We hope naira scarcity disappears after elections: Nigerians

It was widely believed that the Central Bank of Nigeria (CBN) does not want plenty of cash in circulation to discourage vote buying.

News Agency of Nigeria • February 23, 2023

Long Queues at ATM (Credit: Business Day)

Some Nigerians living in Ilorin, the Kwara State capital, on Thursday, say they hope the crippling scarcity of naira notes ends immediately after the February 25 Presidential and National Assembly elections.

Some of the respondents, in separate interviews, said that the hardship caused by the scarcity was enormous and that they can’t wait for it to be over.

Kabir Adeoye, a Point onlf Sales (PoS) operator, said he had since closed down his business due to lack of cash to keep it running.

Mr Adeoye said he was only able to withdraw N5,000 daily, which he can only use for personal use.

He said he was hopeful that the situation would get better after elections because it was widely believed that the Central Bank of Nigeria (CBN) does not want plenty of cash in circulation to discourage vote buying.

Another respondent, Rebecca Bamigbola, a petty trader, said sales have been low lately as people do not have physical cash to make purchases.

“I have not been selling like before because people complain of not having cash, and transfers made are not received.

“Some transfers do not even go through at all. So, for now, I am not accepting transfers again, because the ones I accepted before have not entered my account and the buyers claim that they have sent it.

“I just pray we get over this on time because life has been difficult for those of us that don’t have another means of survival,” she said.

On her part, Agnes Okorie, said she isn’t sure of where to get transport fare back home after work because the queues at the bank were long and PoS operators don’t have cash.

“I have been walking up and down looking for PoS operators that have cash, but to no avail.

“I got late to work this morning because I had to borrow transport money and I can’t borrow again in the evening.

“We can’t continue like this because it is not easy for us; it is not everyone that can go to the bank and queue for long.

“Let’s be hopeful that once the election that they don’t want vote-buying for is over, we will go back to our normal way of life,” she said.

(NAN)

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