Concerns Mount as CBN Calls for Input on Naira Availability

Nigerians across social media platforms are sharing their views after the Central Bank of Nigeria (CBN) encouraged them to participate in a survey detailing the availability of the Naira in their respective areas.

In a tweet posted on Thursday, the CBN asked X account holders, “What is the situation on Naira availability in your location? Kindly fill out this survey to help us serve you better.”

Responding to the call, a Twitter user with the handle a_lmumin expressed, “Naira is scarce, and even the available ones are either mutilated or being managed. Sadly, we are in a cashless flow in disguise.”

Another user, sp_OJOAGBA, commented, “Oga, forget that survey, just send any of your trusted people to enter the bank and ask for 100k on the counter… GTbank, Access, Fidelity, etc., are not giving cash more than 50k… Dirty Naira notes everywhere… Mr. CBN governor, shey normal.”

“#Sterling_Bankng gave me 10k over the counter, saying ‘we don’t have cash.’ If they don’t have cash, #cenbank should release cash to banks. A lot of wrong people in the right places (position),” added am_dozie.

Japhetho shared, “Yesterday I wanted to make a cash withdrawal of 7k using a POS vendor, and I was charged 300 for 7k. I also went to GTBANK ATM, and they didn’t have a single cash in their machines.”

In broken English, AkinolaKoleola remarked, “Survey as wetin! Today na only 20k Stanbic allow me to withdraw, throughout this week no cash was available for dispensing from the ATMs, now it is a norm for your cash needs to be met in long queues in the banking hall with limits!”

“If Cardoso is not equipped to handle the responsibilities of superintending this Nation’s monetary needs, then it’s not too late for him to resign. The optics of Naira scarcity are quite shameful and utterly bewildering a few months into his tenure and raise disconcerting signs,” bunmola2010 added.

Expressing concern, Abdurra87100463 stated, “There is enough cash in my location but you buy it, meaning you don’t see it in banks, but you see it in POS centres. Supermarkets, malls, and filling stations all drop their cash for POS agents. Some supermarkets also have it, so to me, this is the major difference. No cash in banks, not scarcity.”

Lordseun26 noted, “It is so funny when you are saying people are hoarding Naira notes when you know u didn’t print enough, and the old notes u brought back into circulation are getting phased out.”

“Most ATM machines do not dispense cash. A few dispense only during working hours. They quickly switch off the machine at the close of work. You can’t see any machine dispense during the weekend. POS charge as much as 500 hundred for 10 thousand Naira,” OKOROEGONONSO added.

In the past two months, Naira scarcity has been evident in many parts of the country, leading to a 100% increase in charges by Point of Sale service operators.