Ahead of the yuletide season, customers of Nigerian banks are currently experiencing cash scarcity in the banking halls and are forced to patronise roadside Point of Sales (PoS) operators that now dot every nook and cranny of the country.
This “anomaly” has been severally brought to the forefront as currency outside banks surged by 66.2 per cent in September 2024, reaching N4.02 trillion compared to N2.42 trillion in September 2023, a notable rise of N1.60 trillion in just one year.
This is according to the Money and Credit Statistics data of the Central Bank of Nigeria (CBN).
