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.

United Nigeria Congress Party     Sidikat Uthman Ajibola     Taofeek Ibraheem     Kolo     Olaoye B. Felix     Tsaragi     Oke-Ero     Yoonus Lawal     Omotosho     Tafida     Emmanuel Olatunji Adesoye     Countryside Emerging Leaders Fellowship     Ramadhan     Ayoade Akinnibosun     Saheed Akinwumi     Ajibola Saliu Ajia     Kwara State Sports Commission     Dan-Kazeem     Ademola Kiyesola     Government High School Adeta     Owu Fall     Musa Yeketi     Ilorin Amusement Park     Mamatu Abdullahi     Noah Yusuf     Salman Jawondo     Eleyele     SAPZ Project     Innocent Okoye     Abdulrosheed Okiki     Mahmud Durosinlohun Atiku     Adanla-Irese     Ahmed Alhasssan     Ejidongari     Obasanjo     March 18     Isau     Abubakar Olusola Saraki     Sam Okaula     Jaigbade Alao     Musa Alhassan Buge     Abdulganiyu Oladosu     Mohammed Alabi Lawal     Assayomo     CELF     Quarry Royal Valley     Charcoal     NaAllah     Jebba     Kwara 2023     Yahaya A Paniyaro     Usman Rifun     David Adesina     Mohammed Danjuma     Umar Yakubu Jaja     Abdulrazaq Aiyelabegan     Kwara South     Olatunji Moronfoye     Muhammed Danjuma     Adesina Simon Sodiya     Ibrahim Abdullahi     Dar-Al-Handasah Consultants Ltd     Kale Bayero     Valsolar Consortium     Gbemisola Oguntimehin     Ado Bayero     AbdulRauf Keji     Tunji Ajanaku     Budo-Egba     Oko Erin     Wale Oladepo     AbdulHakeem Ajibola Akanbi     Ghali Muhammed     Ibraheem Adeola Katibi     Ibrahim Bio     Ijakadi     Oke-Oyi    

Cloud Tag: What's trending

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

Ibrahim Kayode Adeyemi     Www.Kwarareports.com     Taofik Abdulkareem Babaita     AbdulHakeem Ajibola Akanbi     TESCOM 2025     Abdulrosheed Okiki     Waziri Yakubu Gobir     Kwara Metro Park     Ambassador Kayode Laro     Salihu Ajia     Matthew Okedare     Kemi Adeosun     Turaki Of Ilorin     Ado Ibrahim     Mohammed Saidu     Eleyele     Raliat Islamic Foundation     Taiwo Joseph     Admiralty Villa     Iyabo Adewuyi     Oyelere Oyinloye     Abubakar Olusola Saraki     Colleges Of Education Academic Staff Union     Kwarareports     Odo-Owa     Ojuekun Sarumi     Village Alive Development Association     Press Release     Lawal Jimoh     Clara Nwachukwu     Khairat Gwadabe     Orisun Igbomina     Yemi Sanni     Abatemi Usman     Razaq Atunwa     Oke-Ero     Kwara State Polytechnic     Yashikira     Adijat Adebiyi     Kwara State Coalition Of Business And Professional Associations     Kolawole Akande     Abdulmajeed Wahab     Yusuf Olaolu Ali     Leke Ogungbe     Olufolake Abdulrazaq     Olaosebikan     Ilorin Curfew     Moses Adekanye     Femi Oladiji     Sherif Sagaya     Samuel Adaramola     High Court     National Broadcasting Commission     Chief Imam Of Offa     Chemiroy Nigeria Limited     Popo-Igbonna     Saidu Kawu     Aliyu Muhammed     Modibo Kawu     Jide Ashonibare     Gurei     HYPPADEC     Plat Technologies Limited     Oniwa     Taofik Abiodun Ahmed     Adegoke Bamidele     Unilorin     2023 Elections     Aliyu Kora Sabi     Sardauna Of Ilorin     Muslimah Entrepreneurship Forum     HAMFAT Clinic And Maternity     Osi     Valsolar Consultoria     AIT Ilorin     ER-KANG     Muhammed Abdullahi