Nigeria:Christmas shoppers frustrated as naira scarcity leads to depleted ATMs

Nigeria:Christmas shoppers frustrated as naira scarcity leads to depleted ATMs

By Zuleihat Owuiye, Mamos Nigeria

frustration among Christmas shoppers due to naira scarcity and cash shortages in various regions, affecting both individuals and businesses.

Despite assurances from the Central Bank of Nigeria, many ATMs were not dispensing cash,

leading to challenges in making necessary purchases. The article also mentions the impact on traders, POS operators, and increased service charges.

The Central Bank attributes the cash scarcity to issues with the naira redesign policy, prompting a comprehensive review. 

The situation has led to challenges in different states, affecting residents and businesses alike.

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