Tag: Cash squeeze

NLC urges FG to intervene in lingering cash scarcity

Aminu Imam

…Says: ‘Nigerians want their money  The Nigeria Labour Congress (NLC) has asked the government to take decisive action to alleviate the cash crunch and mitigate its impact on the country. The Central Bank of Nigeria (CBN), had on December 13, 2023, attributed the cash scarcity to the hoarding of the currency by some individuals. The NLC president, Joe Ajaero, in a statement issued on Tuesday, said the ongoing cash crunch is an incitement of Nigerians. According to him, the Congress is deeply concerned about the recent cash constraint that has…

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End-of-Year Holidays: Nigerians stranded over cash scarcity, network issues in banks

Aminu Imam

As Nigerians approach the end of 2023, financial institutions in the country are currently facing a tough time as they have been experiencing service downtime, such as cash scarcity, network glitch and IT-related issues for over two weeks. Some customers who spoke with newsmen lamented over delay in transactions in the banking halls, inability to access enough cash from banks, failed transactions on digital banking platforms as a result of network issues and system breakdown. Others complained bitterly over difficulties in accessing their mobile apps, while some complained about non-reversal…

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