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.

Kaosarah Adeyi     Amina El-Imam     Bello Taoheed Abubakar     Marafan Shonga     Baba-Isale     Oloye     Buari Edun     Kale Belgore     Kwara Central     07039448763     Temi Kolawole     Durosinlohun Kawu     Alore     Yomi Ogunsola     Bamidele Adegoke Oladimeji     Kunle Suleiman     Henry Makinwa     Kamaldeen Kehinde     Kazeem Oladepo     Yusuf A. Usman     PharmAccess Foundation     Radio Kwara     Ahmed Shuaib Buranga     Kwara Poly     Vasolar     International Public Sector Accounting Standards     Mope Dasuki Belgore     ASUU     Olanrewju Okanlawon Musa     Abdulrahman Abdulrazak     Code Of Conduct Tribunal     Dar-Al-Handasah Consultants     Sunset Workers     Oke-Ogun     Garment Factory     Economic And Financial Crimes Commission     Code Of Conduct     Ishola Balogun Fulani     Abubakar Olusola Saraki     Hijab     Kawu     Emir Of Lafiagi     Apaokagi     Sobi FM     Ejidongari     Alaiye     BIR     Kumbi Titilope     Otuka     KWSIEC     Sherif Sagaya     Agboola Babatunde     Oba David Oyerinola Adedunmoye     Eleja     Omoniyi     Assayomo     AGF Abdulrazaq     Patience Jonathan     Bilikis Oladimeji     Inside Kwara     Kamoru Kadiri     Bisi Kristien     Sunday Fagbemi     Rafiu Ibrahim     John Mayokun Dada     Adamu B. Yaqubu     Yakubu Shaaba     Nupe     Ita-Ore     Peculiar Allowance     Federal Polytechnic Offa     Umar Ahmed Gunu     Gurei     Lawan     M.Y. Abdulrahaman     Pakata     Yusuf Ali    

Cloud Tag: What's trending

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

Neo Mundo Ltd     Saidu Yaro Musa     Asa     Lawan     Makama Of Ilorin     Oke-Oyi     Bisi Kristien     Kulende     Adanla-Irese     Sa\'adu Gambari     James Kolo     Ohoro Of Shao     Bolaji Abdullahi     Read With Me     IHS     Quranic Recitation Competition     Shuaibu Yaman Abdullahi     Oke-opin     Wahab Olasupo Egbewole     Mohammed Ajia Ibrahim     Akume     Tafidan Kaiama     Moshood Kashimawo Abiola     Elesie Of Esie     AbdulGaniyu Kareem     Abiodun Musa Aibinu     NFAI     Cassava Growers\' Association     SSA Youth     Razaq Ayobami Akanbi     Adebayo Mohammed Kamaldeen     Alapansapa     Funmilayo Zubair     NIRSAL     Amuda Aluko     Police Commissioner     Isiaka Abdulrazak     Haliru Yahaya     Olota Of Odo-Owa     Muideen Olaniyi Alalade     Bolakale Ayo     Ahmed Idris Mohammed     Haleeman Salman     Metro Park     SWAN     Daud Adeshola     Theophilus Oyebiyi     Yusuf Amuda Gobir     Ibrahim Akaje     Galadima     Alabi Lawal     Oba Of Jebba     Elections     Alanamu     Makama     Simeon Sule Ajibola     Agboola Babatunde     Ayedun     Olupako Of Share     Zainab Abass     Aliyu Muhammad Saifudeen     Assayomo     Abdulsalam Firdaous Amosa     Abdulhakeem Adelaja Amao     Simeon Ajibola     Magaji Are     Rex Olawoye     Musa Yeketi     Hauwa Nuru     The Herald     Mohammed Lawal     Moses Adekanye     Okala Baba     Idris Amosa Saidu     11th Galadima     Geri-Alimi Split Diamond Interchange     Tanke