Grain traders in suburb markets in the Federal Capital Territory (FCT) are rejecting electronic transactions from customers, despite the cashless policy of the Central Bank of Nigeria (CBN).

A correspondent who monitored Nyanya, Karu, Mararaba, and Masaka markets on Tuesday in Abuja observed the traders were not accepting electronic transactions.

The traders said they bought the commodities directly from the rural farmers who are not involved in any form of electronic banking transactions.

Kadijat Ibrahim, a trader at Nyanya Market, said although the number of her customers was reducing, she would continue to demand cash for her goods.

“I have a bank account, but because I cannot also transfer money to the people I buy from, I won’t accept such a mode of transaction. Though I am losing a lot of customers.

“The local farmers at the bush markets where we buy our products can only sell their grains to you if you have cash,” she said.

Ismaila Abu, another grain trader at the Mararaba Market, said he does not accept any form of electronic transactions for his goods.

“I use a little capital for my business, and I wouldn’t want it to be held in any bank.

“I do not have a bank account, but I cannot go and open one now. I will wait until all this stress in banks is over,” he said.

Ayo Ade, another grain trader at the Gariki Market, appealed to the CBN to make cash available for citizens engaged in small businesses for sales to improve. 

(NAN)