Naira Scarcity: Eke Awka Market Traders Lament Low Patronage

Traders at Eke Awka Market have lamented poor sales due to low patronage from customers, a situation they attribute to the present naira scarcity affecting various parts of the country.

A spokesman for the traders and Chief of Staff to the Chairman of the Market, Sir Charles Anierobi, described the introduction of electronic money transfers as a major challenge to traders, adding that some traders in the North where foodstuffs are sold in large quantities still demand cash payments; instead of money transfers.

He further explained that even those willing to accept electronic payments face the challenge of poor network, and called on the government to find solutions to the situation, particularly by ensuring a reasonable amount of cash is in circulation.

Another trader who spoke on the issue, Mr. Thaddeus Ezeh, stated that the introduction of electronic money transfers in Nigeria could reduce robberies against traders who carry large sums of money for business trips, and urged the Central Bank of Nigeria to introduce mobile banking services in more locations, particularly in rural areas, to facilitate smoother business transactions.