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.

ASMAU PLAZA     Sheu Ndanusa Usman     Yakub Lai Gobir     Mohammed Katsina Ahmed     Abdullahi Biffo     Durosinlohun Kawu     Local Government Pension Board     Aishatu Ahmed Gobir     Halimat Yusuf     Shonga Farm Project     Haleeman Salman     Sardauna     Suleiman Idris     Abdul-Rahoof Bello     Ladi Hassan     GAMA     Oniyangi Kunle Sulaiman     Al-Adaby     Babaloja-General     Obuh     Shoprite     Segun Adeniyi     Mopelola Abdulmaliq-Bashir     Rice Farmers Association Of Nigeria     Muhammed Mahe Abdulkadir     Hydro-electric Power Producing Areas Development Commission     Sheikh Hamzat Yusuf Ariyibi     AbdulRazaq Jiddah     Kayode Ibrahim     Muhammadu Buhari     Moshood Bakare     Sadiq Umar     Bisi Kristien     Aishat Sulu-Gambari     Awwal Jawondo     Demola Banu     Code Of Conduct Bureau     Kisira     Omu Aran     Abdulrazaq Adebayo     Oyawoye     Shehu Jimoh     Saadatu Modibbo-Kawu     Ibrahim Labaika     Sabo-Oke     SSUCOEN     Bola Shagaya     Yaman     Ibrahim Kayode Adeyemi     Sheriff Olanrewaju     Titus Suberu-Ajibola     Yomi Adeboye     Wahab Isa     Monkey Pox     Oba Abdulraheem     Raimi Iyanda     Imodoye Writer’s Enclave     Road Transport Employers Association Of Nigeria     Gobir     08001000100     Dagbalodo     Adanla-Irese     Ajibola Ademola Julius     Bashirat Bola Bello     Ahmed Idris Mohammed     Apaola     Abikan     Sheikh Ridhwanullah     Dauda Adesola     Abdulrazak Shehu Akorede     Rabiu Kwankwaso     Hakeem Idris     Balogin Alanamu     Ibrahim Agboola Gambari     Aisha Buhari     Olokoba Abdullahi Ayinla     Ayobami Akanbi    

Cloud Tag: What's trending

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

Sulyman Tejidini     Kwara State Printing And Publishing Corporation     Adamu Jemilat-Baki     Fatai Adeniyi Garba     Ajia-Bako     Owo Isowo     Post Utme     Rachael Obisesan     Iyiola Oyedepo     Towobola Abdulrahman Toyin     Ganmo Electricity Sub-Station     Kwara State Sports Commission     Ayedun     CKNG     Jamiu Oyawoye     Risikat Lawal     Chemiroy Nigeria Limited     Ganiyu Abolarin     Shehu Raheem Adaramaja     Park     Mufti Of Ilorin     SGBN     Atiku Abubakar     Amusa Bello     Principal Private Secretary     Mike Omotosho     Hauwa Nuru     MMWG     Michael Imoudu National Institute For Labour Studies     Alimi Abdulrazaq     AbdulGafar Tosho     Mohammed Ibrahim     Tunde Oyawoye     Samuel Adaramola     Olusin Of Ijara Isin     Abdulrahman Onikijipa     Umar Gunu     Abdulrahman Abdulrazak     Jaiz Bank     08001000100     Firdaos Amasa     Eghe Igbinehi     Samuel Olusegun Adedayo     Oba Of Jebba     Hussein Olokooba     Amasa     CELF     Taibat Ayinke Ahmed     Segun Abifarin     Gbugbu International Market     AbdulGaniyu Kareem     Federal Polytechnic Offa     Kayode Ishola     Raliat Elelu-Habeeb     Islamic Development Bank     Abdulbaqi Jimoh     Kunle Akogun     Olaiya Victor Mobolaji     Alabi Lawal     Kwara State Fish Farmers Association     Mary Kemi Adeosun     Okanlawon Taiwo     Bankole Omisore     David Adesina     Adam Abdullahi Al-Ilory     Saheed Alakoso     Eleyele     Isiaq Khadeejah     Ahmad Olayiwola Kamaldeen     Olawuyi     Halimah Perogi     Hausa     Oke-Kura     Abdulwaheed Musa     KWATMA     Busari Toyin Isiaka     Sheikh Ridhwanullah