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.

Oba Abu     Tanke Road     Fatai Adeniyi Garba     Salihu Ajibola Ajia     Sardauna     Aliyu Muhammad Saifudeen     Lafiagi     Cornelius Adebayo     Abdulrasaq Alaro     Aishat Mohammed Lawal     Olayinka Jelili Yusuf     Okiki     Niyi Ogundiran     Olayinka Oladapo Jogunola     Ahmed Dankaya     Joshua Adeyemi Adimula     Salihu Ajia     GANZY     Mumini Ishola Hanafi     CLAY POT     Olokoba Abdullahi Ayinla     Egbewole     Oba Abdulkadir La\'aro     AGM Professional Services     Bayo Onimago     Suleiman Alege Kuranga     Dairo Kunle Paul     Hussein Olokooba     Fareedah Dankaka     Ilorin Central Mosque     Mubarak Oladosu     Segun Abifarin     Ilorin Like-Minds     Muhammed Mahe Abdulkadir     Saheed Alakoso     Kwara State Branch Of The National Library     Hakeem Lawal     Muritala Awodun     Adamu B. Yaqubu     Universal Basic Education Commission     CCT     Maigida     Mohammed Tunde-Jimoh     A.G.F Abdulrasaq     Zainab Abass     Mopelola Abdulmaliq-Bashir     Benin Republic     Abdulraufu Mustapha     Forgo Battery     Valsolar Consultoria     Noah Yusuf     Ilorin Water Reticulation     Oya State     Kuliyan Geri     Paul Olawoore     Press Release     Democracy Day     Asiwaju Bola Tinubu     Colleges Of Education Academic Staff Union     Senior Ibrahim Suleiman     Musa Abdullahi     Pakata     Chartered Institute Of Personnel Management Of Nigeria     Aiyedun     Gurei     Marafan Shonga     EFCC     Arca Santa     Ben Duntoye     Fatimah Abdulkadir     Haliru Yahaya     Joseph Yemi Ajayi     Wakilin Mata Lafiagi     New Nigeria People’s Party     Sobi Hill     Demola Banu     Alapado    

Cloud Tag: What's trending

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

TESCOM 2025     IQRA College     ASKOMP     Saeedat Aliyu     Ahmed Bolaji Nagode     Olaitan Adefila     Chief Imam Of Offa     Demola Banu     Muyideen Ajani Bello     Hijab     Kwarareports.com     Kwara Primary Health Care Development Agency     Amos Bajeh     Irepodun     Photo News     Bashiru Makama     Shehu Adaramaja     CCT     Turaki     Alabere     Iyeru Grammar School     Kwara State Polytechnic     Ibrahim Abiodun     Boko Haram     Sulyman Buhari     Isiaka Yusuf     Balikis Jawondo     Christopher Ayeni     Moronfoye     Assayomo     Ogidi-Oloje     Summit University     Rueben Parejo     Umar Adelodun     Oke-Oyi     Gafaru Olayiwola Olorisade     Olosi Of Osi     Ilorin General Hospital     Oloje     Mohammed Ajia Ibrahim     Saka Asiat Ayinke     Bola Magaji     Dapo Teni Nig Enterprise     A.E. Afolabi     Erubu     Oloye     Yunus Lawal     Bashirat Bola Bello     Tunji Olawuyi     Timothy Akangbe     Tsaragi-Share     Sheikh Ridhwanullah     Lukman Adeloyin     Buari Edun     School Of Nursing     HAMFAT Clinic And Maternity     Habeeb Abdullahi Al-Ilory     Muhammadu Buhari     Abatemi-Usman     Societe Generale Bank Of Nigeria     Orisun Igbomina     Balogun Fulani     LABTOP     Adaramaja     Najim Yaasin     Olatunji Moronfoye     Lateef Alagbonsi     Abdulmumin Yinka Ajia     Ahman Pategi University     Ibrahim Bio     Esinniobiwa Quareeb     Olatunji Ibrahim     Sodiya     Olota Of Odo-Owa     Abdulrazaq Aiyelabegan     Hussein Olokooba     Aisha Ahman-Pategi