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.

Kwabes     Bilikis Oladimeji     Sam Okaula     Olaiya Zuberu     Ibrahim Taiwo     Ilorin Talaka Parapo (ITP)     Bashiru Makama     Sabi     Abdulrasheed Lafia     Aliyu Muhammed     Saliu Tunde Bello     Ilorin East/South Federal Constituency     Bursary     Isiaka Oniwa     Segun Abifarin     Kayode Alabi     Abdulhakeem Adelaja Amao     Timothy Olatunde Fadipe     Gbenga Adebayo     Falokun-Oja     Computer Based Test     Sa\'adu Salahu     Wahab Issa     John Olobayo     Agboola Abdulraheem     Oluwatoyin Lukman     Shagari     Old Oyo     GGDSS Pakata     Muhammad Sirajo Aliyu     Mohammed Katsina Ahmed     Salman Suleiman     Mohammed Abduraheem     Yahaya Seriki     Labour Party     Rice Farmers Association Of Nigeria     Kwara State Television (KWTV)     Halimat Yusuf     Saad Omo Iya     Shehu Salau     Oke-Oyi     Adisa Logun     Charles Ibitoye     Kabir Shagaya     Christopher Odetunde     ASMAU PLAZA     KWASSIP     Ben Duntoye     Tafida Of Ilorin     Mustapha Olanipekun     Share-Tsaragi     Binta Sulyman     Olufolake Abdulrazaq     Sarkin Malamai     Just Law Forum     Ndakene     Innocent Okoye     Bolaji Abdullahi     Sheikh Alimi     Pakata Patriots     Kwara State Football Association     Kwara 2023     Okin Biscuit     Tanke Flyover Bridge     Bilikisu Oniyangi     Sulyman Atolagbe Alege     Offorjama     Awili Pedro     Saadu Yusuf     Muhammad Mustapha Suleiman     Kwara State Sports Commission     Mutawalle     Timothy Akangbe     Yahaya Seriki Gambari     Peter Amogbonjaye     Kwara TV     Raimi Iyanda    

Cloud Tag: What's trending

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

ITEM 7     Nigeria Computer Society     Ishaq Oloyede     Charcoal     Bamidele Adegoke     Kolo     Grillo     Orire     Emir Of Lafiagi     Col. Ibrahim Taiwo     COVID     Oba Abdulkadir La\'aro     Afolasade Opeyemi Kemi     Ayotunde Emmanuel Alao     Code Of Conduct     Yahaya Abdulkareem Babaita     Lateef Ademola Olatunji     Bamikole Omishore     Seed Technologies     FERMA     Local Government     Unilorin     Oba David Oyerinola Adedunmoye     Abdulrazaq Akorede     Oyedepo     Adamu Ibrahim Sabi     Jumoke Gafar     Kwara State Sports Commission     Freshvine Nigeria Limited     Balogun Gambari     Saidu Kawu     Olupako Of Share     Wahab Isa     Gbemisola Saraki     Kale Kawu     Sam Okaula     Yahaya Abdulkareem     Abegunde Goke     Dele Momodu     Kwara Muslim Pilgrims Welfare Board     Towobola Abdulrahman Toyin     Www.Kwarareports.com     Budo-Egba     Offa Descendants Union     Abdulmutalib Shittu     Ibraheem Adeola Katibi     KWASIEC     Emir Of Ilorin     Bolaji Aladie     Abubakar Abdulraheem     Mahmud Ajeigbe     Yunus Lawal     Joseph Alex Offorjama     Bukola Saraki     Amina Susa\'a De Ahmed     Olupako     Ajidagba     Radio Kwara     Musa Alhassan Buge     Ilorin Anchor Men And Women     UITH     Jebba     Sidikat Uthman Ajibola     Adedeji Onimago     Apado     Amada Jidda     Sardauna Of Ilorin     Razaq Ayobami Akanbi     Usman Rifun     Laboratory-to-Product     Oniyangi     Raliat Islamic Foundation     Aliyu Sabi     Lawal Arinola Kudirat     Pius Abioje     Trade Lenda SME Fair     New Nigeria People’s Party