Economy

Olajumoke Idowu 

Ahead of Saturday’s Presidential and National Assembly elections,  traders in Abeokuta the Ogun State capital want the Federal Government to find a lasting solution to the scarcity of new naira notes and fuel crises which have grossly affected the buying and selling of food items during this period.

A frozen foods seller at Adatan market, Mrs Oluwatosin Afolayan who lamented that the cash crunch had caused low patronage,  said the only few people that patronized her had to pay through e-payment channels which also failed due to network issues. 

While speaking on the low influx of customers at the market, especially during the election eve, Mrs Afolayan expressed optimism that she would record more sales before the day ends. 

Also, a businesswoman, who specialized in the selling provisions and food items, Mrs Olajumoke Fasanya said the struggle to access new naira notes had taken a toll on her business leading to a decrease in her income, adding that the election period did not affect prices of food. 

They called on the government to urgently make cash available and also allow the people to continue spending the old 1000 and 500 naira notes to reduce the hardship. 

Other traders at various markets including, Iyana-Mortuary, Kuto and Adatan appealed to the federal government and relevant stakeholders to take proactive measures in tackling the various challenges faced by business owners before a new government dispensation takes over.

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Economy

By Maxwell Oyekunle

Government needs to find an immediate solution to the cash scarcity currently rocking the nation, following the redesigning of some naira note denominations.

This is the submission of a group of Nigerian youths who stormed the Ibadan Office of the Central Bank of Nigeria, CBN, in Dugbe, Ibadan to express their grievances concerning the hardship they are facing in the process of trying to get the new naira notes.

The youths numbering about 50, carried placards bearing inscriptions, such as “Give us our money”, “2000 naira isn’t enough”, “Enough is Enough”, “This wahala is too much”, “We have a right to our money” e.t.c.

One of the youths who spoke for the group urged the government to quickly find a solution to the matter adding that, if the people got too frustrated it could lead to undesired consequences.

There was a heavy presence of security operatives, including the police and the military around the CBN complex during the protest to forestall the breakdown of law and order.

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