Ayodeji Oduwole, an engineer with Mitsulift Nigeria, has always spent his Christmas and New Year with his family in Osogbo, Osun State, but this year, he is not certain whether he will spend both in the ancient city.
Despite the hours he spent in his bank, he could only get N2000 on Friday, which is not enough to do anything. He told The Guardian, “I have scheduled to travel with my family yesterday, December 23, but had to postpone my movement because there is paucity of cash. I have had to spend more money to get the little I have now for my trip tomorrow (that is today).”
The same fate is what Paul Eghieye is facing: Paucity of funds. Eghieye told The Guardian, “I had a burial to attend in my village, Ogbona, Edo State between December 21 and 22, but I couldn’t go. It is not every transaction that you do with transfer, and worse still, everything is very expensive. One is not happy with what is happening.
“In January, when it happened, people said it was because of election, what is happening now? Is Christmas another election?” For Bode Osunkunle, “the highest amount I have been able to get from these Point of Sale (POS) agents is N5,000 and I had to spend N300 to get that amount.”
As Nigerians begin this year’s Christmas celebration, a lot of families have lamented the prevailing cash crunch, saying it has affected their plans for the festivity.
From Lagos to Abuja and other parts of the country, traders and shoppers lamented that the non-availability of cash at commercial banks and Automated Teller Machines (ATM) has forced them to re-jig their preparations for the season.
A wholesale dealer on clothes and other accessories at the IBB Market in Suleja, Niger State, Benard Obayi, told The Guardian that sales have dropped below expectations as a result of the cash crunch.
“As I speak with you, people can no longer buy our goods; only businesses that accept cash transfers are surviving. It is a difficult situation that is unexpected especially during this festive season.”