The resilient nature of Nigerians, even in the face of many challenges, is second to none. This played out surprisingly in the first quarter of this year, 2023, that just ended. It had been predicted that Nigeria would collapse since 2015, however, the country pulled through, but that it should not be over stretched because of human frailty. Apart from the buildup to the general elections, which had come and gone, the cashless policy of the Central Bank of Nigeria (CBN), which took its toll on everybody as it claimed lives would always be remembered. During the period, banks were shut, Automated Teller Machines (ATM) were only used to make transfers. People on daily basis resumed early and crowded the bank premises, and had to leave after waiting for long hours without getting cash to attend to their needs. It was like a war situation! It is now on record that there was a period, and probably the first time in history, that Nigerians bought their own currency notes at a higher rate in exchange for certain amount.
It was a situation that gave nobody joy but rather increased the people’s hardship. Besides, many argued at that time that the cashless policy was a good one but wrongly timed, and badly implemented because one of the set objectives which was to mop up cash from the hands of corrupt politicians was not achieved. The policy surprisingly, added to the catalogue of challenges of this administration, which was happening alongside the fuel scarcity and other sundry national maladies that kept the people talking across the length and breadth of the country. There were allegations that the cash squeeze was targeted at some high profile individuals who had the intention to rig election, but by and large, those that suffered most were the masses throughout that period. Policy summersaults and lack of political will to implement people oriented programmes have remained the challenge of our society, especially in this present administration. For the past eight years, there have been serious lamentations on all fronts, such that people are wondering the kind of democracy that is being practiced in Nigeria after the president pledged allegiance to the rule of law when he assumed office eight years ago.
Alas, it has been from one suffering to another, since the advent of this administration, yet the citizens have kept faith with the hope that all shall be well. Without gain saying, citizens have had it up to their neck and may not be ready to go through the same torturous experience, given the tendencies still holding down the country. The fall of a yellow leaf they say is warning to the green ones. The incoming administration without any iota of doubt may have learnt a lot from the pitfalls of President Muhammadu Buhari administration which would be handing over power to the president-elect in few weeks’ time. We have heard from one quarter that the cashless policy may be reversed. Whether that would be or not, what the average Nigerian wants is to walk up to the bank and transact his/her business without hindrance of any form.
What this means also is that government should think through any policy before its implementation because the citizens cannot again afford to go through the rigours of a similar exercise that nearly grounded the country and made people to suffer unduly. Now that the banks have resumed full operation, following the reintroduction of the old naira notes, we want to believe that the system would remain seamless, even when the new president assumes office in May, 2023. However, we commend the government for bringing back the old naira notes which has substantially reduced the sufferings of the people in the past few weeks. That Nigerians braved the odds and kept hope alive even when there was no cash for families to spend for months presents us as peculiar people. We urge the political class to learn from the mistakes of the past and indeed, chart a new course for the country and her citizens to thrive in every facet of life. The ultimate goal is winning the support of the people. What Nigerians want is a country that is thriving and not a testing ground for politicians who have not really cut their teeth in the act of governance, going forward!
