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.

Muhammad Fawaz Abubakar     Gbugbu     Yusuf Amuda Abubakar     Amina El-Imam     Ilorin General Hospital     Saka Isau     Olatunde Michaels     Public Holiday     Rafiu Ajakaye     Kayode Bankole     Mubarak Oladosu     Abdulmajeed Wahab     Folorunsho Erubu     Aliyu Muhammad Saifudeen     Monsurat Omotosho     Sheriff Olanrewaju     Mansur Alfanla     Baba Adini Of Kwara State     Babaloja-General     Senate Presidency     Dele Belgore     Split Diamond Interchange     Kuliyan Geri     Nagode     Raliat AbdulRazaq     Offa Descendants Union     Bature Bello     Yusuf Aiyedun     KWSIEC     BIR     Kale Ayo     Gurei     Ndakene     Clara Nwachukwu     IF-K     CELF     Adeola Abraham     Mohammed Haruna     Chief Imam Of Offa     University Road     Law School Scholarship     Doyin Group     Abdulraufu Mustapha     UTME     Umar Saro     Dairo Kunle Paul     Shehu Alimi Foundation For Peace And Development     Magaji Erubu     Sola Saraki University     Kazeem Gbolagade     ITEM 7     Musbau A. Akanji     Yusuf Badmus     Onilorin Of Ilorin     NURTW     Arca Santa     Sunday Otokiti     Musa Yeketi     Yomi Ogunsola     Mahmud Babatunde Baker     Bank Of Industry     Seni Saraki     Funmilayo Mohammed     Ibrahim Orire     Lafiagi     Trader Moni     Centre For Community Empowerment And Poverty Eradication     Offorjama     Oba David Oyerinola Adedunmoye     Ahmad Olanrewaju Belgore     Kwara State Football Association     Kwara State Geographic Information Service     Akande Idowu Ayoola Muhammed     Hameed Oladipupo Ali     Apaokagi     Oloye     Ejidongari    

Cloud Tag: What's trending

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

Iliasu     Arandun     Awili Pedro     Mufti Of Ilorin     Sun Qing Rong     Femi Gbajabiamila     Mahee Abdulkadir     Yahaya Oloriegbe     Abdulganiyu AbdulAzeez     Grillo     Salman Jawondo     Oba-Solagberu     Muhammad Mustapha Suleiman     IYA YUSUF     Aminu Ado Bayero     Adaramaja     Kwara South     Ibrahim Orire     Yemi Sanni     JSSCE     Abdulhakeem Amao     Abdulmumini Jawondo     NIPOGA     Amusa Bello     Abdulwahab Ololele     Oniyangi     Irepodun     Jamila Bio Ibrahim     Saka Abimbola Isau     Mazars Consulting     Bamidele Aluko     Monsurat Omotosho     Kayode Ogunlowo     Abdulrauf Yusuf     Busari Toyin Isiaka     Yahaya Seriki Gambari     Jumoke F. Ajao     Tayo Alao     Zulu Gambari     Suraj Tunji Oyewale     Adedeji Onimago     Awwal Jawondo     Samuel Adaramola     TVC Female National Debate     Adeola Abraham     Share-Tsaragi     KSIRS     Oladimeji Thompson     Gbenga Awoyale     Ilesha-Gwanara     John Kehinde Salako     Oko Erin     Dele Belgore     Mohammed Khadijat Kubura     Edu     CT Ayeni     Ghali Alaaya     Isiaq Khadeejah     Musa Ayinla Yeketi     Kwara Polytechnic     Ibrahim Bio     Royal FM     Ubandoma Of Ilorin     Tunji Moronfoye     Adesina Simon Sodiya     Kwara Muslim Pilgrims Welfare Board     Alapado     Abubakar Suleiman     Col. Ibrahim Taiwo     Saka Saadu     Old Oyo     Aminat Omodara     Rebecca Olanrewaju     Pakata     Ilesha-Baruba     Nigerian Supreme Council For Islamic Affairs     Amos Bajeh