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Businesses shut down in Kaduna as scarcity of new currency continues

Businesses across all spheres of life were hindered following the scarcity of new currency in Kaduna

Last updated: January 26, 2023 at 9:57 PM
By SU9 staff 2 months ago News
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Businesses across all spheres of life were on Thursday hindered following the scarcity of new currency in Kaduna.

Several business owners, including artisans, cobblers and hawkers of different commodities, were hampered by the unavailability of the new currency notes.

Only a few essential businesses operated skeletal services.

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A few businesses in urgent need of money, received the old currency, for immediate transfer via their banks to avoid losses.

Dr Musa Arungo of Good Shepherd Hospital, Angwar said he had directed all the patients to make direct transfers to his bank while those without bank accounts were required to pay with the new currency.

Alhaji Suleiman Yusuf, a yam seller insisted on being paid with the new notes because he had no bank account. He said his business needs cash in hand, and warned all his customers to come with only new currency before pricing his yam.

According to him, with the new naira, he is empowered to go to bush markets and buy farm produce in large quantities for resale.

A shoe shiner, Yahaya Adams, who has no bank account and live alone in Kaduna, decried the stress he has to go through every day before beginning the day’s business.

According to him, all the money he realised the previous day would be taken to a POS operator and exchanged for new currency at an extra charge before he begins the business for the day.

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SU9 staff January 26, 2023
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