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.

T And K FOODS     Umar Bayo Abdulwahab     ER-KANG     Hajj     Wahab Kunle Shittu     Nnazua     Awoye     Gbugbu International Market     Students Union Government     College Of Education     Kwara Consultative Forum     Lawan     Ahmad Lawan     Orire     Olomu     Prince Bola Ajibola     Tunde Kazeem     Cornelius Fawenu     Sunday Otokiti     Sayomi     Na\'Allah     Abdulkadir Bolakale Sakariyah     Isiaka AbdulRazaq     Dogara     MINILS     National Broadcasting Commission     Kwara TV     Sarakite     Colleges Of Education Academic Staff Union     Eleja Taiwo Banu     Kayode Zubair     Coalition Of Kwara North Groups     CACOVID Palliatives     Sobi Specialist Hospital     Omupo     Abdullahi Imam Abdullahi     Raliat Elelu-Habeeb     Abdulmumini Jawondo     Ilorin Muslim Community     Olateju Lukman     Kpotum Mohammed Baba     Code Of Conduct Bureau     Kayode Alabi     Olam Food Ingredients     John Kehinde Salako     AbdulRahman Saad     Ramadan     Saad Omo Iya     Ishaq Abdulkarim     HAMFAT Clinic And Maternity     CCB     Hikmah AbdulKareem     Babaita     Yakubu Gobir     Nurudeen Mohammed     Ajibike Katibi     Kwara State Coalition Of Business And Professional Associations     Abdulazeez Uthman     Village Alive Development Association     Gbadeyan Gbadura Yomi     University Road     Sun Qing Rong     Yekini Adio     Oniwa     Sebastine Obasi     Ishaq Salman     Senate President     Sheikh Ridhwanullah     Bisi Kristien     Femi Agbaje     Abdul-Rahoof Bello     Ibrahim Mohammed     Prince Mahe Abdulkadir     Owode Market     Zubair Folorunsho Erubu     Ambassador Kayode Laro     TVC Female National Debate    

Cloud Tag: What's trending

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

Alfa Modibbo Belgore     Olatunji Moronfoye     Mohammed Ajia Ibrahim     Senate Presidency     Pakata Patriots     Sheikh Ridhwanullah El-ilory     REO CAKES     Awoye     Guber Aspirant     Hikmah AbdulKareem     Charles Ibitoye     Olatunji Ayeni     National Union Of Road Transport Workers     Tafida Of Kaiama     Shuaib Boni Aliyu     Nigerian Correctional Service     Risikat Lawal     Kwara North     AIT Ilorin     Gbajabiamila     Alfa Yahaya Road     Offa Poly     Abubakar Aliagan     Waziri Yakubu Gobir     Hussein Olokooba     Kumbi Titiloye     Musa Aibinu     Oloruntoyosi Thomas     Oro Grammar School     Moji Makanjuola     Ademola Kiyesola     Abdulmumin Yinka Ajia     Abdulganiyu AbdulAzeez     Binta Abubakar-Mora     Mohammed Saidu     Kawu     Kwara Liberation Group     Adedeji Onimago     Usman Yunusa     Yunus Lawal     Rotimi Atere     Osuwa     Idris Garba     Abdulmutalib Shittu     AbdulRaheem Ahmad Shayi     Maryam Ado Bayero     Assayomo     Imodoye Writer’s Enclave     ENetSuD     C2c@kwarastate.gov.ng     Okoolowo     Kwara South     Emir Of Yashikira     Code Of Conduct Bureau     Computer Based Test     AbdulRahman Saad     Student Learning Support Helpline     Abiodun Abdulkareem     Budo Egba     Olatunji Abdulmumeen     Otunba Taiwo Joseph     Tunde Idiagbon Road     Shaaba Lafiagi     Kunbi Titiloye     Haliru Yahaya     ITEM 7     Alapansapa     Abdulkadir Remi Hawawu     Gbenga Adebayo     Ibrahim Gambari     Aliyu Olatunji Ajanaku     Halimah Perogi     Justina Oha     Amuda Bembe     Isiaka Rafiu Mope     Olaiya Victor Mobolaji     SSA Youth