Cash Scarcity Hits Kano, Residents and POS Operators Lament

• Residents and POS operators in Kano State are facing severe cash shortages, making transactions and sustaining livelihoods increasingly difficult
• POS operator A. A. Adamu reported banks limiting cash availability, significantly impacting businesses and forcing people to keep cash instead of depositing

Residents and Point of Sale (POS) operators in Kano State are facing severe cash shortages, affecting businesses and daily life.

According to Daily Trust, the scarcity of cash has intensified, making it difficult for people to conduct transactions and sustain their livelihoods.

One resident, Halliru Akilu, expressed frustration with the 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 said.

Akilu added that accessing even small amounts, like N1,000 or N2,000, from POS agents has become challenging, and many businesses don’t accept bank transfers. He urged authorities to address the issue, saying, “I am calling on the authorities to look into this; we are already suffering.”

POS operator A. A. Adamu also highlighted the difficulties facing his business due to cash scarcity. “For the last two months, we’ve been dealing with this problem.

Banks have been limiting the amount they give us. When we request N500,000, they only provide N30,000,” he explained. Adamu noted that this has reduced the availability of cash for POS operators, as banks are also struggling to meet cash demands.

He mentioned that other sectors, such as filling stations, are similarly affected. “You hardly get what you want because they are also complaining. At one point, a filling station told me they were saving cash for a businessman who needed N300 million,” he said.

Adamu pointed out that many people, particularly those in markets, are keeping cash instead of depositing it in banks, further exacerbating the scarcity.

Residents and business owners alike are calling for urgent action to address the cash shortage, which is disrupting lives and threatening the economic stability of Kano State.