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.

Umar Yakubu Jaja     Read With Me     Olawuyi     Ilorin Emirate Staff Association     Isiaka Oniwa     Moshood Bakare     Raimi Iyanda     Segun Ogunsola     Emir Of Shonga     Overland     Joana Nnazua Kolo     Ayeyemi Sulaiman     Age AbdulKareem     Funmilayo Oniwa     Salmon Babatunde Salmon     Oba Abdulkadir La\'aro     Sulaiman Gado     Shoprite     Ganmo Power Sub-Station     Muhammed Danjuma     NITDA     Ibrahim Oloriegbe     Tunji Oyawoye     Tanke Road     Bayo Mohammed Onimode     Kwarareports.com     Iyabo Adewuyi     Oyeyemi Olasumbo Florence     Mustapha Olanipekun     Durbar Festival     Yahaya Seriki Gambari     Olaiya Lawal     Iqra Books     Frootify     Salihu Ajibola Ajia     Markaz Arabic And Islamic Training Institute, Agege     Kola Shittu     ER-KANG Mining Nigeria Company Limited     Hameed Oladipupo Ali     Olumide Daniel Ibitoye     Shururat Olatinwo     Hassan Abdulazeez Elewu     Adamu Ibrahim Sabi     Ministry Of Women Affairs And Social Development     Saliu Oluwole     Adebara     Ibrahim Taiwo     Aliyu U. Tilde     Yahaya Dumoye     Elelu     Yusuf Abubakar     Quarry Royal Valley     Universal Basic Education Commission     Nigerian Correctional Service     Gbenga Awoyale     COVID-19 Palliatives     Ojo Fadumila     David Oyerinola Adedunmoye     Sa\'adu Salau     Mogaji Aare     Ahmed Mohammed Rifun     Emir Of Ilorin     Sulu Gambari     Adamu B. Yaqubu     Adedeji Onimago     Bankole Omisore     Yusuf Abdulkadir     Aliyu Sabi     Yusuf Arowosaye     Gobir Organization Foundation     Ronke Adeyemi     Hamidat Sulyman-Yusuf     Al-Adaby     Umar Ahmed Gunu     Oyin-Zubair     Ubandoma Of Ilorin     Wahab Issa    

Cloud Tag: What's trending

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

Ojuekun Sarumi     Budo-Egba     Lanre Badmas     General Tunde Idiagbon International Airport     Mukhtar Shagaya     Ibrahim Abiodun     Police Commissioner     Bola Magaji     Ibrahim Jawondo     Chief Imam Of Offa     Haliru Dantoro     Saudat Abdulbaqi     Ahmed Mohammed Rifun     Sabo-Oke     Laduba     Tayo Awodiji     FERMA     Ilorin Emirate Stakeholders Forum     Segun Olawoyin     UNIFEMGA     Pius Abioje     New Nigeria People’s Party     Saliu Ajibola Ajia     Bayo Mohammed Onimode     Olatunji Ibrahim     Daud Adeshola     Old Oyo     Oke-Ogun     Abdullahi Dasilva Yussuf     Joana Nnazua Kolo     AbdulRahman Saad     Abdulkadir Akanbi-Oke     Bond     Olanrewju Okanlawon Musa     Bankole Omisore     Trader Moni     Ahmed Saidu Rufai     Muhammed Akanbi     Hydroelectric Power Producing Areas Development Commission     Abdul Jimoh Mohammed     Shehu Adaramaja     Ifelodun     Musa Yeketi     Shoprite     Women Radio     RTEAN     Alagbado     New Model Police Station     Lawyers Unite Against Corruption     IEDPU     Olaiya Zuberu     Temi Kolawole     Dagbalodo     Odolaye Aremu     Olaoye B. Felix     Olawuyi     Funmi Salau     Rapheal Ashaolu     Ayegbeni     Olumide Daniel Ibitoye     Shaykh Luqman Jimoh     Elerinjare     Olomu Of Omu-Aran     Salihu S. Yaru     Logun     Kwasu     Yusuf Amuda Abubakar     Isin     Shuaibu Yaman Abdullahi     Saliu Tunde Bello     Suwa-Arabs     Yeketi     AbdulRauf Keji     Hauwa Nuru     Kayode Oyin-Zubair     Femi Gbajabiamila     Aliyu Adebayo