• Life
  • Updated: February 12, 2023

Naira Scarcity: How Nigerians Could Be Hurting One Another

AllNews Nigeria reported that the Kano State government, through the Consumer Protection Council, shut a popular supermarket, Wellcare, over refusal to accept old Naira notes under the direction of Governor Umar Ganduje.

As confused as the federal government of Nigeria and the Central Bank of Nigeria are the worst case that could befall Nigeria is to become the bane of hardship to the ordinary citizens.

The naira scarcity brouhaha has become a national discomfort.

Babatunde Raji Fashola, a federal minister, also made headlines when he said the debacle affects him and every other Nigerian.

It is expedient to state that if Nigerians are in such unhappiness, we should gear to pull ourselves out and not deepen the majority of us into the pit.

The reality is that the supermarket in Kano is one of the thousands of places parading the inhumane act without remorse.

Most of these vendors make life unbearable to Nigerians when the government has not banned using old Naira notes.

Go to filling stations, malls, and other public places and witness how the old notes have become public rejects.

The impunity syndrome

Nigerians have found solace in imposing untold hardship on one another over the years.

It started as a class struggle when the rich and the poor jostled for physical and social relevance.

Today, it is a general problem. Specific sets of individuals will decide to punish others because of undue national advantage. 

For instance, during the wake of COVID-19 in Nigeria, face masks and hand sanitisers donated for free in many countries became the costliest commodities.

Nigerians have found solace in traumatising their fellow countrymen. The self-imposed punishment needs to stop. 

The federal government should set out its orientation team to instill confidence in Nigerians that the old notes are still valuable. The lack of trust in the old notes is an imminent problem the government has to fix.

The National Orientation Agency must act to rescale and reshape Nigeria’s belief in our currency system. 

Additionally, the government must publicly warn that any vendor caught not receiving the old notes will be dealt with decisively. 

The fear of having money and becoming unable to spend should be quickly addressed.

The government must enlighten vendors that they are the direct beneficiaries of the consistent naira woes.

AllNews Nigeria gathered that Wellcare Alliance Limited wrote a letter of apology to the government seeking an immediate intervention to re-open the supermarket Shortly after the closure.

At the same time, we need compassionate and charitable business ventures which would not be keen on pouncing on the destructive nature of the country’s story but are determined to transform the tale progressively. 

Every day, we clamour for a better government devoid of oppression and marginalisation, but the business owners in the country could raise the bar if they could add compassion and national interest to their business.

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Yusuf Adua
Yusuf Adua

Yusuf Adua is an investigative journalist passionate about politics, solution-based reporting and f...

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