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By Tunde Thomas
As Nigerians are expected to turn out in large numbers today to elect candidates in the National Assembly and Presidential elections, one factor that may affect the exercise is the on-going naira scarcity being experienced across the country.
Investigations by the Saturday Sun reveal that the hardship being experienced by millions of Nigerians in sourcing naira notes may affect the morale of prospective voters.
The Central Bank of Nigeria announced the introduction of the redesigned 200, 500, and 100 notes on October 26 2022. But since the new notes were unveiled, Nigerians have been finding it difficult to access them from the banks and ATM points. Following difficulties being encountered by Nigerians in sourcing the new naira notes, President Muhammadu Buhari approved a 10-day extension of the expiry date of the old naira notes from January 31 to Feruary10. A seven-day grace beginning from February 10 to February 17 2023 was also approved to enable Nigerians to deposit their old notes at the CBN after the deadline when the old currency would have lost its legal tender status.
Following further complaints by Nigerians over their inability to deposit their old notes President Muhammadu Buhari last Thursday gave approval to the CBN to extend the deadline to turn in some old banknotes until April 10 after cash shortages had stoked anger and caused protests in different parts of the country. However, the new notes have been in short supply, and the resultant effects have been long queues, and chaotic scenes at banks.
Even Point of Service (POS) operators who could have become sources of succour to those who want to withdraw money have also been complaining of finding it difficult to get both the old and new notes from the banks. Some of them have closed down for business while those that are operating are not making life easy for Nigerians as charges on the transactions done with them have skyrocketed by over 400 per cent.
While agreeing that the elections coming up today is a crucial one, some Nigerians who spoke with our correspondent however said what really matters to them now is how to survive the present economic hardship occasioned by the scarcity of naira notes.
A secondary school teacher in Lagos, Mr. Kola Olowolafe said that even though he has his voter’s card, he has not made up his mind whether to vote or not because of the harrowing experience he has been going through as a result of his inability to withdraw money from banks, and POS operators.
‘’The last one week has been tough for me and members of my family. It has not been easy for us. We have been living from hand to mouth. To feed has become a big challenge. For me, what matters now is how to survive with members of my family. We have no money at home, and we can’t withdraw from banks or from POS operators. We don’t have foodstuffs at home. So for the elections I don’t know yet. I have not made up my mind whether to vote or not,” he declared.
Expressing similar opinion, a trader at Iyana Ipaja, Mr Chike Okoye said the present socio-economic situation in the country has disorganised his business and family, adding that what is most paramount on his mind now is how to survive the cash crunch with members of his family.
However, while urging Nigerians not to despair as a result of the present hardship being experienced as a result of the cash shortage, elder statesman and former Minister for Transportation, Chief Ebenezer Babatope implored Nigerians to strive to go out today to exercise their civic rights.
’’It is true that times are indeed hard but Nigerians should not despair. They should not be despondent. They should go out in their large numbers to cast their votes. This is just a passing phase. This election is not only crucial but it comes up once in four years so I enjoined Nigerians to go out and vote,” he said. National President, Arewa Youths Consultative Forum (AYCF), Alhaji Yerima Shettima also enjoined Nigerians not to despair as a result of the present situation.
“Nigerians should go out and vote. They should not allow the present situation to discourage or demoralise them from voting.”
