According to reports, the issue has intensified in recent weeks, affecting people’s ability to conduct transactions and threatening the sustainability of small businesses.
Halliru Akilu, a local resident, described the situation, saying, “These days, cash is so scarce. I usually don’t carry cash, preferring to withdraw when needed, but now it’s nearly impossible to find. Many POS outlets barely have N1,000 or N2,000 available. Even going to work is a challenge, as some places don’t accept transfers; you need cash.” He urged authorities to address the crisis, noting that the situation is severely affecting livelihoods. “We’re really suffering, and I appeal to the authorities to take action,” he added.
POS operator A.A. Adamu echoed these concerns, pointing out how cash has become increasingly difficult to obtain. “For the past two months, this has been an ongoing issue. Previously, we could get cash from the banks, but now even they seem to struggle,” he said. “When I request N500,000, they sometimes give only N30,000. It’s making it hard to run our business.”
Adamu further explained that people, particularly traders, are increasingly holding onto cash rather than depositing it, exacerbating the scarcity. “It’s a chain reaction. Some go straight to markets to buy goods, bypassing the banks entirely. Even filling stations now ration their cash due to demand from large business owners who need vast sums,” he said, adding that he once encountered a station setting aside cash for a businessman requiring N300 million.
As cash flow continues to dry up, residents and business operators alike are left hoping for swift intervention to restore stability to Kano’s economy and ease the burden on the local community.
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