By: Salako Tijani
In spite of the apex bank guarantee in providing everlasting solution to the problem of new naira scarcity, micro enterprises and street hawkers has express shrinking innate as sales of business is slow in patronage.
Consequently, the effect of the new naira scarcity is now tolling on daily commodities as transportation and other daily activities is now feeling the heat of the scarcity.
It was learnt that, business transaction is now facing a hard time moment as most daily commodities shoppers are rejecting cashless policy idea, emphasising on the poor transaction network.
Many micro enterprises lamented that the Central Bank of Nigeria (CBN)’s policy to change the naira notes with new ones, allowed them to deposit all of their old notes with the hope of getting the new currencies without hitches, before an extension of 10 days was announced for the cash swap deadline.
A civil servant with family of five, told Standard Times that the situation has triggered many homes to go into hunger strike as he was helpless and went begging to feed his family because he could not make any withdrawal.
Meanwhile, another Bank Customer while in front of bank made a short video skit and said he was not with any cash to meet up with his needs, adding that his problem got complicated when his debit card got stuck in an Automated Teller Machine (ATM) and he was unable to conduct any transaction due to network challenges.
Furthermore, Standard Times visited several banks ATM points in Lagos and Ogun States to observe the level of the queue at each point, it was observed that majority of micro businesses were lamenting over the shortage of cash for their business funding.
All the banks visited claimed they were yet to receive cash from the apex bank, while they continued with just funds transfer and attending to complaint from customer on inappropriate debt transaction.
A few who earlier in the day dispensed cash to customers over the counter pegged it at N5,000 limit and others N2,000 ceiling. The move, according to the banks, was to make the cash go round.
One bank customer said: “After staying on the queue for more than three hours, is it this N2,000 note I will use to feed my family for the weekend? How many market women will accept transfers when they don’t know how to operate them? How many of us can afford to go to the grocery to make use of our debit cards, even with the issue of network glitches?”
Some in their lamentations express worrisome in government policies as it effect is always on toll on citizens, majority ascribed the scarcity of naira note and fuel as a political propaganda, adding that government is inflicting suffering on the masses.
