Feeling so happy after struggling to get some fiat to spend.
If you follow some news from Nigeria, you might have known about the recent cash scarcity and presidential election which are 2 of the top trending events here. While the presidential election has come and gone, the cash scarcity remains a problem which has persisted till this day. Just few hours ago, I went to see my mum's sister who deals on phone accessories. The purpose of my visit was to see if I could get some cash from her and do electronic money transfer to her. I went and surprisingly, I was able to get NGN10,000 from her which is why I am so happy. For you to understand this story here, let me give you a background of our cash challenge.
Why the cash shortage in Nigeria
The Central bank of Nigeria proposed the redesign of new naira notes in the 200, 500 and 1000 naira denominations. The deadline for returning all old notes was January 31st, 2023. Then it was extended to 10th February 2023. Everyone complied and returned the old notes to the bank. But to our greatest surprise, the new notes were not allowed to circulate. Suddenly, we found ourselves in an unfortunate situation where you have neither the old or new naira notes.
This cash shortage problem has persisted since the beginning of February till now. It has literarily crippled the economy. Like many developing countries, Nigeria relies heavily on cash for transactions. So the lack of cash made it really a challenge to get life's basic necessities such as food. So each day represents a fight for survival. Its really frustrating and makes one sad.
Failed efforts to get cash for 2 days
I had a friend and an uncle that have been my source of obtaining little cash which I use to run day to day activities. My uncle sells borehole water and my friend sells foodstuffs. Since this scarcity of cash started, I usually get some from these two people no matter how bad it was. But unfortunately, both have disappointed in the last two days, which made me sad and unable to foot some bills.
When I went to see my uncle two days ago to get some cash and transfer the equivalent to him, he told me there was no money. I was badly disappointed and did not feel happy. I went to several POS operators and all were out of business because there was no cash to give. I really managed to get home with the last money I had.
Then yesterday, I had to call my friend and told him I would be coming to his shop for money. He assured me that I will get some. But to my surprise again, he failed when I went to his shop. I had all my hope on him, so you can imagine the sadness and disappointment I felt. I was not able to buy the things needed at home. It was a bad feeling to see family members struggle for the basic things needed. So I decided call to call my cousin and told here to keep some money for me today.
Happy - succeeded in getting NGN10,000
So when I called my cousin that deals on phone accessories and explained the situation, she told me to come. she has a fairly big phone accessories shop. So she asked me to come in the afternoon.
I just went there few minutes ago (1.10pm) to see if I will succeed. On getting their, she and her sales girls were attending to customers and I had to wait a little. After about 10 minutes, she asked how much I needed. I told her as much as she can give. So she told me she would give NGN10,000. Inside of me, I was so happy. I did the mobile transfer to her and collected the cash. I quickly returned back to the office and decided to capture the money as you can see below and make this story. This is why I am super happy now.
Cash shortage an ongoing challenge
For today, I will manage this money and get the stuffs needed at home. It will go a long way. We are still optimistic the situation will change soon. The presidential election has come and gone. The tension and all the fights for who will win, will eventually settle. Hopefully, the new notes would be allowed to circulate.
For today, I feel happy, being able to get these notes and spend them on really important things. I will be planning to get more by tomorrow. We live for each day and hope for the best.
Note: This is my first post in this community. Hoping to do more in the coming days.