Most traders and buyers have resorted to the use of online cash transfer because of the shortage of cash in the system following the Federal Government’s directive on Naira cash flow...
Most traders and buyers have resorted to the use of online cash transfer because of the shortage of cash in the system following the Federal Government’s directive on Naira cash flow that has made the nation’s legal tender to be short in supply.
The News Agency of Nigeria reports that the way commercial banks are releasing cash as directed by the Central Bank of Nigeria following the redesign of 1,000, N500 and N200 Naira notes, has caused hardship to people. Mr Isa Ibrahim, an Inter-State Produce dealer, said that the cash shortage had made people to embrace cashless means of transaction.According to him, it removes the burden and risk of carrying cash.
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