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.

Maryam Nurudeen     Yusuf Amuda Abubakar     Ilorin South     Jalala     Yusuf Abdulkadir     Voices Of Tomorrow     Adam Abdullahi Al-Ilory     Kumbi Titiloye     Sa\'ad Alanamu     Revenue Court     Orisun Igbomina     Zulu Gambari     Lawal Arinola Kudirat     Ilorin Emirate Stakeholders Forum     Computer Based Test     GAMA     Chief Imam Of Offa     Oko-Erin     Gobirawa     Olusin Of Ijara Isin     KWSUED     Sunday Fagbemi     Emir Of Ilorin     IDPU     Salaudeen Oyewale     Florence Saraki     Kwara 2015     Ibrahim Bio     Bello John Olanrewaju     Offa Poly     Government High School (GHS), Adeta     Adanla-Irese     Christopher Ayeni     HAMFAT Clinic And Maternity     Y.A. Abdulkareem     Kaosarah Adeyi     Tafida     Arinola Lawal     Medview Airlines     Muslim Stakeholders Of Kwara State     Magaji Erubu     Abdulfatah Ahmed     Danhawa     Olohungbebe     Ahmed Bayero     Prince Bola Ajibola     Isa Aremu     Balogun Fulani     New Nigeria People’s Party     Wasiu Onidugbe     Funmilayo Oniwa     Quarry Royal Valley     Kwara NIPR     Baboko     Saad Belgore     KFA     AGF Abdulrazaq     Ogbondoroko     Ishola Moses Abiodun     Sidikat Akaje     Yahaya Abdulkareem Babaita     Majlis For Sadakah, Zakat And Waqf     Ambassador Kayode Laro     Rebecca Olanrewaju     George Funsho Adebayo     Ilorin.Info     Magaji Are     Sa\'adatu Modibbo-Kawu     Gbemisola Saraki     Sulyman Atolagbe Alege     Kayode Zubair     Alagbado     Fatimah Abdulkadir     Ohoro Of Shao     Public Holiday     Amina El-Imam     Bankole Omishore    

Cloud Tag: What's trending

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

Salman Suleiman     Ojuekun     Ibrahim Bio     Biliaminu Aliu     Sheikh Hamzat Yusuf Ariyibi     Abikan     Kulende-UITH     Facemasks     Basit Olatunji     Abdulfatai Ahmed     Onilu     Yusuf Lawal     Mohammed Jimoh Faworaja     Dan-Kazeem     EFCC     Gbajabiamila     Police Commissioner     Orisun Igbomina     Olatunji Ayeni     CCT     Kola Bukoye     Bareke     Ajase-Ipo     Ilorin Emirate     AbdulRazaq Jiddah     Jimoh Akani     Mohammed Haruna     Mohammed Yisa     Kayode Alabi     Just Law Forum     SAPZ Project     Mahmud Durosinlohun Atiku     Moses Adekanye     Dankaka     Abdulazeez Arowona     Abubakar Abdulraheem     Rueben Parejo     Abdulmumini Jawondo     Omotoso Musa     Moses Rahman Popoola     Bashir Badawi     Alimi     Ibrahim Mohammed     Yusuf A. Usman     Taofik Abdulkareem Babaita     Tinubu Legacy Forum     Sulaiman Gado     Razaq Ayobami Akanbi     Odo-Owa     Turaki Of Ilorin     Aliyu Alhassan     Grillo     Firdaos Amasa     Reuben Paraje     Is\'haq Modibbo Kawu     Unicontinental Construction Company     Ahman Pategi     Arca Santa     Sam Onile     Kamoru Kadiri     Sheikh Ridhwanullah El-ilory     Oyedepo     Kayode Ishola     Babata     Old Oyo     Yusuf Abdulwahab     Okin Biscuit     Rebecca Bake     Abiodun Jacob Ajiboye     Balogin Alanamu     Kemi Adeosun     Abdulrauf Aliyu     Ita-Ore     Baaziki Sulaiman     CCEPE     Doyin Agbamu     Aminu Ado Bayero