Cash shortage may mar our Christmas celebrations, Ibadan residents lament

On Friday, some residents of Ibadan decried the hardship they have been facing over the cash shortage, saying it may mar their Christmas celebrations.

The residents, in separate interviews with the News Agency of Nigeria in Ibadan, lamented the difficulty they had been facing in accessing their money in the banks.

An entrepreneur, Mr. Niyi Olawuyi, said that the experience had been harrowing, as some banks could not give more than N10,000 to each customer while others gave as little as N5,000.

Olawuyi noted that many people who were forced to do money transfers for business transactions and trading owing to a lack of cash were also being confronted with network problems.

Another entrepreneur, Mr. Wale Adio, said that his bank only gives N5,000 to customers, adding that anybody who wanted to get more would have to go to POS operators.

“Many people who are into business and need to pay their workers are struggling to get funds for their daily operations,” Adio said.

Also, an employer with a private organisation, Mr. Sola Famakinwa, described the cash shortage, particularly during this festive period, as unfortunate and unpalatable.

“You have to waste your time in the queue to get your money. Some banks have even reduced their daily cash limit from N20,000 to N5,000. This will, no doubt, affect Christmas preparations for so many people.

“The transfer is not helping because of the usual network problem. People are suffering because they cannot access even the little money they have in the bank,” he said.

A civil servant, Mrs. Aina Ojo, however, said she could not relate to the cash shortage crisis as she had nothing to queue in the bank to get.

“I’m just expecting the payment of the arrears of the N35,000 wage award promised by the Federal Government to enjoy this festive period. That’s all,” Ojo said.