Cash squeeze: Kaduna residents turn to Petrol Stations for salvation

Kaduna residents have turned to petrol filling stations for salvation in their desperate search for cash to satisfy their pressing needs, reports the News Agency of Nigeria (NAN).

This development is sequel to scarcity of liquid cash in Automated Teller Machines (ATM) of most banks in the metropolis, just as PoS operators have closed shop for same reason.

NAN checks indicated that people in search of cash troop to petrol stations dispensing fuel, hunting for those that are buying petrol with cash, instead of electronic transfer.

An agreement is then reached with those in need of cash, who would settle the fuel price from their account through electronic transfer, and then receive the cash from the fuel buyer in return.