Naira Notes & Our Mental Health

"E dey dispense?" I asked.

The two women shook their heads as they squinted their eyes. The man beside them, had his thumb curved as he took it to his face, wiping off the beads of perspiration that had formed.

How long had they been there? two, three hours? This was the fourth bank I had come to. The story was the same; no cash.

On October 26th, 2022, the Governor of the Central Bank of Nigeria, Godwin Emefiele announced that new Naira notes would be introduced to replace the current 200, 500 and 1000 Naira notes.

This news came as a surprise to many Nigerians as the one thing on everyone's mind was the forth coming elections. When the images of the new notes, were released, concerns were raised about the durability and colour. However, by Monday last week, there was more to worry about as the deadline for the eradication of the old notes approached, as well as cash scarcity.

Most banks had stopped dispensing cash and currency racketeers were making a boom off the black market.

Considering the forthcoming election and the current fuel scarcity, this new development poses a threat to the mental health of Nigerians. If the cash scarcity prevails, more Nigerians will go to bed hungry. If money becomes a scarce commodity in itself, what would happen to our economy?

By Sunday, the CBN governor had extended the deadline till February 10th. This seems fair enough but I especially hope this guides us in choosing good governance and leadership in the forthcoming 2023 elections.

How has it been at your end though? Share with me.