo Yusuf Abdulkareem     Ilorin Emirate Stakeholders Forum     Kwabes     Ado Bayero     Mohammed Alabi Lawal     JAAC     T And K FOODS     Kamoru Kadiri     Alaaya     Olayinka Are     Zainab Abass     Hakeem Lawal     Valsolar Consortium     Sunday Fagbemi    

Cloud Tag: What's trending

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

Aliyu Kora-Sabi     Mahmud Ajeigbe     QuickWin     IYA ALFA NLA     Kaosarah Adeyi     AbdulHamid Adi     AbdulFatai Adeniyi Dan-Kazeem     Raji AbdulRasaq     Ahmed Ayinla Jimoh     Ilorin South     Idowu Laro     AbdulQowiy Olododo     Mashood Dauda     Ibrahim Orire     Taibat Ayinke Ahmed     AbdulGafar Tosho     AGILE Programme     African Democratic Congress     Simon Sayomi     Standard Organization Of Nigeria     UITH     Bello Oyedepo     Abdulhakeem Adelaja Amao     Yahaya Abdulkareem     Razaq Ayobami Akanbi     AbdulRahman Saad     Ilorin Amusement Park     Saka Keji     Bamidele Adegoke Oladimeji     Ramat Oganija     Baba Issa Awoye     Shettima     Issa Memunat Moyosore     Kupchi Hosea Maxwell     Abdulwahab Ololele     Government House     Neo Mundo Ltd     Tunji Arosanyin     Suleiman Rotimi Iliasu     Doyin Awoyale     Amos Justus Sayo     Dan-Kazeem     Isa Aremu     National Party Of Nigeria     Funmilayo Oniwa     Ubandoma Of Ilorin     Ayobami Seriki     Titus Ashaolu     Tunji Folami     Talaka Parapo     KWIRS     Oke-Odo     Raliat Elelu-Habeeb     General Hospital, Ilorin     Jide Ashonibare     Alabere     Sa\'adatu Modibbo-Kawu     Abikan     Peter Amogbonjaye     Saliu Ajibola Ajia     Olaitan Adefila     Rafiu Olasile     Ahmed Bolaji Nagode     GGDSS Pakata     SARS     Kulende-UITH     Kwara Metro Park     Okasanmi Ajayi     Modibbo Kawu     Illyasu Abdullahi     Kola Ologbondiyan     Offa Metropolitan Club     Kamoru Kadiri     Sherif Sagaya     Principal Private Secretary     Modupe Oluwole     Okin Group