How are different people reacting to the scarcity of the naira?
If you are living in Nigeria, I’m sure you know that the naira is scarce, almost as scarce as dollars, and people are looking for it everywhere.
This is because the government set a deadline for the acceptance of old notes and the new notes are not in circulation.
Those who don’t have any money in the bank and at hand
These people are already broke, and it doesn’t even matter whether there are new naira notes or there are no new naira notes, they simply don’t have money anywhere.
Those who have a naira plug
These people know those who work in the Central Bank and Banks and have a steady supply of new notes.
Those who wake and sleep at the ATM
An easy example is those who operate POS (Point of Sale) machines and have become the overlords this season. They wake up very early in the morning to queue for money and start dispersing it to others at very high prices.
Those who are desperately looking for money
These are the cash madams and ogas who spend a lot of money every day and are now cash trapped. Plus, their bank apps are suddenly not working, so they have money, but they can’t spend it.
Those who are hoarding money
Certain people have withdrawn so much money via their plug and are still complaining about the scarcity of the naira with everyone else.
