During the naira crisis in 2023, I could not buy foodstuffs because market women refused to collect transfer payments. The restaurant beside my house also rejected electronic transfer payments. Although in accountancy, there is no difference between cash held in a bank and a fiat currency, as I lay in bed with an empty stomach that night, I admitted that cash in hand is king in times of uncertainty.
The World Bank 2021/2022 data revealed that…
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