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.

Www.Kwarareports.com     JAAC     Prince Sunday Fagbemi     Haliru Dantoro     Noah Yusuf     Sheikh Hamzat Yusuf Ariyibi     Press Release     Iyaloja-General     Emir Of Shonga     Ahmed     Bola Sagaya     George Innih     Yusuf Ibitokun Sherifat     Iyiola Oyedepo     Jimoh Olusola Imam     Saad Belgore     Aishatu Ahmed Gobir     Elelu     Hajj     Henry Makinwa     Usman Alkali Baba     Shuaibu Yaman Abdullahi     Oke-Kura     Col. Adedipe     Moshood Kashimawo Abiola     Yusuf Babatunde Abdulwahab     Suleiman Rotimi Iliasu     Abdulganiyu Salahudeen     Lasiele Alabi Yahaya     Olubukola Kifayat Adedeji     Maimunat Oniyangi     Funmilayo Oniwa     Kunbi Titiloye     Federal Road Maintenance Agency     Oke-opin     Ahmed Alhasssan     Abdulrazaq Sanni     ITEM 7     Osinbajo     Idris Amosa Saidu     KWASIEC     Razaq Ayobami Akanbi     Mohammed Yahaya Barki     Jumoke Gafar     Ibrahim Oniye     Abiodun Abdulkareem     Sunday Fagbemi     Kwara 2019     BIR     Erin-ile     Pakata     Shonga     National Information Technology Development Agency     Jamila Bio Ibrahim     Abdullahi Adisa Akodudu     Government High School (GHS), Adeta     Alfa Belgore     Rebecca Bake     Idowu Aremu     Suleiman Idris     Shola Odetundun     Kwarareports.com     Taofik Abiodun Ahmed     Joshua Adeyemi Adimula     Laolu Saraki     Atiku Abubakar     Ifelodun     Lafia Aliyu Korasabi     Abdulrauf Yusuf     Idris Garba     Muhammad Yahya     Jimoh Bashir     Ile Arugbo     Funmilayo Mohammed     CCB     Kwara Volleyball Association     Ogidi-Oloje    

Cloud Tag: What's trending

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

Yemi Sanni     Simeon Sayomi     Bureau Of Lands     Eruku     Basit Olatunji     Kolo     Shehu Salau     Yusuf Badmus     Elese Of Igbaja     Bolaji Abdullahi     Abdulbaqi Jimoh     Aisha Ahman Pategi     Oloyede     Ajayi Okasanmi     Funmilayo Mohammed     Muhammad Fawaz Abubakar     Azeez Salawu     Nigerian Medical Association     Ayo Salami     Prince Sunday Fagbemi     Tanke Flyover Bridge     Alabi Lawal     Modupe Oluwole     Just Event Online     Revenue Court     COVID-19 Palliatives     Chemiroy Nigeria Limited     Tunji Arosanyin     Ilorin Emirate Stakeholders Forum     Kunle Okeowo     Olateju Lukman     Sunset Workers     Adeniyi Ojo     Fareedah Dankaka     Ethical College     Yetunde Balogun     Eleja Taiwo Banu     Esinrogunjo     Boko Haram     Ilorin West/Asa Federal Constituency     Azeez Bello     Ope Saraki     Arandun     Olabode George Towoju     Modibbo Kawu     Razak Atunwa     Ilesha-Baruba     Basic Education Certificate Examination     Gbenga Olawepo     Lanre Badmas     Amoyo     Shao     Abioye Bello     Ishola Abdullahi     Mutawali Of Ilorin     Shonga Farm Project     Saba Jibril     Saudat Abdulbaqi     Ibrahim Abdulkadir Abikan     Alore     Ilorin Like-Minds     Ophthalmological Society Of Nigeria     Edu     Mufutau Olatinwo     Jimoh Bashir     Tricycle Owners Association Of Nigeria     Muhammed Abdullahi     Bola Sagaya     Mohammed Tunde-Jimoh     Raliat Islamic Foundation     Riskat Opakunle     Shuaibu Yaman Abdullahi     Abdulahi Abubakar Bata     REO CAKES     Olubukola Kifayat Adedeji     Bursary     George Innih