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.

Baaziki Sulaiman     Sabo-Oke     Emir Of Lafiagi     Nurudeen Muhammed     Temi Kolawole     Earlyon Technologies     Alaaya     Bello Taoheed Abubakar     Kwara Volleyball Association     ASMAU PLAZA     Academic Staff Union Of Universities     Ilorin Innovation Hub     Yahaya Seriki     Bola Ahmed Tinubu     Abdulraufu Mustapha     Kale Belgore     Zara Umar     Ebun-Olu Adegboruwa     Imodoye Writer’s Enclave     Henry Olaosebikan     Noah Yusuf     Oyedepo     TIIDELab     Kisra     Ilorin South Constituency     Moro     John Obuh     State Bureau Of Internal Revenue     Muyiwa Oladipo Kanu     Ridhwanullah Al-Ilory     Centre For Peace And Strategic Studies     Isiaka Saka Opobiyi     Alfa Yahaya Road     Kwara University Of Education     CBT     Odogun Olushola Gabriel     Sanusi Abubakar     Christopher Odetunde     Onilu     Plat Technologies Limited     Presidential Election     Funmilayo Isiaka Oniwa     Omoniyi M. Ayinla     Tanke Road     Kamaldeen Kehinde     Ilorin Like-Minds     EndSARS     Rice Farmers Association Of Nigeria     Rasheed Jimoh     Ile Arugbo     Ghali Muhammed     Umar Saro     CUTI     FERMA     Haleeman Salman     Jamila Bio Ibrahim     Osi     Okin Biscuit     Baba Adini Of Kwara State     SSA Youth Engagement     Chemiroy Nigeria Limited     Alfa Belgore     Ibrahim Abduquadri Abikan     Alabe     Kwara State Internal Revenue Service     Abraham Ojo     Amoyo     Bond     Balogun Ajikobi     Raliat Elelu-Habeeb     Ijagbo     IESA     Nurudeen Mohammed     Sardauna     Photo News     Fola Consultant     Oba Abdulrahim    

Cloud Tag: What's trending

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

Rebecca Olanrewaju     Local Government     Apaokagi     Quranic Recitation Competition     Elerin Of Adanla Irese     Tanke     Towobola Abdulrahman Toyin     Federal Neuro-Psychiatric Hospital     Suleiman Mora Omar     Olaitan Adefila     Cornelius Adebayo     Musibau Akanji     Abdulquowiyu Olododo     Oba Mogaji Abdulkadir     Chief Of Staff     First Lady     Adamu Jemilat-Baki     Aliyu Kora-Sabi     Abubakar Suleiman     Olusola Saraki     Oyun     Abdulrazaq Magaji     Temitope Ogunbanke     UNILORIN Alumni     Michael Nzwekwe     Afin Descendants Union Of Odo-Owa     Ramadan     Atiku Abubakar     Ahmed Mohammed Rifun     Bisi Oyeleke     Women For Change And Development Initiative     Is\'haq Modibbo Kawu     Abdullateef Abdussalam     Eruku     Bello John Olanrewaju     Kwara State Governor     Kwara Restoration Project     Kunle Suleiman     Ibraheem Adeola Katibi     Aisha Ahman Pategi     Onikijipa     Umaru Saro     Suleiman Abubakar     Idowu Laro     Kayode Bankole     Adedayo Yusuf Abdulkareem     SWAN     Folorunsho Alao     Baba Issa Awoye     Musbau A. Akanji     Ibrahim Issa Jetti     Saka Saadu     S.O. Opowoye     Stephen Fasakin     Yusuf Babatunde Abdulwahab     Sheikh Ariyibi     Kwara Polytechnic     John Kehinde Salako     Nagode     Iyabo Dupe Adekeye     Saadu Gbogbo Iwe     Aisha Gobir     Ramat Oganija     Bolaji Nagode     Sebastine Obasi     Standard Organization Of Nigeria     Bola Tinubu     Samuel Adedoyin     Lithium Deposit     Ahmed Shuaib Buranga     Oluronke Adeyemi     Forgo Battery     Ezekiel Yissa Benjamin     Asiwaju Bola Tinubu     Aliyu Muyideen     Salake     Jamila Bio Ibrahim