As the naira scarcity persists with no sign of an end, business activities in the country have continued to suffer a slump with Nigerians more at the receiving end of the harsh economic situation it has unleashed.
•Butchers lament inability to buy cattle
Many meat sellers in various markets in the Federal Capital Territory (FCT) have expressed concerns over their inability to buy cattle from breeders.
The butchers attributed difficulty in purchasing cattle to their inability to access naira notes, which is the only means of transaction acceptable to cattle breeders.
A check at the Dei-Dei food market, Kado Fish market, and Dutse market revealed that many butchers refused bank transfers, insisting on cash payment.
It was also observed that most meat stalls had little quantity for sale to avoid decay due to low patronage.
Nasiru Musa, a butcher at the popular Dei-Dei market, said it wasn’t his fault that he refused transfers for the purchase of meat.
“The people we buy cattle from said they don’t have account numbers and want cash before they sell to us, so why should I collect the transfer?
“If the money enters my account through transfer, how do I pay the Fulani breeders who do not go to the bank or have a phone?” he asked.
Musa said his refusal to accept online transactions had reduced his sales because that was the only offer made by most buyers.
One of Musa’s customers, who identified herself as Mrs. Tope Adelusi, said she was displeased that her regular butcher refused to accept the transfer.
“He is my regular customer and I have been here begging him to accept the transfer but he has refused.
“I have told him that even after these hard times I will not patronise him again because what is the essence of having a customer who can’t understand the economy and assist others?
“It is not my fault that there is no cash in circulation, so why can’t we assist each other?” asked a frustrated Adelusi.
Tinubu, Atiku, Obi plot final strategies
•Naira policy has crippled access to healthcare, NMA, PSN regret
Similarly, the Nigeria Medical Association (NMA) and Pharmaceutical Society of Nigeria (PSN) say the new naira policy has worsened the healthcare situation in the country as people find it difficult to access services and drugs due to a lack of cash.
The Kwara NMA chairman, Dr Ola Ahmed, said this in Ilorin, warning that some patients may die due to the unavailability of cash to pay for healthcare services in hospitals.
He said “patients are in dire situations as they are unable to buy required drugs to stay alive. A patient that is critically sick and cannot access money to pay for drugs is a terrible combination.
“While the money transfer platforms are not easy to make as services tend not to work, some people use the opportunity to dupe people by sending fake transfer alerts,” he lamented.
On her part, Munirat Bello, the secretary of the Kwara PSN, said pharmacists have been trying to be humanitarian in the face of the challenge by giving drugs on credit.
She added that “Patients who received drugs on credit can refund when they can. But the risk is that some people don’t come back to pay. However, we will continue to engage with customers and patients to save lives.”
•Naira swap can’t stop terrorism – Nextier
However, an investigative report released by public policy researchers and analysts – Nextier, yesterday said that President Muhammadu Buhari’s decision to redesign the Naira as part of efforts to stem the tide of terrorism in Nigeria is not likely to yield desired results in the end.
The report advised the Nigerian government to have the political will to courageously and diligently prosecute already identified terrorism sponsors, including those unmasked by foreign partners like the United Arab Emirates and the United States of America.
Following the socio-economic and political upheavals that implementation of the policy has brought on average Nigerians since the February 10, 2023 deadline given by the CBN elapsed, Nextier contended that the CBN cash limitation policy cannot effectively address the phenomenon of terrorism financing in Nigeria because of some situational and contextual challenges.
According to the Nextier report released over the weekend, “the ill-timed and quick-fix policy is a wild goose chase”.
It proffered instead, that “to mitigate terrorism financing, the government has to take some bold steps, including timely arrest and prosecution of persons indicted for terrorism financing, strengthening collaboration with other countries such as UAE and US, and sanctioning complicit banks which are used to siphon money to terror groups”.
•Adamu, APC NWC back govs against Buhari
The All Progressives Congress (APC) yesterday at the party’s national secretariat held an emergency meeting with its governors over the controversial naira redesign policy introduced by the Central Bank of Nigeria which is pitching the governors of the patty against the presidency fuelling discontent ahead of the Saturday presidential election.
Briefing the press shortly after the meeting which saw all the governors keeping mum including the presidential candidate, Asiwaju Bola Ahmed Tinubu signifying in unmistakable terms that all is not well within the party.
The governors who were more than 15 in attendance declined to speak to the press on the outcome of the meeting but it took the national chairman of the party, Senator Abdullahi Adamu summons the courage to hint to the media on what the outcome and resolutions of the meeting were about.
Adamu had urged the President and the CBN governor, Godwin Emefiele to respect the Supreme Court order of interim injunction extending the collection of old 500 and 1000 naira notes stating that due to the introduction of the policy, Nigerians and the economy have continued to suffer untold hardship which if allowed to continue might spell doom and catastrophe for the party during the elections.
The Supreme Court is expected to rule on the matter come February 22nd as part of the last efforts to stop the CBN and the presidency from implementing the policy which is already drawing serious resistance across the nation with protests and demonstrations proving that all is not well within the party and the Villa, the seat of power of the nation.
But addressing the media, Senator Adamu said in order not to be seen to be taking action that could be prejudicial to the interim order of the Supreme Court, the party is urging President Muhammadu Buhari and the CBN governor, Godwin Emefiele to respect the subsisting injunction of the Supreme Court.
•Appropriate measures’ have been taken to ease hardships- Buhari
Meanwhile, President Muhammadu Buhari has appealed to Nigerians to exercise further patience as appropriate measures are being taken to ease the hardships occasioned by the Naira redesign policy.
Buhari said despite the initial hardships, God willing, there will be light at the end of the tunnel.
In a statement issued yesterday by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu said in a message sent home from Addis Ababa, Buhari said he is fully aware of hardship some policies of the government, “which are meant to bring overall improvement to the country” had caused and appealed for further patience as the government takes appropriate measures to ease them.
