Naira Trading Boom: Bankers Collusion Worsens Cash Scarcity Across Nigeria

Nigerian naira traders are benefiting from a surge in demand for cash, capitalizing on the scarcity caused by bankers' alleged collusion and government-imposed restrictions. Hawking of naira notes at exorbitant rates has become increasingly common nationwide.

Business activities have seen a significant boost in recent times as traders are capitalizing on the scarcity of naira notes by selling them at exorbitant rates across the country. The lack of availability of cash at banks has led to a surge in hawking of naira notes, with vendors offering high prices for the limited currency in circulation. This has created an opportunity for entrepreneurs and traders to capitalize on the situation, leading to an increase in business activities. As a result, many are taking advantage of the scarcity to make significant profits by selling naira notes at inflated rates.