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.

Taibat Ayinke Ahmed     Taofeek Ibraheem     Prince Sunday Fagbemi     Rice Farmers Association Of Nigeria     V.O. Abioye     Na\'Allah     Funmilayo Zubair     Elerinjare-Ibobo     PAACO-PCL Consortium     Ganiyu Abolarin     Mashood Dauda     Babaloja-General     NNPP     Funmilayo Mohammed     National Party Of Nigeria     Amos Justus Sayo     Yekini Adio     Bashirat Bola Bello     Nigeria Governors\' Forum     Kale Belgore     Vishvas KOZ Tractors     Mahee Abdulkadir     JSSCE     Yusuf Mubarak     A.O. Belgore     Kwara Primary Health Care Development Agency     Kwara State Council Of Chiefs     NIPR     Alliance For Democracy     Sunday Fagbemi     Kisra     Maigida Soludero Transit     Towoju     Babatunde Ajeigbe     Arinola Lawal     Okala Baba     Abdulrahman Onikijipa     Omupo     Sulyman Buhari     Lasiele Alabi Yahaya     UNIFEMGA     Christopher Tunji Ayeni     Habeeb Saidu     Dan Iya     Muideen Olaniyi Alalade     Principal Private Secretary     Magaji Erubu     Gbugbu     Ayobami Seriki     Sherif Sagaya     Eleyele     Ilorin Emirate     Alabere     Aisha Ahman-Pategi     Muhammed Akanbi     HYPPADEC     Abdulbaqi Jimoh     Abiodun Oyedepo     Oba Abdulkadir La\'aro     Cassava Growers\' Association     Rafiu Olasile     Muslim Cementary     Emir Of Kano     Minister     James Kolo     Micheal Imodu-Ganmo Road     Sardauna Of Ilorin     Igosun     Funmilayo Isiaka Oniwa     Jimoh Saadudeen Muhammed     Taofik Abiodun Ahmed     Bayo Onimago     Young Progressives Party     Air Peace     Sadiq Buhari     Jimba Babatunde     Galadiman Ngeri    

Cloud Tag: What's trending

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

Funke Adedoyin     Suleiman Alege Kuranga     3MTT     Victor Gbenga Yusuf     Olatunji Ayeni     Olabode George Towoju     Sobi     Alfa Modibo Belgore     Association Of Kwara State Online Media Practitioners     Kupchi Hosea Maxwell     Balogun Fulani     NSCIA     Titus Ashaolu     Amuda Bembe     Maryam A. Garuba     Onilorin Of Ilorin     AGM Professional Services     Allocation     Riskat Opakunle     Monkey Pox     Lawan     Ajidagba     Issa Memunat Moyosore     Rafiu Ibrahim     Moses Adekanye     Osinbajo     Hassan Abdulazeez Elewu     Muideen Olaniyi Alalade     CKNG     UNILORIN Alumni     Suraj Tunji Oyewale     SAPZ Project     Kwarareports     Erin-ile     Isapa     Ahman Pategi     Nupe     Bayo Ajia     Kayode Alabi     Sheikh Ridhwanullah El-ilory     Aisha Gobir     Abdullahi Adisa Akodudu     Kwara State Fire Service     Bola Ahmed Tinubu     Odogun Olushola Gabriel     Zubair Folorunsho Erubu     Lola Ashiru     Mahmud Ayinla Giwa     20 Billion Bond     Isiaka Alikinla     Moji Makanjuola     Wasiu Odewale     Yusuf Olaolu Ali     General Hospital, Offa     Oniyangi     Halimah Perogi     Baba Issa     Erubu     Abubakar Lah     Samuel Adaramola     Olubukola Kifayat Adedeji     Code Of Conduct     Kwara State Pension Board     Okin Biscuit     Maigida Soludero Transit     TESCOM 2025     Sabo-Oke     Gabriel Fashanu     Abdulrazaq Solihudeen     Tayo Awodiji     Mike Omotosho     Ilorin Amusement Park     Olohungbebe     Taibat Ayinke Ahmed     Logun     LAK Jimoh     Moshood Mustapha