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.

Young Progressives Party     Olaiya Zuberu     Timothy Olatunde Fadipe     KWSUED     Abdulganiyu Salahudeen     Timothy Akangbe     Nupe     Suleiman Ajadi     Savannah Centre For Diplomacy, Democracy And Development     KWASAA     AbdulRauf Keji     Moro     Abdulkadir Orire     Abubakar Lah     Student Learning Support Helpline     Osinbajo     CUTI     Isin     Abdulrasheed Lafia     Idofin     Ayobami Akanbi     Ado Ibrahim     Amuda Bembe     Offa Metropolitan Club     Gobir     Mutawali     Ilorin Central Mosque     Jalala     RTEAN     Abdulmajeed Abdullahi     Kwabes     Abdulsalam A. Yusuf     Tafidan Kaiama     Oluwole Dupe     Gani Saadu     Jani Ibrahim     Mahmud Ayinla Giwa     A.O. Belgore     Ilorin Emirate Staff Association     IHS Towers     Mohammed Lawal Bagega     A.G.F Abdulrasaq     Iyabo Dupe Adekeye     Oloje     Saliu Mustapha     Adanla-Irese     Olaosebikan     Salihu Jibril Garbi     Afeyin-Olukuta     Saheed Alakoso     Mopelola Abdulmaliq-Bashir     Kwara University Of Education     Ebola     Jaigbade Alao     Garba Ayodele Wahab     Kwara 2019     EFCC     Yusuf Abubakar     Kayode Zubair     Ayeyemi Sulaiman     Yusuf Zulu-Gambari     Shuaib Boni Aliyu     NAWOJ     March 28     Abdulmutalib Shittu     2017 Budget     Ronke Adeyemi     Tosin Saraki     Agbarigidoma     Igosun     Kwara State Governor     Galadima     Moses Afolayan     Obayomi Azeez     Olateju Lukman     Senate President     Innocent Okoye    

Cloud Tag: What's trending

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

BECE     Rotimi Oyedepo     AbdulGaniyu Kareem     Tafidan Kaiama     National Pilot     Aso-ofi     Ahmed     Na\'Allah     Funmilayo Zubair     Afin Descendants Union Of Odo-Owa     Folaranmi Aro     Henry Makinwa     Simeon Ajibola     Abatemi Usman     Kayode Ishola     Aremu Odolaye     Gafaru Olayiwola Olorisade     Oke-Ogun     Facebook     Imodoye Writer’s Enclave     Ubandoma Of Ilorin     Bilikisu Gambari     Mohammed Danjuma     Lanre Issa Onilu     Sanusi Abubakar     Durosinlohun Kawu     Sola Saraki University     RTEAN     Abdullahi Biffo     Inside Kwara     Abdulwasiu Bolaji Adeyi     Owo Arugbo     Ado Ibrahim     Simeon Sule Ajibola     Ojuekun Sarumi     3MTT     Ajikobi     Kunle Akogun     Kazeem Oladepo     Ayobami Akanbi     Tescom.kwarastate.gov.ng     Sam Okaula     Ilorin Like-Minds     Yusuf Amuda Abubakar     Elections     Yekeen Alabi     Ndakene     IPSAS     Saad Omo\'ya     Sidikat Uthman Ajibola     Bankole Omishore     Bola Iyabo Ibiyeye Adisa     Young Progressives Party     Ope Saraki     Omupo     Suleiman Idris     Raymond Olaitan     Tayo Alao     Kamoru Kadiri     College Of Arabic And Islamic Legal Studies     Abdullateef Abdussalam     Osinbajo     Alabi Lawal     Oba Abdulkadir La\'aro     Bello Taoheed Abubakar     Kwara State Polytechnic     Ilorin Water Reticulation     Oke-Ode     Saka Keji     Overland     Oasis Muslim Care Foundation     Ayobami Seriki     Ilorin International Airport     Olabode Towoju     Earlyon Technologies     Ijakadi     Musa Abdullahi