Nigerians groan as cash crunch induces bleak Easter | The Guardian Nigeria News - Nigeria and World News

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Most Nigerians, especially Christians, will celebrate this year’s Easter in a simple, low-keyed style as a lot of them are yet to recover from the disruptions to their socio-economic activities caused by the poorly implemented cash swap policy of the Central Bank of Nigeria (CBN).

Christian faithful of St Kizitos Catholic, Church Iju Station during their drama sketch to commemorate good friday in lagos…yesterday PHOTOS; SUNDAY AKINLOLU

Another resident, Ayodele Mike, said: “I am preparing with the little fund I have and have bought the necessary food items to celebrate the festival. We thank God we are alive because only the living celebrates.” According to her, “parents are not coming to buy new clothes from us for their children. Formerly, you will see many of them with their children to the market to buy for their children. But this Easter is very different because things are very bad. There is no money in circulation. The only money they have, they are keeping to buy food.”

“How can we continue like this in this country? I can tell you that with the money I cannot buy all the things I budgeted to buy for food items. Aside from all these problems, I have to go to the POS to cash the money with high charges. I pray that the government will help us in Nigeria and take away all the pains and suffering we are now experiencing.”

A visit to some major markets in Oja-Oba, Alekunwodo, Igbona, Oluode and Old Garage yesterday showed skyrocketing prices of foodstuff have not ebbed. Prices of rice, beans, livestock, groundnut oil, tomatoes and pepper were still on the high side according to consumers and traders. Meanwhile, checks by our correspondent revealed that motor parks in Osogbo were not different, as people were not traveling as expected for the celebration.

He told The Guardian: “It is unfortunate that the banks are reneging on the directive to dispense money to us depositors. I was at the bank I deposited my money with. Unfortunately, after two days I could not withdraw. Some could not get beyond N5,000. The bank officials were accused of dispensing to those known to them favourably.

A commercial motor driver, John Igwe, said: “We are taking this amount from passengers because of the high pump price of fuel and cost of spare parts. We buy fuel between N300 and N400. How do you break even without increasing fares?” She recalled with anger how the situation forced her family to spend extra because they had to buy cash to survive.

 

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The politicians in power won't like to hear this. Nigerians will definitely survive.

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