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How Is Cash Availability In Your Area? - Business (4) - Nairaland

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Re: How Is Cash Availability In Your Area? by kerry57: 7:23pm On Dec 21, 2023
zyphr:


Please what is the current CFa to naira exchange rate?

Bro it depends on who u are exchanging from in the black market. I,000 CFA is #1,500 and at times it can be up to #1,700 in the black market. It should ordinarily be around #1,400 for 1,000 CFA in the parallel market though that is around 1 CFA equals 1.4
Re: How Is Cash Availability In Your Area? by Oju4190: 7:35pm On Dec 21, 2023
Why is it dat it is wen Christians are about to celebrate deir feast of Christmas that all dis rubbish use to happen.......I am suspecting something

1 Like

Re: How Is Cash Availability In Your Area? by lordnkem000(m): 7:37pm On Dec 21, 2023
Beuberry:
Terrible. I m tempted to do runs.
This regime breeds hunger!
Help o!
My friend pls don't ever consider doing runs okay, just manage whatever you have and try to get a supportive job

2 Likes

Re: How Is Cash Availability In Your Area? by Chetas81(m): 7:41pm On Dec 21, 2023
I DON'T KNOW WHAT GOD REALLY WANT TO GAINED BY USE THIS TYPE OF CITIZEN TO BUILD A NATION LIKE NIGERIA, SEEEEEEEE WHAT THE NIGERIAN CITIZEN BECOME, ONLY IN NIGERIA THE DEVILS WANT AN ANGEL TO RULE, YOU FORGET THAT YOU'RE 😈 THE SAME DEVIL WILL CONTINUE TO RULE YOU,NO MAGIC

1 Like 1 Share

Re: How Is Cash Availability In Your Area? by namedo: 7:43pm On Dec 21, 2023
True.
This is really despicable!
Chicagograduate:
I withdrew 13k with 600 charges from a pos vendor yesterday in a Delta community.I was mad.

Nigerian banks have become fraudulent.They hide cash from customers and sell to pos vendors to make illegal profit.
Re: How Is Cash Availability In Your Area? by Chetas81(m): 7:45pm On Dec 21, 2023
Oju4190:
Why is it dat it is wen Christians are about to celebrate deir feast of Christmas that all dis rubbish use to happen.......I am suspecting something
nothing would ever change from demoralised nation like Nigeria
Re: How Is Cash Availability In Your Area? by Bliztzer: 7:48pm On Dec 21, 2023
post=127560296:

Just imagine,
Nigerians are the problems of Nigeria.

When we say we are our own problem they start grumbling.....

Okay listen to these examples:

1. You sell chicken and add over 40% profit ,you are happy forgetting that the person that bought the chicken sells tomatoes and pepper.

2. the tomatoes and pepper seller has to recover the excess she paid for the chicken, so she adds her own 42% profit margin.

3. Teacher will come and buy these 2 items with what? She has no other alternative than to increase lesson fees or school fees.

4. You will go and rent house from a landlord who has paid excess for cement, sand, chicken, tomatoes and pepper, lesson fees, how will he meet up if not by increasing his house rent by 60%.

And the circle continues, it is not about dollars, dollars is just an excuse, abi wetin concern garri, beans and yam with dollars.

The problem is you and I and our excessive greed.


And for the bad and corrupt politicians since 1960 up till present that took our darling nation 100 years back.
They will never go Scot free in their looting and criminal lifestyle.....including their supporters.

Back to the topic,
But as for ALL of us at dem MANNABBQGRlLLS........
As long as God lives.....

The most sensible comment you ever made. You don turn change small.
Re: How Is Cash Availability In Your Area? by hstar: 7:57pm On Dec 21, 2023
Why?
Re: How Is Cash Availability In Your Area? by siaco(m): 8:01pm On Dec 21, 2023
post=127560296:

Just imagine,
Nigerians are the problems of Nigeria.

When we say we are our own problem they start grumbling.....

Okay listen to these examples:

1. You sell chicken and add over 40% profit ,you are happy forgetting that the person that bought the chicken sells tomatoes and pepper.

2. the tomatoes and pepper seller has to recover the excess she paid for the chicken, so she adds her own 42% profit margin.

3. Teacher will come and buy these 2 items with what? She has no other alternative than to increase lesson fees or school fees.

4. You will go and rent house from a landlord who has paid excess for cement, sand, chicken, tomatoes and pepper, lesson fees, how will he meet up if not by increasing his house rent by 60%.

And the circle continues, it is not about dollars, dollars is just an excuse, abi wetin concern garri, beans and yam with dollars.

The problem is you and I and our excessive greed.


And for the bad and corrupt politicians since 1960 up till present that took our darling nation 100 years back.
They will never go Scot free in their looting and criminal lifestyle.....including their supporters.

Back to the topic,
But as for ALL of us at dem MANNABBQGRlLLS........
As long as God lives.....

You forgot to mention that fuel is almost 700 naira and that controls everything in this country.
Re: How Is Cash Availability In Your Area? by Yohdarlng(m): 8:02pm On Dec 21, 2023
I'm a PoS attendant. The problem with cash scarcity is the rampant hoarding and an increase in economic activities during the festive season.

All the new notes have already been released into circulation, so there is no money in the bank vaults, it's all in the economy.

The people that have cash at business people but they've seized this opportunity by selling cash to us instead of depositing in the banks.

The banks are now deprived of liquidity while cash is brought and sold between traders PoS attendants and the masses.

But I suspect that things would ease off before the 2 week of January when traders would prefer to deposit their huge profits in the banks than liquidity can begin to return to the banking system.

And no, bank staff do not sell money to us, we get cash from traders. In Calabar, no bank can give you up to N50k, be you who. I'm not speculating, this is what I've seen as I hustle for cash everyday.

As the crunch tightens, the traders we get cash from hike their rates, the result of this is a spike in charges.
Just a week ago, I was charging N150 for N5k, and N300 for N10k. I now charge double of that now to help me recover costs and make a profit.

It's now very stressful to get cash as you are competing with other vendors who are ready to pay anything to the traders to get the cash they need to run their business. Just today my cash plug told me that he'll be charging more for the cash I get from him because of the competition. so I suspect that things would get worse next week, before things begin to ease off in Jan.

Even us are tired, but you need money to make money and as the the cost of business increases, it's the customers that bears the brunt as a result.

7 Likes

Re: How Is Cash Availability In Your Area? by GreaterFuture(m): 8:05pm On Dec 21, 2023
kerry57:
Expected. We are pumping cefa in badagary border here. So nothing concern us with naira scarcity. If I tire I go go Ghana go spend cedis next week. I feel like going on holiday in one of those Ghanian reserves.
Pls What do you mean by Ghana Reserves?

The Cefa pumping, is it cos most of your Business & living is at the border, so no worries about spending Naira?
Re: How Is Cash Availability In Your Area? by stasius: 8:11pm On Dec 21, 2023
We don't notice it here
Re: How Is Cash Availability In Your Area? by Walz001: 8:11pm On Dec 21, 2023
Normal Normal Na Emefiele Cause am
We will all be alright last last

The case of Nigeria is heading to Only The strongest survive it
Re: How Is Cash Availability In Your Area? by Walz001: 8:16pm On Dec 21, 2023
And no, bank staff do not sell money to us, we get cash from traders. In Calabar, no bank can give you up to N50k, be you who. I'm not speculating, this is what I've seen as I hustle for cash everyday


Here you said Banks dont sell cash which is a big lie though but later you put an abbreviation that it's in calabar
Here we buy cash from business owners banks and traders
Re: How Is Cash Availability In Your Area? by SeriouslySense(m): 8:24pm On Dec 21, 2023
smiley
namedo:
True.
This is really despicable!
Re: How Is Cash Availability In Your Area? by hstar: 8:31pm On Dec 21, 2023
naturefellow:
schizo!
Na today u know say schizophrenia dey worry am?
Re: How Is Cash Availability In Your Area? by gidjah(m): 8:35pm On Dec 21, 2023
Try doing the reverse with a POS AGENT and see ? You will pay heavily for that same amount you were charged #500.thats the fraud we been talking about. our selfishness and Poor value for knowledge aches me in this nation...I have over #300k with me as we speak at home.aint taking it to d bank untill after the yuletide , meanwhile, I spend from it daily instead of going around sorting funds from any vendor at exorbitant price .
flexyrule:
Just paid 500 to deposit N50,000 into my account 30 minutes ago.

The second packet is even here with me...


Banks are paying up to 1m here.
Re: How Is Cash Availability In Your Area? by Dannydavito: 8:35pm On Dec 21, 2023
ABA is flowing with enough cash in circulation. NORMALCY OF CASH IS OUR SURNAME HERE IN ABA
Re: How Is Cash Availability In Your Area? by Switinthemiddle(m): 8:40pm On Dec 21, 2023
Compliments of the season to y'all. the cash scarcity hit me hard today o. went to the bank to get cash was told the maximum amount we could get was 10k and it was all in 100 naira notes. lol come see me with bundle of money like say i dey work for bureau de change
Re: How Is Cash Availability In Your Area? by Emeskhalifa(m): 8:46pm On Dec 21, 2023
Godoverevery:
In lagos there is no cash scarcity......POS are even fighting for customers

You are not being sincere and you self know that
Re: How Is Cash Availability In Your Area? by Beuberry(f): 8:48pm On Dec 21, 2023
jubrilELsudan:



HOW MUCH SHORT-TIME
If I see N25K, I go happy.
Re: How Is Cash Availability In Your Area? by Beuberry(f): 8:49pm On Dec 21, 2023
Renman:
Why are you an Ashewo
I m not an ashewo.

Re: How Is Cash Availability In Your Area? by Godoverevery: 8:49pm On Dec 21, 2023
Emeskhalifa:


You are not being sincere and you self know that

Are you finding it difficult to get cash where you are in lagos??
Re: How Is Cash Availability In Your Area? by Beuberry(f): 8:49pm On Dec 21, 2023
Trophy12:
na woman u be abi man am 🤔
woman

1 Like

Re: How Is Cash Availability In Your Area? by PaulH07: 8:57pm On Dec 21, 2023
Beuberry:
Terrible. I m tempted to do runs.
This regime breeds hunger!
Help o!

If na you be this for here, abeg no do runz oh, make dem no go runz you cheesy
Re: How Is Cash Availability In Your Area? by gaudyangel(f): 9:08pm On Dec 21, 2023
There is nothing like that here in Aba, Abia state
Re: How Is Cash Availability In Your Area? by jubrilELsudan: 9:08pm On Dec 21, 2023
Beuberry:

If I see N25K, I go happy.

WHAT'S YOUR LOCATION

HOPE SEY YOU DON SHAVE YOUR KUKUNASE OOOO

Re: How Is Cash Availability In Your Area? by Emeskhalifa(m): 9:10pm On Dec 21, 2023
GoWithGood:


You should ask first if i need to transport myself to my bank. No, i dont need to do that.

Also, consider when large amount of money is involved.


There are pos guys out there that can swallow whatever amount you think you have that you think is large. All those small small boys and girls you see doing pos are mere attendants, their ogars wey send dem dey office or house the control the business o

1 Like

Re: How Is Cash Availability In Your Area? by Emeskhalifa(m): 9:12pm On Dec 21, 2023
Godoverevery:


Are you finding it difficult to get cash where you are in lagos??


Ikeja wey u talk about na lie

Last week
I went there
Gtb na 10k
Globus 50k
Uba 50k

Atms not working
Re: How Is Cash Availability In Your Area? by galantjoe(m): 9:22pm On Dec 21, 2023
There is no cash scarcity. What we have is apparent scarcity caused by seasonal hoarding of cash to celebrate Christmas and new year. It is usual occurrence that between 1st Dec to 25th Dec every year; there is always cash scarcity. Because during this period all savings made in year will be withdrawn or spent. So there is need for more cash in circulation to cushion effect of increase in cash usage. This cash scarcity will end on 26th Dec by then those money will start to return back to the bank
Re: How Is Cash Availability In Your Area? by Zxcvbnmghtr: 9:23pm On Dec 21, 2023
samogo1:
So now is it Emiefele that is causing the scarcity? Even when we have more money in circulation ( old and new notes)

Useless APC.

Poverty.

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