Christmas celebrations will be ruined by a cash scarcity, Ibadan residents complain

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A cash scarcity has been causing hardship for certain residents of Ibadan, the capital of Oyo State, who expressed their displeasure on Friday, claiming it will negatively impact their Christmas celebrations.

In separate interviews with NAN, the residents bemoaned the challenges they had encountered in getting access to their bank accounts.

Entrepreneur Mr. Niyi Olawuyi described the experience as terrifying, saying that certain banks were only able to provide N5,000 to each consumer while others were unable to offer more than N10,000.

Olawuyi observed that a large number of persons who were compelled to send money in order to transact business or trade because they were short on cash were also dealing with network issues.

Another businessman, Mr. Wale Adio, stated that his bank only provides N5,000 to clients, and that those wishing to receive more would need to contact point-of-sale (POS) operators.

“A lot of business owners who have employees to pay are having difficulty obtaining the capital they need to run their companies on a daily basis,” Adio stated.

Additionally, Mr. Sola Famakinwa, an employer for a private company, called the cash shortage regrettable and intolerable, especially during this holiday season.

“In order to receive your money, you must lose time waiting in line. Even some banks have lowered their N20,000 daily cash limit to N5,000. Without a doubt, this will have an impact on how many people prepare for Christmas.

“The typical network issue is preventing the transfer from being helpful. He stated, “People are hurting because they are unable to access even the small amount of money they have in the bank.

However, Mrs. Aina Ojo, a government worker, claimed she was unable to relate to the cash scarcity issue because she did not have anything to wait in line for at the bank.

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

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