Nigerians in the past few weeks have been faced with the challenge of scarcity of the Naira note. This is following the Central Bank of Nigeria policy, that direct the restriction of the old 200, 500 and 1000 naira note from circulation and directed the circulation of the new printed notes.
However, this has come with challenges as Nigerian are unable to access the new Naira notes from the banks.
Across the country has witnessed report of assaults, arson and battery following the frustration caused by this draconian policy, as one cannot access his /her cash from the bank, and most of the bank online banking services are shutdown.
Some say, this is a means of tackling inflation, however the frustration and chaos caused by this is too much to be overlooked.
Nigeria students are also not left behind in this toll of events. They haven't found it funny either.
Today, Friday 10th of February, 2023, the ACW-UA PRESS Team, comprising of Goodness Ojonoma Abah, and Jacob Sunday led by Dominic Izuchukwu Nwobodo, (the current President of ACW-UA) conducted a survey, research, and interview sessions regarding the issues amongst the students of the University.
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The results of the survey showed that a majority of the students are extremely frustrated with the current cash scarcity situation in the country. Many of them expressed that the situation is appalling and that the exorbitant charges for POS transactions have only added to their frustration.
Aisha Ayomide, a student of Micro-Biology, commented that the scarcity has resulted in students missing lectures, being unable to complete their projects and spending countless hours in long lines at banks. "I have miss lectures for over a week, because I couldn't enter public transport from my house at Iddo to school without cash. This is unbearable"
This has not only caused frustration for the students but has also put a strain on their education. Many of them expressed their concern about how the situation is affecting their academic performance and their future prospects.
Chiamaka Ibe, a student of Agricultural Science said, "This issue will affect the academic performance of a lot of students"
However, many students pointed out that the issue of cash scarcity is a national issue and that the government is largely behind it. They believe that the university can tackle this issue by building more banks within the school premises and making it compulsory for students to use these banks for their transactions. This way, students can avoid paying the high charges for POS transactions.
"The University should build more ATM machines in on campus. All our ATM machines are gone. If there are ATM machines, POS will not charge much" said Dalong Selman who kept his department anonymous.
However, some students believe that the issue of cash scarcity cannot be solved by the school alone. They argue that the government must be involved in finding a solution.
Speaking to ACW-UA PRESS team, an elderly man, who is identified himself as Mr. Titus advice the government on how to address the issue. He stated, "The government needs to do a better job of circulating the new naira notes in the country. If people can access their money more easily, it will go a long way in alleviating the stress and frustration caused by the cash scarcity."
How about you what do you think about the cash scarcity.
How is it affecting you as a student?
Correspondents : Dominic Nwobodo, Goodness Abah and Jacob Sunday.
Compiled and reported by Dominic Nwobodo.
Edited by ACW-UA PRESS EDITIONAL
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