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.

Yunus Oniboki     Valsolar Consultoria     Kwara Apc     Quranic Recitation Competition     Basic Education Certificate Examination     Ishola Abdullahi     Garba Idris Ajia     Aliyu Olatunji Ajanaku     Tope Daramola     Oyawoye     Offa     Bilikis Oladimeji     Salihu S. Yaru     Neuropsychiatric Hospital     Bashir Badawi     Tosin Saraki     Lithium     Funmilayo Mohammed     Ashiru     Ahmed     Standard Organization Of Nigeria     Bello Oyedepo     Lanre Issa-Onilu     Rotimi Atere     HAMFAT Clinic And Maternity     Kayode Ishola     Mohammed Lawal Bagega     Kamoru Kadiri     Adamu Jemilat-Baki     Samuel Adaramola     CCB     Ahmad Uthman     Kawu     Kabir Shagaya     Elerin Of Adanla Irese     Dar-Al-Handasah Consultants Ltd     Timothy Akangbe     Aso-ofi     Local Government     20 Billion Bond     Wahab Agbaje     Dankaka     Alliance For Democracy     Olabode Towoju     Wale Oladepo     Adamu Ibrahim Sabi     Royal FM     NIRSAL     Saliu Shola Taofeek     Olushola Saraki     Hauwa Nuru     Kwara Volleyball Association     Taofeek Sanusi     Sulu Babaita Isiaka     Yusuf Aiyedun     Waziri Yakubu Gobir     SSA Youth Engagement     Sunset Workers     Olabimpe Olani     Aliyu Adebayo     Suleiman Idris     Basit Olatunji     Kola Bukoye     Erin-ile     Ubandoma     Www.Kwarareports.com     Olota Of Odo-Owa     Igbaja     UTME     Olatunji Ibrahim     Amos Justus Sayo     Ajakaye     Abdulquawiy Olododo     Alaro     Habeeb Abdullahi Al-Ilory     Moro     Ambassador Kayode Laro    

Cloud Tag: What's trending

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

Wasiu Odewale     Saka Isau     Saidu Isa     Sunday Popo-Ola     Omoniyi M. Ayinla     Ahmed Bolaji Nagode     Ilorin Talaka Parapo     Imodoye Writer’s Enclave     Oluwole Dupe     Aliyu Muhammad Saifudeen     ENetSuD     Olatunji Ayeni     PharmAccess Foundation     Tope Daramola     Abdullahi Dasilva Yussuf     Yahya Mohammed     Yinka Aluko     Osinbajo     Ministry Of Women Affairs And Social Development     Offorjama     Gbenga Adebayo     Jebba     Yahaya Seriki Gambari     Ishola Balogun Fulani     Neuropsychiatric Hospital     Lukman Adeloyin     AGILE Programme     Towoju     Alabi Lawal     Paul Olawoore     Abubakar Aliagan     Ijagbo Health Centre     Arinola Fatimoh Lawal     KWAFFA     Ike Ekweremadu     Ndakene     Lola Ashiru     David Oyedepo     Abdulazeez Arowona     Jimoh Akani     Lateef Alagbonsi     Amos Sayo     Dele Belgore     Sheikh Ariyibi     Is\'haq Modibbo Kawu     SGBN     Babata     Abatemi Usman     Kunbi Titiloye     Iyabo Adisa Ibiyeye     Matthew Okedare     Ilorin South     International Vocational Centre     Owo Isowo     Ilorin West/Asa Federal Constituency     Laboratory-to-Product     Owode Market     Abdulkadir Bolakale Sakariyah     Ronke Adeyemi     Olatunji Ibrahim     Aisha Ahman Pategi     Aminat Omodara     Saidu Yaro Musa     Valsolar     Emir Of Shonga     Sheu Ndanusa Usman     Jamila Bio Ibrahim     Abraysports FC     Voices Of Tomorrow     Shola Odetundun     Jimoh Olusola Imam     Razak Atunwa     Shuaib Abdulkadir     Ilorin Innovation Hub     Florence Saraki     Suleman Abubakar     Durbar Festival