Naira Scarcity: Informal operators in Abuja lament low sales

Informal operators in the Federal Capital Territory (FCT) have continued to lament low patronage following the cash squeeze occasioned by the new naira policy.Information Guide Nigeria

THE AUTHORITY, fruit sellers at Zuba market to meat sellers at Dei-Dei, Karu, Lugbe, Kuje and other major abattoirs and foodstuff dealers across major markets in Utako, Garki, Wuse, and Kubwa, have complained about low sales and low turnout of customers are the same.

Meat sellers, the challenge is lack of physical cash to buy cows and other animals from livestock farmers.

The meat sellers added that most of the livestock dealers prefer cash as instrument of transaction than any other form of payment.

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One of the meat sellers at the Kuje market identified as Abubakar stated that though he has a bank account with one of the old-generation banks, insisted that he cannot accept transfers since his suppliers prefer payment using cash than any other form of electronic payment.NYSC portal

He said: I have to pay cash before my suppliers can sell animals to me, so I can only accept cash payment in order to enable buy next time I go for restocking. Most of my suppliers do not have or operate any form of relationship with the banks; so who do I move the money in my account to them?”

Most of the traders at Zuba market complained of low sales as the market remained scanty. The few traders said that they were struggling to sell off the few items they have on display.

According to the AUTHORITY,  another trader identified as Madam Naomi lamented that most of her items perished as most of her regular customers were forced to suspend their businesses as a result of cash.

She called on government to ease the pains Nigerians are going through as a result of the cashless and Naira swap policy of the Central bank of Nigeria (CBN).JAMB Result

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