National Economy
Monday, September 15, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Lead-In

Why Have The Clouds Not Rolled Away Yet?

by Rarzack Olaegbe
2 years ago
in Lead-In, Click Send
Reading Time: 2 mins read
Away
Share on FacebookShare on TwitterShare on Telegram

You May Like

NPA Deploys Electronic Barriers To Curb Lagos Port Diversions

Local Airlines To Pay Duty, VAT On Aircraft, Tickets 2026

This is the weather forecast. It is gloomy. The Nigerian Meteorological Agency (NIMET), has predicted three days of sunshine and cloudiness this week. It predicted sunny skies on Monday. There will be patches of clouds over the northern region throughout the day.
The agency forecast thundery activities over southern parts of Borno State during the afternoon to evening hours. The cloudy skies would prevail over the North Central states. There are slim chances of isolated thunderstorms over Kwara State during the morning hours.
There will be cloudy skies over the inland and the coastal cities of the South in the morning hours. There are chances of rain over Imo, Bayelsa, Akwa Ibom, Cross River, and Rivers.
On The One Hand
It is still cloudy. The weather is not in favour of anyone. You cannot predict when the rain will come. But it is still cloudy. That is why the rain is here. The bank customers are still languishing under the sun. They are still expecting King Cash.
Although the CBN may have given the green light to allow the mint and the old notes to walk in the park until December. The pronouncement has not taken the heat off banks’ infrastructure deficiency.
Is it still a good idea to hold cash? Cash calms your nerves. It preserves your net worth. It is a good idea to hold some cash now. Cash gives you options. The psychological medicine of holding cash cannot be underestimated. Imagine not having money in your investment portfolio for a long time.
If you need to pay for anything, having cash is a comfort. Expenses occur. When your children’s shoes, car parts, and groceries need replacement, it is a comfort to know you can pay third-party cash to replace them. Without cash, some exchanges cannot happen in Lagos.
On The Other Hand
Why do you need cash? It is for transaction motives. For use as a means of exchange. For goods and services. For a meal or transportation. Especially where other forms of payment such as PoS and bank transfers are unavailable or unreliable.
The CBN naira redesign birthed such an ugly situation recently. The experience is not worth repeating. The Central Bank of Nigeria’s (CBN) naira redesign policy led to the mop-up of over N982. 09 billion from circulation.
The policy reduced the currency in circulation and compelled bank customers to rely less on cash for trading or transactions.Nigerians turned to debit cards, mobile transfers, and USSD codes for payments. But the experience was not palatable.
That is why cold cash can be a real comfort. Recently, I have noticed some bank customers languishing in the banking hall. Some cannot keep quiet about it. Why do you pay a customer N20, 000 when he needed N200, 000 to settle artisans?
In The Short Term
A bean cake merchant used to make N12, 000 every night as of early January. Last night she sold N4, 000. Her bean cake has gone cold because of the low sales. She has no PoS terminal. Cash has gone on AWOL.
Another pop and mom shop owner complained about low sales even though he has PoS.
I visited seven PoS terminals in my neighbourhood. Cash was unavailable. The five ATMs located on Adeniran Ogunsanya Street did not have cash either.
It is sunny. But why have the clouds not rolled away yet?

ShareTweetShare
Previous Post

Ponzi Scheme: No Respite As Nigerians Lose N300bn In 5 Years

Next Post

Fuel Subsidy Removal: Investments In Gas May Soar

ANOTHER GOOD READ

NPA Deploys Electronic Barriers To Curb Lagos Port Diversions
Lead-In

NPA Deploys Electronic Barriers To Curb Lagos Port Diversions

8 hours ago
Local Airlines To Pay Duty, VAT On Aircraft, Tickets 2026
Lead-In

Local Airlines To Pay Duty, VAT On Aircraft, Tickets 2026

8 hours ago
Federal Government Scraps 5% Telecom Tax To Ease Subscriber Burden
Lead-In

Federal Government Scraps 5% Telecom Tax To Ease Subscriber Burden

8 hours ago
Stop Motor Park Touts Now, Nigerians Tell Government
Cover

Stop Motor Park Touts Now, Nigerians Tell Government

8 hours ago
Nigeria, China Strengthen Ties On Maritime Sector Development
Lead-In

Nigeria, China Strengthen Ties On Maritime Sector Development

1 week ago
PenCom Issues New Pension Fund Reporting Rules
Lead-In

PenCom Issues New Pension Fund Reporting Rules

1 week ago
Next Post
President-Buhari

Fuel Subsidy Removal: Investments In Gas May Soar

Most Recent

How Fintech Can Untie Puzzle At  Bottom Of The Pile

How Fintech Can Untie Puzzle At Bottom Of The Pile

September 15, 2025
16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

September 15, 2025
Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

September 15, 2025
Nigerian U-20 Captain Daniel Joins Slovenian Club

Nigerian U-20 Captain Daniel Joins Slovenian Club

September 15, 2025
Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

September 15, 2025
Safe Skies: Phone Switched Off Or Airplane Mode?

Safe Skies: Phone Switched Off Or Airplane Mode?

September 15, 2025
Articulated Vehicles And Increasing Fatalities: A Call To Action

Articulated Vehicles And Increasing Fatalities: A Call To Action

September 15, 2025
‘Africa Can Generate $3.5trn GDP From AfCFTA’

‘Africa Can Generate $3.5trn GDP From AfCFTA’

September 15, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy