Naira Scarcity: Traders, Food Vendors Others Accept Transfers

Some food vendors, traders and hawkers in Lagos State have resolved to accept bank transfers from their various customers not to miss out on some sales.

The traders in separate interview on Friday, said that they had no other choice in view of the prevailing situation in the country.

A food seller in Oshodi, Mrs Comfort Akpan, said that most of her customers forced her to accept bank transfers as their means of payment for the food.
According to her, some of the customers do transfer as low as N400 and N500 as the case may be.
“Most of my customers, as a result of lingering challenges associated with the cashless policy in the country, have forced us to accept bank transfers to pay for their foods.

“I sell rice and beans in Oshodi Market and I know what it cost me to transport myself to the market.

“On a daily basis, I spent N1,500 as transport from Sango in Ogun to Oshodi Market to and fro to sell my food.
“So, I have to accept bank transfers from my customers to meet up with my usual daily sales, because transportation itself to the market is a big challenge” she said.

Also a trader in Oshodi, Mrs Modupe Lawal, said that she accepted bank transfers to keep her customers and to make her daily sales.

Lawal said that she resolved to accept bank transfers as a means of payment due to lack of sales within the last two weeks.

“We have experienced a lot of challenges in the market due to this recent cash crunch in the country.

“Some of our customers are ready to patronise us but the cash crunch situation in the country has hindered them to purchase their usual commodities.

“I sell second hand Jean for children and adults, and I have seen many of my customers waving at me saying there is no cash at hand.

“So I tell them to make transfer so that I can meet up with my sales,” she said.

Mr Seun Adelowo, a trader in Ikeja, said that majority of the traders and market hawkers had decided to accept bank transfers from their buyers.

Adelowo said that the greatest hiccup in the transactions was the network services of the bank involved.

“We also have challenges of networks during the process of the transactions, some banks might not have strong network that will accept the payment at that point in time which affect our sales,” he said.

Afeez Shoyemi, a barber in Ikeja said that he accepted transfer as a means of payment if the customers were not with cash.

Shoyemi said that “some of them do transfers of N500 and or less as the case may be for their services.

“This is not the fault of anybody, it’s the government policy, so we have to abide by the present demand of the authority but the masses are mainly paying the price,” he said.