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.

Oko Erin     Jawondo     Shehu Adaramaja     Charcoal     Yahya Mohammed     Abdulraheem Yusuf     Bola Magaji     Abubakar Suleiman     Olatomiwa Williams     Musa Aibinu     Kwara State Internal Revenue Service     SWAN     Ophthalmological Society Of Nigeria     Quran     Laboratory-to-Product     Mohammed Yisa     Kunle Akogun     Sheu Ndanusa Usman     Abdulkadir Orire     National Party Of Nigeria     Oba Of Jebba     Ifelodun     Aremu Bose Deborah     Kolo     Gani Saadu     AbdulRazaq AbduMajeed Alaro     Musa Ayinla Yeketi     Na\'Allah     Sam Okaula     Yemi Sanni     A.O. Belgore     HICA     Oju Ekun Sarumi     Abubakar Ndakene     Gbugbu     Tinubu Legacy Forum     Abdulazeez Uthman     Adekunle David Dunmade     Ola Falade     AGILE Programme     Ita-Ore     Opobiyi     Baba Issa     Ajibola Ademola Julius     Ibrahim Akaje     Dapo Teni Nig Enterprise     Iyabo Dupe Adekeye     Saka Isau     Musa Alhassan Buge     Congress For National Consensus     Kwara 2023     ITEM 7     CACOVID Palliatives     Sayomi     Kola Adesina     Titus Suberu-Ajibola     Egbejila     Aremu Odolaye     National Pilot     Akorede     Abdulmutalib Shittu     Saka Abimbola Isau     Muhammad Akande Olarewaju Odunade     Oro Grammar School Old Students Association     Isiaka Danmeromu     Aishat Sulu-Gambari     Aminat Ahmed     Balogun-Ojomu     ASUU     Justina Oha     Junior Secondary School Certificate Examinations     Yakubu Mohammed Abdullahi     Ilorin Amusement Park     Oloje     Jelili Yusuf     Yusuf Aiyedun     Olatunji Ayeni    

Cloud Tag: What's trending

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

Waziri Yakubu Gobir     Riskat Opakunle     Sobi     March 28     CT Ayeni     Olabode George Towoju     Muazam Nayaya     Ibrahim Abduquadri Abikan     Busari Toyin Isiaka     Kwara State Internal Revenue Service     Markaz Arabic And Islamic Training Institute, Agege     Nigerian Army     Countryside Emerging Leaders Fellowship     ARMTI     Olupako     Moshood Kashimawo Abiola     Atunwa     Idris Amosa Saidu     Admiralty Villa     Lanre Aremu     Sa\'adu Salahu     Azeez Bello     Abdulrosheed Okiki     Kale Bayero     Mohammed Katsina Ahmed     Alapado     Musa Alhassan Buge     Otunba Taiwo Joseph     Alliance For Democracy     CCT     Emir Of Yashikira     Ibrahim Akaje     Noah Yusuf     Nurudeen Mohammed     Abdulganiy Abimbola Abdussalam     Prince Bola Ajibola     Ilorin Muslim Community     Jimoh Olusola Imam     Moses Afolayan     NITDA     Seun Bolaji     Issa Memunat Moyosore     Atiku Abubakar     Ganmo     Kwara North     Gabriel Fashanu     Prince Sunday Fagbemi     Kwara State Sports Commission     Olaiya Victor Mobolaji     Emir Of Lafiagi     IYA ALFA NLA     Bola Ahmed Tinubu     Code Of Conduct Tribunal     Yusuf Aiyedun     Lawal Jimoh     Oba Abdulkadir La\'aro     All Peoples Party     NIPOGA     Ishak Mohammed Sabi     Royal FM     Gbenga Awoyale     Al-Adaby     Bola Shagaya     Dan Masanin     Bluenile Associates     LEAH Charity Foundation     KWASEIC     Oladipo Akanmu Tolani     Ilofa     Lawal Arinola Kudirat     Abdulrazaq Solihudeen     Ilorin Central Mosque     Abdullah Janet Amudat     Dauda Adesola     Umar Ayinla Saro     Oba-Solagberu     Adeleke Ogungbe