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.

Sulu Babaita Isiaka     Lasiele Alabi Yahaya     Amusa Bello     Photo News     Third Estate     Elerinjare     Oya State     Quran     Adamu Atta     Micheal Imoudu     Baruten     Amada Jidda     Ojo Fadumila     AbdulGafar Tosho     Muftau Akanbi Oke     Abubakar Bature Sulu-Gambari     Saka Aleshinloye     Muyiwa Oladipo Kanu     Ibikunle Ogunleye     Florence Saraki     Ilorin Airport     Sherif Sagaya     Yahaya Jibril Usman     Yusuf Abdulwahab     Olabanji Orilonishe     Ejidongari     Salman Jawondo     Teachers Specific Allowance     Oyedun Juliana Funke     Nigeria Association Of Women Journalists     Kassim Babamale     March 28     Mohammed Katsina Ahmed     Doyin Group     UITH     Obuh     Saka Keji     Shehu Alimi Foundation For Peace And Development     Ndama Al-hassan     Sunday Fagbemi     Susan Modupe Oluwole     Ahmed Mohammed Rifun     Ishak Mohammed Sabi     Lukman Oyebanji Fagbemi     Alfa Modibbo Belgore     Centre For Peace And Strategic Studies     Cassava Growers\' Association     Kwara Volleyball Association     Basit Olatunji     Oloriegbe     Gwanara     Reuben Paraje     AbdulRazaq Abubakar Jiddah     MINILS     Yekini Adio     Roseline Oni Aremu     Ayo Opadokun     Kwara State Polytechnic     Mahmud Ajeigbe     Shuaibu Yaman     Shola Odetundun     Kolade Solagberu     Solomon Edojah     Kwara University Of Education     Chief Imam Of Ilorin     Senate     Bilikisu Oniyangi     International Aviation College     Ajibola Saliu Ajia     AGF Abdulrazaq     Bola Ahmed Tinubu     Sarafadeen Kayode Akorede     Sardauna Of Ilorin     Special Agro-industrial Processing Zone     Kwara State Television (KWTV)     Abdul-Rasheed Na\'Allah     QuickWin    

Cloud Tag: What's trending

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

Isiaka AbdulRazaq     Muftau Akanbi Oke     Rotimi Oyedepo     Hijab     CCB     Offa Poly     Abdulmajeed Wahab     Dan-Kazeem     Abdulbaqi Jimoh     Guber Aspirant     Congress For National Consensus     Ezekiel Yissa Benjamin     Muyideen Ajani Bello     Saka Keji     Shao     KWACOBPA     Ayoade Akinnibosun     Frootify     Kwara NIPR     Kazeem Oladepo     Oloyede     George Funsho Adebayo     Adebayo Mohammed Kamaldeen     Garuba Alikinla Shittu     Osinbajo     Olokoba     Muhammad Sirajo Aliyu     Tescom.kwarastate.gov.ng     Bola Ahmed Tinubu     Kola Bukoye     Yekeen Alabi     NIRSAL     Elewu     CCEPE     Www.Kwarareports.com     Suleiman Yahya Alapansapa     David Oyerinola Adedunmoye     Alimi     Halimat Yusuf     Ilesha-Baruba     Nigerian Supreme Council For Islamic Affairs     Nigeria Customs Service     Old Oyo     SSA Youth     Tsaragi-Share     Ajeigbe     SDP     Adama Isa     Mahee Abdulkadir     AbdulKareem Yusuf Danhawa     Abubakar Baba     Obayomi Azeez     Ado Ibrahim     Jebba     Sabi     Iyabo Adewuyi     Peculiar Allowance     Bola Iyabo Ibiyeye Adisa     Hassan Abdulazeez Elewu     Atiku Abubakar     Saadatu Modibbo-Kawu     Razaq Atunwa     Kawu Baraje     Centre For Peace And Strategic Studies     Aliyu Muhammed     Ilorin Durbar     Folorunsho Erubu     Yusuf Olaolu Ali     Muhammad Toyin Sanusi     Segun Adeniyi     Taofeek Sanusi     Olusegun Adeniyi     Sarah Jubril     Code Of Conduct Tribunal     Abdulkadri Ahmad Alaiye     Ayo Salami     Bayo Ajia