By Dele Sobowale
“Cash Scarcity: People are hoarding bank notes – CBN.” VANGUARD, December 14, 2023.
Governor Cardoso and his new team at the top of the Central Bank of Nigeria, CBN, can be forgiven if the current cash scarcity being experienced has caught them by surprise.
They were not in office in
March, when it was predicted on these pages that another round of cash scarcity
was inevitable; after the one induced by the CBN then. Before going into the
reasons why we are not free of this problem yet, permit me to make one
observation; which will be helpful to the current CBN Management.
Statements such as “people are hoarding cash” are more emotional than technical
or professional; and they seldom solve the problem.
