Kano State residents and Point of Sale (POS) operators are grappling with a severe cash scarcity, impacting daily transactions and local businesses. The shortage, which has intensified over recent weeks, is straining livelihoods as people struggle to access basic cash amounts.
Halliru Akilu, a local resident, expressed his frustration over the ongoing situation. “Honestly, these days, there is a scarcity of cash. I don’t normally carry cash, so I look for where I can get it; but now, it’s hard,” he shared. With even small withdrawals of N1,000 or N2,000 from POS agents becoming difficult, Akilu urged authorities to take immediate action, saying, “We are already suffering.”
POS operator A. A. Adamu highlighted how the cash scarcity has affected his business. “For the last two months, we’ve been dealing with this problem. Banks limit the cash they give us, often providing only N30,000 when we request N500,000,” he explained. Adamu mentioned that this restriction on cash has impacted not only POS operators but also other sectors, including filling stations, which have begun reserving cash for specific customers. “A filling station once told me they were holding cash for a businessman who needed N300 million,” he added.
The shortage is further aggravated by people withholding cash rather than depositing it in banks, especially in markets. This hoarding behavior has intensified the cash scarcity, affecting everyday transactions and local commerce.
Residents and business operators in Kano State are urging prompt action to alleviate the cash shortage, which threatens to undermine economic stability and disrupt essential transactions across the state.
