CBN: Cash Scarcity Is Here To Stay For A While

 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.

Addressing Failed Government Policies That Fuel Food Inflation

By Adefolarin A. Olamilekan

Food, food and food remain the most constant nutritional and vitamin value humans cannot do without. Our existence depends on it or else humanity will go into extinction. We cannot dare joke about the lack of food. Nobody has made food its enemy.

These are the reasons why serious nations make deliberate efforts toward not just having food security, but making it strategically abundant, available, and affordable for the people. In other words, there is greater attention to government policy direction that defines food, essentially, as the number one priority on the scale of preference. In this regard, the policy to make food available all year round and affordable is not toiled with no matter how the economic technical conundrum calls it inflation or food inflation.