Nationwide, POS terminals have grown from about 2.4 million in 2023 to over 5.5 million in 2024, with transactions running into trillions of naira. In 2024 alone, Nigerians carried out POS transactions worth about ₦18 trillion, a trend that has continued into 2025.

Across Ilorin, many bank customers complain that ATMs often run out of cash, remain out of service, or limit withdrawals to small amounts. With fewer than 20,000 ATMs serving the entire country, long queues and repeated failed attempts have become common, forcing people to turn to nearby POS agents who offer quicker access to cash, even at a service charge.

POS operators say the demand for their services keeps growing because they provide what banks often cannot. Some operators explained that customers prefer paying a small fee rather than spending hours at the bank or standing endlessly at non-functional ATMs, adding that reliability has made POS business thrive in busy areas like markets and shopping centres.

Younger POS agents also noted that many people now depend on them early in the morning, especially when ATMs have no cash. According to them, easy access and steady customer flow have turned POS services into a dependable source of livelihood for youths.

Customers and traders interviewed said POS terminals save time and reduce stress. Many admitted they now plan their daily movements around available POS points, describing them as faster, closer, and more dependable than bank ATMs, despite the extra charges involved.

Experts believe that unless banks significantly improve ATM availability and cash loading, POS operators will continue to dominate cash distribution in Nigeria. For now, for many residents of Ilorin and beyond, POS terminals remain the preferred and trusted gateway to their money.