SMEs on Brink: OPS Warns of Collapse Due to Looming Cash Scarcity Crisis

The Organised Private Sector has urged the Central Bank of Nigeria to address the ongoing cash scarcity, warning that it may exacerbate the collapse of small and medium-sized enterprises (SMEs) due to liquidity crisis.

The Organised Private Sector (OPS) has expressed concerns over the potential collapse of small and medium-sized enterprises (SMEs) due to ongoing cash scarcity across the country. The OPS is calling on the Central Bank of Nigeria to address the issue, citing that Nigeria's current economic development level is not sufficient for a successful cashless transaction system. SMEs are particularly vulnerable to the effects of cash shortages, which can severely impact their operations and ability to provide essential goods and services. As the situation continues, the OPS urges immediate intervention to prevent a broader economic crisis.