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Losers trump gainers in Nigeria’s naira redesign
The naira redesign policy of the Central Bank of Nigeria (CBN) has produced more losers than gainers as the cash crisis it brought about has yet to go away.
On October 26, 2022, the CBN…
Nigerians shy away from banks after cash crunch
As the cash crunch eases with banks now making cash available through the automated teller machines (ATMs) and banking halls, many Nigerians are still smarting from the agony they went…
Cash availability forces PoS operators to slash charges
The recent circulation of naira notes has forced Point of Sales (PoS) businesses to reduce their exorbitant charges to nearly what it was before the cash scarcity caused by the currency…
Why bank transfers buckled under naira scarcity pressure
Peter Opara, a 48-year Uber driver in Lagos, had to raise his voice when he saw the red figures on the cashier’s monitor. The bill for the items he had in his cart was racing above the…
How new notes scarcity pushed fintech mainstream
Six months ago, Paul Matthew, a 31-year-old personal shopper, would not agree that fintech startups should have any business with his money. Today, his mobile device features mobile apps…