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.

Jimoh Lambe Abdulkareem     Freshvine Nigeria Limited     Hydro-electric Power Producing Areas Development Commission     Toyin Olayinka Tejidini     NFAI     Isiaka Oniwa     Congress For National Consensus     Bayo Onimago     Ilesha Gwanara Road     Muhammadu Gobir     Olushola Saraki     Chikanda     Shero     Owode Market     Gobirawa     Yusuf Lanre Badmas     Shuaibu Yaman Abdullahi     Ilorin Water Reticulation     Ilorin Talaka Parapo     Abdulrasheed Lafia     Yekini Adio     Hassan Oyeleke     Maryam A. Garuba     Nigerian Supreme Council For Islamic Affairs     Umar Danladi Shero     Offorjama     Abdulrahman Iliasu     Muslim Media Watch Group Of Nigeria     NYSC     Kayode Issa     Shuaib Abdulkadir     Al-Ilory     Ahmed Mohammed Rifun     Abdullahi Imam Abdullahi     Yakubu Gobir     Folaranmi Aro     Moshood Bakare     Zainab Abass     Barakat Community Secondary School     Atiku Abubakar     Ajikobi     Saka Asiat Ayinke     Zulkifli Ibraheem     Ibrahim Issa Jetti     Rex Olawoye     Just Law Forum     Kuliyan Geri     Charcoal     Razak Atunwa     MMWG     Lanre Badmas     Jimoh Bashir     Unilorin FM     Okin Biscuits     Adewuyi Funmilayo     Sanusi Abubakar     Shonga Farm Project     Kwara Poly     V.O. Abioye     Baboko     Asa LGEA School     Olatunde Olukoya     Kwara United     Hauwa Nuru     Abdulrazak Shehu Akorede     CCB     Ahmed Bolaji Nagode     Kwara-SAPZ Project     Bayer Nigeria Limited     Bankole Omishore     Islamic Development Bank     Adedeji Onimago     Makama Of Kaiama     Muhammad Toyin Sanusi     Kolade Solagberu     Alabere     Sodiya    

Cloud Tag: What's trending

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

Kunle Okeowo     Moses Adekanye     Mary Kemi Adeosun     Sheikh Hamzat Yusuf Ariyibi     Maimunat Oniyangi     Afolabi-Oshatimehin Adenike Harriet     Gbajabiamila     Garba Dogo     Hydro-electric Power Producing Areas Development Commission     Bibire Ajape     Ayekale     Lai Gobir     Ilorin Innovation Hub     Kolawole Bashirat     SWAN     Oniyangi Kunle Sulaiman     Oluwatoyin Lukman     Aliyu Kora Sabi     Ronke Adeyemi     KWSUED     Alfa Yahaya Road     Olosi Of Osi     IHS Towers     Gaa Olobi     Dan-Kazeem     Suleiman Abubakar     Opaleke Bukola Iyabo     Fareedah Dankaka     Otunba Taiwo Joseph     Eruku     Kanu Agabi     Oro Grammar School Old Students Association     Toun Okewale-Sonaiya     Jawondo     Tafida Of Kaiama     Afonja     Olota Of Odo-Owa     Oyun     Obayomi Azeez     Opobiyi     IHS     Tanke Flyover Bridge     Emmanuel Olatunji Adesoye     Federal Road Maintenance Agency     Taofeek Ibraheem     Gbenga Adebayo     Michael Nzekwe     Segun Ogunsola     Taiwo Joseph     Albert Ogunsola     Ahmed Dankaya     Yakub Lai Gobir     11th Galadima     Kishira     Oluranti Idowu     Bamidele Adegoke     Emir Of Lafiagi     Facebook     Ibrahim Taiwo     Rasaq Jimoh     Harafat E. Mukadam     Amos Bajeh     Kunle Suleiman     Musa Alhassan Buge     Mohammed Haruna     Jimoh Bashir     Mohammed Ghali Alaaya     Salary     Abubakar Bature Sulu-Gambari     Sulu Babaita Isiaka     Admiralty Villa     JAMB     Share-Tsaragi     Titus Suberu-Ajibola     Mahmud Ayinla Giwa     BECE     Otuka