Naira Scarcity: Kwara Marketers Expresses Relief As CBN Dispense Cask To Banks

Written by on March 28, 2023

Following the release of old notes by the Central Bank of Nigeria to several commercial banks, traders in tanke community, Ilorin, Kwara state capital have expressed relief with the increase in sales.

Recall that RoyalFM had reported on Monday that commercial banks in Ilorin have begun dispensing cash to citizens through their Automated Teller Machines (ATM) to ease the queues and crowd earlier noticed at banks due to the scarcity of cash.

Also, RoyalFM had earlier reported that traders in the community expressed displeasure and hardship with the lack of sales caused by the scarcity of cash.

Speaking to our Royaltimes, Adeleke Maria, a trader who sells foodstuff and provision at Oke-Odo market said sales have picked up since cash has been made available to the Deposit Money Banks.

“Now we get more cash because unlike before that almost 99 percent of my customers we want to do transfers but now at least we are seeing like 50 percent who are giving us cash and the rest are still doing transfer”.

“The Network was quite better because there is no much transfer coming in, so immediately they were sending the money in less than 30 minutes I will get the money unlike before that you have to wait till the next day before receiving the alert of the previous day but now the alert is quite faster now . We are seeing the alert so easily unlike before and the sales is okay”.

On her part, Mrs. Adebola, also a trader at Oke-Odo market also said an improvement has been noticed in sales as customers now have access to cash.

Describing the challenges encountered during the hardship caused by the naira scarcity, Mrs. Adebola alleged that a Unilorin Student purchased commodities of over thirty thousand and failed to make payment as at the time of filing this report.

“Before when people are doing transaction hardly are we going to see someone that will give us one thousand naira as cash but now it’s better because on Monday we are able to carry cash home.”

“We have a incident in our other shop, we have a shop around item 7 side the guy bought goods of thirty-eight thousand naira and it was actually my sister that was there.”

“But you know she believed that the guy is a good guy he cannot do fake transfer. When he showed her the debit alert of the thirty-eight thousand naira, she was like okay but drop your number because mummy is not picking her calls, she just collected the guy number both calling and Whatsapp number.”

“She called mummy to confirm the transaction but mummy said she have not seen it but the guy said he have sent the money.  Mummy told her not to give

the guy the goods but she was like the guy have left with the goods so there is nothing she can do”.

“When we called the guy, he told us his coming and we didn’t see the guy. We try calling the guy again but the guy block our number”.

“So we went to report to university of Ilorin because we heard his in quantity survey in university of Ilorin but university of Ilorin  said that there is nothing they can do since this is not his first time, that the last one that he did at oja tuntun they took him to police station but he couldn’t do anything”.

|”when his mother was called, the mother said there is nothing she can do and  she does not have any money she can use to bail him, so they have no choice than to leave him alone. So now if we didn’t confirm any transaction done by customer they are not allowed to go.”

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