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.

Nigerian Army     Shonga Farm Project     Bukola Ajikobi     Salaudeen Oyewale     Gbugbu International Market     Kamaldeen Gambari     National Union Of Road Transport Workers     Crystal Corner Shops     ARMTI     IHS Towers     Ayedun     Maimunat Oniyangi     Ajikobi     AbdulGaniyu Kareem     Baba Adini Of Kwara State     Yusuf Ibitokun Sherifat     Muhammad Ghali Alaaya     Ilorin Airport     Memunat Monsuma     Chief Imam Of Offa     Akeem Olatunji     Chief Imam Of Ilorin     Ishak Mohammed Sabi     Waheed Ibrahim     Wahab Abayawo     Olaiya Lawal     AbdulQowiy Olododo     Dan Iya Of Ilorin     Simeon Sayomi     Arik     Abubakar B.M     Hydroelectric Power Producing Areas Development Commission     Oladimeji Thompson     Kuliyan Geri     Raji Ayodele Kamaldeen     Yunus Oniboki     UNIFEMGA     Musa Ayinla Yeketi     Talaka Parapo     Lanwa     Olaiya Zuberu     Abiodun Musa Aibinu     Chief Imam Of Lafiagi     College Of Health     Shaaba Lafiagi     Lafiagi     Wasiu Onidugbe     Abdullahi Atanda     Kwara Restoration Project     Tunji Folami     Babatunde Ishola Babaita     Government High School (GHS), Adeta     Asa LGEA School     Samari     Victor Gbenga Yusuf     Sulyman Tejidini     Adeleke Ogungbe     Computer Based Test     Majlis For Sadakah, Zakat And Waqf     Ridhwanullah Al-Ilory     ITP     Olatunde Michaels     Nigerian Correctional Service     Yahaya A Paniyaro     Sunday Fagbemi     Tunde Yusuf     Kemi Adeosun     College Of Arabic And Islamic Legal Studies     Idris Garuba     Tinubu Legacy Forum     Gafaru Olayiwola Olorisade     Albert Ogunsola     Ahmed Bayero     Kupchi Hosea Maxwell     Mopelola Abdulmaliq-Bashir     Demola Banu     Sun Qing Rong    

Cloud Tag: What's trending

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

Tricycle Owners Association Of Nigeria     KwaraLearn     Ayedun     Ahmad Uthman     Nigeria Customs Service     March 18     Adamu Ibrahim Sabi     Saidu Yaro Musa     Yakub Ali-Agan     Modibo Kawu     Olam Food Ingredients     Tsaragi-Share     UITH     Just Event Online     Aliyu Olatunji Ajanaku     Aisha Ahman-Pategi     Agor     Facebook     HYPPADEC     National Information Technology Development Agency     Kwha.gov.ng     Zara Umar     Busari Toyin Isiaka     Abdulmutalib Shittu     Shonga Farm Project     Chief Of Staff     Ganmo Electricity Sub-Station     Nigeria Association Of Women Journalists     Unilorin FM     Taofik Mustapha     Idowu Aremu     Vishvas KOZ Tractors     Mustapha Olanipekun     National Pilot     Emmanuel Olatunji Adesoye     Okedare     Sardauna Of Ilorin     Alabi Lawal     Shettima     T And K FOODS     Yoonus Lawal     Sheriff Olanrewaju     Bursary     Code Of Conduct Bureau     Femi Agbaje     Aisha Ahman Pategi     AbdulGafar Tosho     Col. Ibrahim Taiwo     Rasaq Jimoh     Oloruntoyosi Thomas     Chief Imam Of Ilorin     Tunji Olawuyi     Ilorin Curfew     CKNG     Halimah Perogi     Iyiola Oyedepo     Alore     Adebayo Mohammed Kamaldeen     Joseph Daudu     Countryside Emerging Leaders Fellowship     Apaola     Aliyu U. Tilde     Arinola Fatimoh Lawal     Igbaja     Ebun-Olu Adegboruwa     Kamaldeen Gambari     Kuliyan Geri     Post-utme     Yakubu Dogara     Ilorin West     Jumoke Monsura Gafar     Saheed Alakoso     Senior Special Assistant On Student Affairs     Afolasade Opeyemi Kemi     Bio Ibrahim     COEASU     Ilesha-Baruba-Gwanara