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.

M.Y. Abdulrahaman     Gbemisola Oguntimehin     Ekweremadu     Pakata Patriots     National Information Technology Development Agency     Kaiama     Yahaya Muhammad     IF-K     Ahmed Ayinla Jimoh     Aremu Bose Deborah     Balogun Gambari     Muhammed Aliyu     Folorunsho Alao     Olatunji Abdulmumeen     Kale Ayo     Oba David Oyerinola Adedunmoye     Ajeigbe     Emir Of Kano     Veterinary Teaching Hospital     AGM Professional Services     Okasanmi Ajayi     Amuda Aluko     Aso-ofi     Ridhwanullah Al-Ilory     Maimunat Oniyangi     Amos Sayo     Yakubu Danladi     Femi Oladiji     Niguel Gallando Marcias     Magaji Erubu     Yekini Adio     Shade Omoniyi     Jaigbade Alao     Bola Magaji     Usman Rifun     Olaoye B. Felix     Saidu Yaro Musa     Bolaji Aladie     AGF Abdulrazaq     MATTA Girls Foundation     Abdullahi Atanda     Ladi Hassan     Afeyin-Olukuta     IEDPU     Adaramaja     HYPPADEC     Eghe Igbinehi     Abdullateef Abdussalam     Kanu Agabi     Frootify     Is\'haq Modibbo Kawu     Oloye     Bolakale Kawu Agaka     Esinrogunjo     Bashir Omolaja Bolarinwa     Lucky Omoluwa     CACOVID     Lawal Arinola Kudirat     Abdulganiyu AbdulAzeez     Lanre Badmas     Ajasse-Ipo     Offa Metropolitan Club     Col. Taiwo     Y.A. Abdulkareem     Doyin Awoyale     Alanamu     Park     Shehu Jimoh     Bamidele Adegoke     Kwara State Branch Of The National Library     Shagari     Muhammad Akande Olarewaju Odunade     NIPOGA     Matthew Babaoye     AbdulHakeem Ajibola Akanbi     Elerin Of Adanla     Eghe Igbinehin    

Cloud Tag: What's trending

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

Iqra Books     Mazars Consulting     Mohammed Ajia Ibrahim     IDPU     Moronfoye     Sabi     Olayinka Jelili Yusuf     Musa Aibinu     Gobir Organization Foundation     Muhammad Akande Olarewaju Odunade     Kwara State Branch Of The National Library     Lithium     CACOVID     Olatunde Jare     Kwara Metro Park     Yaman     Sa\'adatu Modibbo-Kawu     Saheed Alakoso     Sarah Jubril     Ilorin General Hospital     Gafaru Olayiwola Olorisade     Elerin Of Adanla     Just Law Forum     Monkey Pox     Abdulkadir Jimoh     Ilorin Emirate     Jaiz Bank     Ilota     Rachael Obisesan     Amina El-Imam     Mike Omotosho     Arinola Lawal     Trader Moni     Popo-Igbonna     PAACO-PCL Consortium     Jamiu Oyawoye     Katibi Ibraheem Adeola     Solomon Edoja     Bashir Omolaja Bolarinwa     Yusuf Amuda Abubakar     Mopelola Abdulmaliq-Bashir     Sarkin Malamai     Share     Iyiola Oyedepo     Abdulganiyu Oladosu     Lanre Badmas     Abdulazeez Arowona     Samuel Adedoyin     Jimba Babatunde     Taofik Abdulkareem     Afolabi-Oshatimehin     Maja     Adeniyi Ojo     Alabi Olayemi Abdulrazak     Omu-aran     Taofeek Sanusi     Sa\'adu Salahu     Amina Susa\'a De Ahmed     Kannike     Lanre Issa-Onilu     Abdulganiyu Salahudeen     Umar Adelodun     Oloyede     Haliru Yahaya     Bello Bature     Ajase-Ipo     Lanre Badmus     Timothy Olatunde Fadipe     Razaq Ayobami Akanbi     Yunus Oniboki     Abiodun Musa Aibinu     Sardauna     Abdulrazaq Aiyelabegan     Moremi High School     Sherif Shagaya     Quareeb Islamic Association     Susan Modupe Oluwole