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.

Kwara State Fire Service     Alaro     Sulaiman Gado     Temitope Ogunbanke     Obuh     National Party Of Nigeria     Emir Of Yashikira     Muhammed Akanbi     Mohammed Saidu     Kaosarah Adeyi     Ajibike Katibi     Ahmed Bolaji Nagode     Chemiroy Nigeria Limited     Ahmed Mohammed Rifun     Omoniyi     Sanusi Abubakar     Rapheal Ashaolu     Daud Adeshola     Umar Danladi Shero     Saidu Kawu     Arandun     Abdulhakeem Amao     Frootify     Mazars Consulting     Hausa     Sun Qing Rong     Musbau A. Akanji     Neuropsychiatric Hospital     Abdulkadir Bolakale Sakariyah     Sarah Jubril     Samuel Adedoyin     Medinat Folorunsho Salman     Iyabo Adisa Ibiyeye     Owu Fall     Council Of The Wise     Alliance For Democracy     Saka Abimbola Isau     Abdulrahman Onikijipa     Offa Metropolitan Club     Local Government     Tunde Mukaila Mustapha     Simeon Ajibola     International Vocational Centre     Muhammed Taofeeq Abdulrazaq     Bio Ibrahim     Sunday Otokiti     Soffiyyallah Kamaldeen     Arinola Lawal     Sambo Murtala     National Information Technology Development Agency     Admiralty Villa     Abdulrahman Iliasu     Samuel Elizabeth Keatswa     Joana Nnazua Kolo     Timothy Olatunde Fadipe     Alaaya     Dan-Kazeem     Magaji Nda     Maryam A. Garuba     Centre For Community Empowerment And Poverty Eradication     Yoonus Lawal     Abdullahi Saadudeen Alikinla     Saheed Popoola     Kola Adesina     A.G.F Abdulrasaq     Niyi Osundare     Akande Idowu Ayoola Muhammed     Toyin Sanusi     Lai Mohammed     CCEPE     Olokoba Sulyman     Michael Ologundea     Asa     Jebba     Communication Network Support Services     Kwarareports.com     Hassan A. Saliu    

Cloud Tag: What's trending

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

Lawal Arinola Kudirat     Babs Iwarere     Akande Idowu Ayoola Muhammed     NURTW     Kwara 2023     Sun Qing Rong     MalHub     Mary Arinde     Kwara State Football Association     Valsolar     Magaji Erubu     Ayobami Seriki     Razaq Atunwa     Temitope Ogunbanke     Emir Of Lafiagi     Adedayo Yusuf Abdulkareem     C2c@kwarastate.gov.ng     Ajidagba     Salau Kabiru Abdullahi     Akanbi-Oke     Ahmed Shuaib Buranga     Ajakaye     Mohammed Ghali Alaaya     Obasanjo     Toyin Olayinka Tejidini     Oyedepo     Jimoh Lambe Abdulkareem     KWSUED     Ibrahim Taiwo Road     Prince Mahe Abdulkadir     HAMFAT Clinic And Maternity     Adolescent Girls Initiative For Learning And Empowerment     IPSAS     Danladi     SGBN     Akeem Lawal     Tunde Yusuf     Guber Aspirant     Balogun Fulani     Twitter     Saad Omo\'ya     Yusuf Abdulwahab     Abraysports FC     Mike Omotosho     Ilorin South     Kazeem Gbolagade     Bello Bature     Dumagi     Ajuloopin     David Adesina     Baba Adini Of Kwara State     Opolo Global Innovation Limited     Orisa Bridge     Akorede     Fatai Olodo     Umar Yakubu Jaja     Ishola Abdullahi     Danhawa     Muhammed Aliyu     Balogun Gambari     Razak Atunwa     Sulyman Tejidini     Ballah     Amoyo     Olawuyi     Muyiwa Oladipo Kanu     Usman Rifun     Ayotunde Emmanuel Alao     Kwara-SAPZ Project     ENetSuD     Okin Group     New Naira Notes     Rihanat Ajia     Abdulkadri Ahmad Alaiye     Victor Gbenga Yusuf     Olofa Of Offa     Abubakar Aliagan