- Residents in Kaduna, Kano, and Katsina States are facing severe cash scarcity, with banks limiting withdrawals to N20,000.
- Point of Sale (POS) vendors are charging high service rates due to the cash shortage.
- Residents are calling on the government to take urgent action to address the cash scarcity before the Christmas and New Year celebrations.
Residents in Kaduna, Kano, and Katsina States are facing severe cash scarcity, with banks limiting withdrawals to N20,000. The situation has led to a surge in demand for Point of Sale (POS) services, with vendors charging high service rates. Residents are calling on the government to take urgent action to address the cash scarcity before the Christmas and New Year celebrations.
In Kaduna city, POS vendors have lamented the cash shortage, which has forced them to charge higher service rates. Adamu Amadu, a POS vendor, said he charges N200 for transactions, up from N100 previously. Ibrahim Nur, another vendor, said he only attends to customers requesting smaller amounts due to the cash shortage.
Residents have expressed frustration over the situation, with some calling on the government to ease the stress of the masses. Bilkisu Moda said she visited three POS centers searching for cash but was unsuccessful. Jamila Sani said she withdrew N5,000 and paid a N100 service fee, which she said was the normal price she usually paid.
The cash scarcity has also affected businesses, with some POS operators forced to shut down operations temporarily. Event planners and civil servants have also expressed concern over the situation, calling on the government to take necessary steps to address the cash scarcity.
