Cash Scarcity Disrupts Daily Life and Business in Kano State
Kano State residents and Point of Sale (POS) operators are facing a worsening cash scarcity, which is crippling daily transactions and threatening livelihoods. According to local accounts, cash shortages are making it increasingly difficult for people to conduct routine activities and businesses.
One resident, Halliru Akilu, expressed frustration over the scarcity, noting how challenging it has become to access even small amounts. “Honestly, these days there is scarcity of cash,” he said. “I don’t normally carry cash, so I rely on finding where cash is available; but now it’s hard. Some POS locations barely have N1,000 or N2,000. This has become a daily challenge as many places do not accept transfers; cash is necessary.”
Akilu urged authorities to address the issue promptly. “I am calling on the authorities to look into the issue; we are suffering already,” he added.
POS operators are similarly affected. A. A. Adamu, a POS vendor, explained that securing cash from banks has become exceedingly difficult, impacting operations. “For the last two months, we have faced this problem. We used to get cash at banks, but now they struggle to provide it. When I request N500,000, they may give just N30,000,” Adamu said. He added that banks are receiving limited supplies from the Central Bank, and have consequently restricted withdrawals.
Fuel stations and other businesses are also limiting cash disbursements due to the scarcity. Adamu recounted a recent visit to a fuel station, where he learned that the station was pooling cash for a businessman who needed N300 million, highlighting the extreme shortages in circulation.
Further compounding the issue, many traders and local market vendors are reportedly bypassing banks and dealing exclusively in cash. “There is no money in the bank,” Adamu observed.
The scarcity, if unaddressed, could have severe impacts on Kano’s economy, where cash transactions are still heavily relied upon. Air Peace Benin-Abuja Flight Returns Due to Technical Snag
