WRITTEN BY : CHIOMA MADONNA NDUKWU
With the festive season in full swing, shoppers are feeling the pinch of a worsening naira scarcity, struggling to make essential purchases for the upcoming Christmas celebrations.
Despite assurances from the Central Bank of Nigeria, investigations reveal that banks are still rationing cash, and ATMs in major cities across the nation remain cashless. As frustration mounts among customers unable to access cash for crucial transactions, local vendors like Mama Sule and traders in various markets insist on cash payments, compounding the difficulty for those relying solely on digital transactions.
The plight extends to business owners like James, a Point of Sale operator, who worries about sustaining his business amid the scarcity. Sources within the banks acknowledge the shortage, citing the inability to provide cash without a sufficient supply.This scarcity is felt keenly as Christmas approaches, impacting both individuals and businesses, leaving many concerned about the holiday season’s financial strain.
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