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Naira Scarcity: Butchers Reject Bank Transfers, Give Reason



Naira Scarcity: Butchers Reject Bank Transfers,give Reason

Many meat sellers in various markets in the Federal Capital Territory (FCT), Abuja are turning down electronic funds transfers by their customers. They say they are unable to buy cattle from rearers without cash.

The butchers attributed difficulty in purchasing cattle to their inability to access naira notes, which is the only means of transaction acceptable to cattle rearers.

A check at Dei-Dei Food Market, Kado Fish Market and Dutse Market revealed that many butchers refused bank transfers, insisting on cash payment.

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It was also observed that most meat stalls had little quantity for sale to avoid decay due to low patronage.

Nasiru Musa, a butcher at the popular Dei-Dei market, said it wasn’t his fault that he refused transfers for purchase of meat.

“The people we buy cattle from said they don’t have account numbers and want cash before they sell to us, so why should I collect transfer?

“If the money enters my account through transfer, how do I pay the Fulani rearer who does not go to the bank or has a phone?” He asked.

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Mr Musa said his refusal to accept online transactions had reduced his sales because that was the only offer made by most buyers.

One of Mr Musa’s customers who identified herself as Tope Adelusi, said she was displeased that her regular butcher refused to accept bank transfer.

“He is my regular customer and I have been here begging him to accept the transfer but he has refused.

“I have told him that even after these hard times I will not patronise him again because what is the essence of having a customer who can’t understand the economy and assist others.

“It is not my fault that there is no cash in circulation, so why can’t we assist each other?” Asked a frustrated Mrs Adelusi.

Isiaka Babatunde, a butcher in Dutse market, said the meat on display at his shop was the only one left for sale, and that he had no plan to buy more.

Mr Babatunde said his decision not to buy more cattle was because he lacked the naira notes with which to purchase them from the rearers.

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“It is better I sell all the ones I have and just rest at home for now because I don’t understand what this country is turning into.

“The few people I have accepted transfers from will transfer and the money will hang, it is annoying,” he said.

Another Butcher, Emeka Agu, said because of the low circulation of the new naira notes, he had been unable to buy any cow.

He said it was unfortunate that he had money in his bank accounts but could not withdraw or transfer to his business partners.

He called on the federal government to ease the pain of Nigerians by finding a solution to the naira scarcity.

Hammed Tajudeen is a graduate of Osun State Polytechnic, Iree with Higher National Diploma (HND) in Mass Communication

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