Naira Scarcity: Nigerians to face more hardship
It’s always been complicated situations for the people of the country. They have always had one problem or the other to tackle. Apart from worsening economic situation, which has become a part of their lives, Nigerians have to struggle with naira scarcity or unavailability or expensive petroleum.
Last year, during the festive period in December, Nigerians struggled to have the new naira notes while disposing of the old ones. At the same time, they had to form long and seemingly endless queues at the petrol stations. It’s really frustrating for the hapless and helpless Nigerians.
This year, the ugly head of the monster, scarcity, has shown again. While the stations are selling their commodity with no glitch, Nigerians are looking for unavailable naira notes.
The Nigeria Labour Congress has reacted to the usual challenge that the people of the country face. The congress along with the Trade Union Congress accused the Central Bank of Nigeria and the president of disregarding the horrible experiences Nigerians have over the scarcity of the notes.
President of the NLC, Joe Ajaero, gave the warning in Abuja at a press briefing adding that the patience of Nigerians was being stretched.
Ajaero said, “The Nigeria Labour Congress (NLC) is deeply concerned about the recent cash crunch that has gripped the Nigerian economy, particularly as the nation approaches the festive season. This economic challenge has far-reaching implications for the citizens of our great nation, and urgent steps must be taken to address this issue to prevent further hardship for the already suffering Nigerian populace.
“Fresh in the minds of every Nigerian is the excruciating conditions that we were all subjected to as a result of the last cash crunch earlier this year, orchestrated by the ill-conceived and ill-implemented currency redesign policy of the immediate past government.
“The sorrow that the botched exercise foisted on us is not what Nigerians wish to witness again in one year. This time, there is no discernible reason by the CBN neither any explanation from the Government for why Nigerians should be subjected to this level of suffering once again in 2023.”
The apex bank had explained that there are too many fake naira notes out there. Therefore, it reduced the naira notes circulation. Nevertheless, the reason is not tenable enough. Nigerians ought not to be made to pass through more hardships.
Nigerian economy is still regrettably nosediving. Cost of living has hit the ceiling, more millions of the citizens have been impoverished. Several have lost their sources of income with the dying economy of the country.
The hardship seems not to be enough. The government would rather make sure that the problem is compounded. Hence, the issue of naira notes scarcity.
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