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.

Lafiagi     Aisha Buhari     Olaosebikan     Henry Olaosebikan     Abdulfatai Salman Baakini     Salau Kabiru Abdullahi     Ayo Salami     Dauda Adeniran Adeshola     Toyosi Thomas     Falokun-Oja     Onilorin     Saliu Alamoyo     Mahmud Ayinla Giwa     Local Government Pension Board     Olatunji Abdulmumeen     Emir Of Kano     Bareke     Bibire Ajape     New Nigeria People’s Party     Saidu Yaro Musa     Osi     Yakubu Gobir     Olatinwo     Olatomiwa Williams     Mopelola Abdulmaliq-Bashir     Adamu Atta     Ilorin General Hospital     Azeez Salawu     Bluenile Associates     Ajikobi     AbdulRazaq Abubakar Jiddah     Babatunde Ajeigbe     Amule Elementary School     Ado Ibrahim     Esinrogunjo     Yekini Adio     Abdulkadir Bolakale Sakariyah     Samuel Adaramola     PharmAccess Foundation     Kudirat Arinola Lawal     Yusuf Badmus     Kayode Ogunlowo     Abdullahi Samari     AbdulFatai Adeniyi Dan-Kazeem     Isiaka Oniwa     KSIRS     Ilorin Emirate Staff Association     Aisha Ahman-Pategi     Jimoh Lambe Abdulkareem     Musibau Akanji     Abubakar Ndakene     Simeon Sule Ajibola     Ejidongari     Yeketi     S.O. Opowoye     Katibi Ibraheem Adeola     Valsolar-Kwara Company Limited     Ganmo Electricity Sub-Station     ANCOPPS     Shettima Of Ilorin     Mutawalle     Omoniyi     Mazars Consulting     Toyin Olayinka Tejidini     Overland     Agboola Babatunde     Sunday Popo-Ola     Iyabo Dupe Adekeye     Saheed Popoola     Zulu Gambari     Lawan     Issa Baba     Abdulrasheed Na\'Allah     Afusat Nike Ibrahim     Lukman Adeloyin     Olawuyi     Roseline Oni Aremu    

Cloud Tag: What's trending

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

Abioye Bello     Kwara Hotel     Binta Abubakar Mora     Mohammed Khadijat Kubura     Balogin Alanamu     Mansurat Amuda-Kannike     Opobiyi     Issa Baba     Rebecca Bake     Bello Abubakar     Okanlawon Taiwo     CKNG     Mashood Abdulrafiu Agboola     Turaki     Kwha.gov.ng     Mohammed Katsina Ahmed     Marafan Shonga     Kale Ayo     Garment Factory     Bisi Kristien     Suleiman Abubakar     Shade Omoniyi     Akeem Lawal     Ita-Nmo Market     KWACOBPA     QuickWin     Ilesha-Gwanara     Funmilayo Oniwa     Trade Lenda SME Fair     Kwara State Health Insurance Agency     Garba Ayodele Wahab     Kwara Pdp     Suleiman Mora Omar     Victor Gbenga Yusuf     Kwara State Fire Service     Jaiz Bank     Goodluck Jonathan     Madawaki Of Ilorin     SWAN     Matthew Babaoye     Ebola     David Oyedepo     New Nigeria People’s Party     Abdulkadir Bolakale Sakariyah     Halimah Perogi     Mohammed Jimoh Faworaja     Olusin Of Ijara Isin     Shagari     College Of Health     Akume     Khadijat Ayoola Yusuf     08001000100     Elese Of Igbaja     KwaraLearn     Aremu Bose Deborah     Falokun-Oja     Aliyu Alhassan     Saidu Kawu     Alao Ayotunde     Salihu Ajia     George Innih     Elerinjare     Lukman Oyebanji Fagbemi     Baruba     Wahab Issa     Aliyu U. Tilde     Ogbondoroko     Shonga Farm Project     Joseph Daudu     Elections     Omoniyi Ayinla     Monkey Pox     Kupchi Hosea Maxwell     Government Girls’ Day Secondary School Pakata     Ilorin Talaka Parapo     Maigida     Sarah Alade