Residents, POS operators struggle as cash scarcity hits Kano

Residents and Point of Sale (POS) operators in Kano are expressing deep concerns over a growing cash scarcity that has severely impacted daily life and local businesses.

The shortage has led to increased difficulties in accessing cash, with both residents and business operators feeling the strain.

POS operators report a drop in business as they struggle to source cash to meet their customers’ demands, while residents complain that the shortage is affecting their ability to conduct essential transactions.

Many local businesses reliant on cash transactions are also facing setbacks, with fears that the ongoing scarcity could worsen and pose long-term survival threats for small businesses.

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Halliru Akilu, a resident, told Daily Trust, “Honestly, these days there is scarcity of cash. I don’t normally come out with cash with me, what I do is to locate where cash it so as to get it; but it’s now hard.

“When you visit some Point Of Sale (POS), you hardly get N1,000 or N2000. When I am about to go to work, it becomes a challenge every day because they hardly accept transfers; you have to get cash.”

On his part, a POS operator, A. A Adamuamentes, lamented how people, especially businessmen no longer take their money to banks and prefer to deal in cash.

His words: “For the last two months, we have been facing this problem. We normally get cash at banks, but it is now difficult; when you are given the money you see that they also got it from the Central Bank which means they don’t also have it.

“Banks had no cash until they started to limit what to give us. When you need N500,000 they give you N30,000. It’s really affecting our business.”

(DailyTrust)