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.

Hydroelectric Power Producing Areas Development Commission     Otoge     Jalala     Air Peace     Simeon Ajibola     Abraham Ojo     Post Utme     Christopher Odetunde     Adamu Ibrahim Sabi     Ilorin General Hospital     Ilorin Anchor Men And Women     Jimoh Saadudeen Muhammed     Ahmad Fatima Bisola     Yakubu Danladi     Yakubu Mohammed Abdullahi     Baboko Primary School     Umaru Saro     Alfa Yahaya Road     Alapansapa     Ahmad Olanrewaju Belgore     Ambassador Kayode Laro     Ridhwanullah Al-Ilory     Abdulhakeem Amao     Salman Jawondo     Sobi     Ahmed Idris Mohammed     Siddiq Adebayo Idowu Salawu     Suwa-Arabs     Kumbi Titilope     Afetu Of Alabe     Barakat Community Secondary School     Ajayi Okasanmi     John Obuh     Saka Keji     Ramadan     Aliyu Umar     Kwara State Printing And Publishing Corporation     Alaiye     Abdullah Janet Amudat     Muhammed Akanbi     Hassan A. Saliu     Law School Scholarship     Ilorin Talaka Parapo     ER-KANG Mining     Gbemisola Oguntimehin     Abubakar B.M     Sulyman Tejidini     Omoniyi Ayinla     Alabi Lawal     2023 Elections     Bamidele Aluko     Tsaragi/Share     Bilikisu Oniyangi     Saad Omo Iya     Aiyedun     Yusuf Ibitokun Sherifat     Samuel Adaramola     Hamidat Sulyman-Yusuf     Benin Republic     Quareeb     Salaudeen Oyewale     Tinubu Legacy Forum     Iyabo Adewuyi     NIPOGA     Kola Olota     Garba Dogo     Bureau Of Lands     Ridwan Agboola     Saliu Oluwole     Idris Amosa Oladipo Saidu     Harrison Osauwagboe     Femtech     Oke-Ogun     Ilorin Metro Park     Muritala Olarewaju     Salary     MINILS    

Cloud Tag: What's trending

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

Damilola Yusuf Adelodun     Joseph Alex Offorjama     LAK Jimoh     Bilikisu Oniyangi     Tafida     Charles Ibitoye     Saheed Alakoso     Mahee Abdulkadir     Rafiu Olasile     Paul Olawoore     Kolo     Hassan A. Saliu     JMK Construction Company Limited     Moronfoye     Unilorin FM     JSSCE     Folashade Omoniyi     Ojo Isekuse     Vasolar     Isa Aremu     Harafat E. Mukadam     Olomu     A.E. Afolabi     Ayodele Shittu     Zulkifli Ibraheem     Kulende-UITH     Rex Olawoye     Rashidi Yekini     Eghe Igbinehi     Bareke     Asa LGEA School     Saka Onimago     Idris Garba     Salaudeen Oyewale     Ohoro Of Shao     Shuaibu Yaman Abdullahi     Sa\'ad Alanamu     Sabi     College Of Arabic And Islamic Legal Studies     Lateef Ademola Olatunji     Ronke Adeyemi     Olawuyi     General Hospital, Ilorin     Sa\'adu Gambari     Kwarareports.com     Abiodun Jacob Ajiboye     Garba Dogo     Trade Lenda SME Fair     Lanre Jimoh     Omar Gambari     Ayinde Oyepitan     Balogin Alanamu     Iyabo Dupe Adekeye     IsDB     Ridhwanullah Al-Ilory     AbdulRasaq Abdulmajeed Alaro     Abdulfatai Ahmed     Michael Nzekwe     Hijab     Ahman Pategi     Shade Omoniyi     Seni Saraki     Daud Adeshola     Kola Adesina     Ilorin Descendants Progressive Union     Okiki     Sunday Fagbemi     Kamoru Kadiri     Abdulmumin Yinka Ajia     Sambo Murtala     Igosun     Funmilayo Mohammed     Toyin Saraki     QuickWin     Frootify     Kwara State Infrastructure Development Fund     Fola Consultant