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Naira crisis: Business owners in Abuja count losses as failed e-transactions soar | TheCable

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Naira crisis: Business owners in Abuja count losses as failed e-transactions soar | TheCable nairaredesign

In separate interviews with NAN on Monday, they commended the cashless policy of the Central Bank of Nigeria but lamented that its timing was taking a toll on businesses.

They said the apex bank ought to have collaborated with relevant agencies to improve on existing internet infrastructure that would accommodate heavy traffic before implementing the policy.They added that the naira shortage was affecting a lot of businesses that are trying to pick up after the huge setback caused by the COVID-19 pandemic and recession.

Chiamaka Eze, a seller of beverages, said she made only few sales at the weekend, adding that most customers left after several attempts to make cash transfers failed.Also speaking, Judith Uzo, a cloth seller, said there is a need for government to work on the infrastructure that would accommodate the number of people using electronic channels.

He said it was important for the CBN to make naira notes available to enable customers pay with cash.

 

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