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.

Maja     Ilorin Durbar     Hamid Bobboyi     Kolawole Bashirat     AbdulRazaq Jiddah     Pius Abioje     Muhammad-Mustapha Suleiman     Abdulfatai Baakini     Abdulraheem Yusuf     Hauwa Nuru     Agor     ER-KANG     VADA     Abdullahi Saadudeen Alikinla     Yahaya Seriki Gambari     Sam Okaula     Col. Adedipe     Kwara Consultative Forum     Abdulrosheed Okiki     Ishaq Oloyede     Magaji Erubu     Congress For National Consensus     EndSARS     National Information Technology Development Agency     Justina Oha     Taofik Abdulkareem     Olatunji Ibrahim     Hussein Olokooba     Yusuf Amuda Abubakar     Mustapha Akanbi     Majlis For Sadakah, Zakat And Waqf     Saliu Oluwole     General Tunde Idiagbon International Airport Ilorin     Elerin Of Adanla     Doyin Awoyale     Abdulkareem Alabi     Muhammad Sirajo Aliyu     Ahmed Saidu Rufai     Ballah     Lanre Jimoh     Oluranti Idowu     International Aviation College     GGDSS Pakata     Mary Arinde     Jaiz Bank     Ilorin Descendants Progressive Union     Muhammad Toyin Sanusi     Dauda Adesola     Tunde Saad     KWAFFA     Quranic Recitation Competition     Lanre Badmus     Baaziki Sulaiman     Gafaru Olayiwola Olorisade     Saheed Akinwumi     Sidikat Akaje     Kamaldeen Gambari     Bolaji Nagode     Adisa Logun     Moses Rahman Popoola     Sarkin Malamai     Bio Ibrahim     Amos Justus Sayo     Mujtabah Bature     Gobir     Ajasse-Ipo     Eleja     Mahfouz Adedimeji     Yusuf Abdulkadir     Unilorin FM     Ilorin Airport     Plat Technologies     Gobirawa     Baba Issa     Ayeyemi Sulaiman     Seun Bolaji     ASUU    

Cloud Tag: What's trending

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

Femi Agbaje     Ahmed Saidu Rufai     Hamidu Olowo     Bayo Lawal     Baboko     National Information Technology Development Agency     Salihu Ajibola Ajia     Babatunde Idiagbon     Kwara     Aisha Ahman-Pategi     Kolo     Abdulquawiy Olododo     Lanre Badmus     Dairo Kunle Paul     Plat Technologies Limited     Afolabi-Oshatimehin Adenike Harriet     Dumagi     Harrison Osauwagboe     Okala Baba     Ike Ekweremadu     Ebun-Olu Adegboruwa     Musa Abdullahi     Bank Of Industry     Kwara State Governor     Erin-ile     Oladimeji Thompson     Siraj Oyewale     Doyin Group     Ella Supreme Tissue Paper     Usman Alkali Baba     JMK Construction Company Limited     Olomu     Shuaib Boni Aliyu     Issa Oloruntogun     Muslim Media Watch Group Of Nigeria     Yusuf Babatunde Abdulwahab     Gbenga Olawepo     Mashood Dauda     Mohammed Jimoh Faworaja     Kwara State Football Association     Timothy Akangbe     NITDA     Idowu Laro     Sheikh Ridhwanullah El-ilory     Ahmad Olanrewaju Belgore     Lanre Olosunde     Yinka Aluko     Elerin Of Adanla Irese     Igbomina     KwaraLearn     Code Of Conduct     Neo Mundo Ltd     Dauda Adesola     Okeose Christian Cementary     Deji Ajani     Emir Of Kano     Dogara     Yoonus Lawal     Bilikisu Oniyangi     Junior Secondary School Certificate Examinations     Transition Implementation Committee     Societe Generale Bank Of Nigeria     Bibire Ajape     Hajj     Saliu Alamoyo     Tafida Of Ilorin     Muideen Olaniyi Alalade     Ilorin Talaka Parapo (ITP)     Abdulrahman Iliasu     MAI Akande     VADA     Kwara Poly     Wasiu Onidugbe     Prince Bola Ajibola     Yusuf Lanre Badmus     Revenue Court     Jumoke F. Ajao