Business
THE subsisting cashless policy has now turned daily consumables products sellers to naira round trippers, to make cash avaliable to people.
The News Agency of Nigeria (NAN) reports that, Lagos food item sellers that collect cash payments for their wares from buyers in turn sell the cash, with commission, to people in need of cash, thereby making double gains from product sales and cash.
The Federal Government had said that the cash scarcity was to revamp the economy, while it advised people to embrace the mobile Naira transaction to ease the cashless crisis.
NAN reports that at the Iyanoba food stuff market at Ojo Lagos, sellers of items such as yams, beans, rice and other daily needs prone to cash, deployed the use of the POS machines to transffer cash from cash seekers’ accounts and in turn give them its cash equivalent.
The same scenario was the lot of cash seekers at the Agboju Amuwo Lagos food market where people that could not get cash from banks and the ATM machines resorted to food item sellers to enable them get cash to meet their daily financial needs.
It was same at the Ojo Barracks Mammy Market Lagos, where cash seekers thronged few food stuff sellers that used POS machine to sell and transact business to get cash.
Speaking on the cash crunch, a food stuff seller at the Iyanoba market, Mrs Yemisi Bakare, said since the cash crisis, people had been coming to her shop for cash because they knew, through my sales, I should have cash.
“As a business person i have to cash in to any avaliable situation to make profit from what I do.
“I know it might not last long but I will exploit the opportunity while it lasts. It is a windfall for those of us selling food items that people need daily to come with cash and in turn we sell the cash to people that need it and make our gain,” she said.
Also commenting on the cash crisis, a cash seeker, Mr Christoper Udeh, said the situation was not funny at all.
“I cannot imagine how I should buy my own money for me to use it to solve my financial obligation.
“It’s crazy and not in the best interest of the masses.
“For me to pay N1,000 for N5,000 is exploitation. I am wondering how many people can afford to pay for such. This is a rip off of the ordinary people of this nation all in the name of trying to improve on the marcroeconomy,” he said.
Udeh, expressed dismay on the current Naira situation, called on the authorities to remedy the situation with a more people oriented measure to ease the crisis.
At the Moore Blessing Supper Mart in Tedi, the old Naira notes were not acceptable, making customers to resort to online cash transffer after purchases while those with old Naira notes were turned back dejected. (NAN)
KN
Tags: cashless policy
