By Sola Oni
On Thursday, February 2, 2023, during a zoom interview on Channels TV, the National President, Association of Mobile Money and Bank Agents in Nigeria, Mr Victor Olojo, was put on the spot over the current naira crisis. The Central Bank of Nigeria mandates banks to pay customers with the new naira. The banks complain of inadequate supply of the new notes and innocent Nigerians are groaning under the yoke of the buck passing between the CBN and the commercial banks.
Responding to a question that the Point of Sale operators were taking advantage of the naira scarcity to charge those desperate to withdraw money huge interest, Olojo explained that his members also had to source for naira notes in many places, including filling stations at a cost.
