The poor mobile service network at the Lagos International Trade Fair Complex, which houses three markets in Lagos, stalled commerce on Saturday. Traders told the News Agency of Nigeria that they were unable to transfer cash online, describing the situation as frustrating and unbearable. Many customers who purchased goods with the expectation of paying online waited for debit alerts until the end of the day without success, forcing the merchants to return the packed items.
NAN reports that the introduction of the newly redesigned N1,000, N200 and N500 notes, and the slow pace of their release by commercial banks as directed by the Federal Government, have caused hardship for the public. The government claims the cash shortage is intended to revamp the economy. Andrew Umeh, an article and confectionery distributor who also chairs Line Heads, said the cash‑less policy they have adopted is not helping because of the poor network. He appealed to authorities to improve mobile service in the market so that traders can conduct online cash transfers. “Since the government is finding it difficult to release cash to the system for reasons best known to them, they should please allow us to trade with better network service to encourage online cash transfers,” he said.
Business machine seller Chijioke Duru described trading as “herculean” because customers who bought items as low as N1,500 prefer online cash transfers. Duru lost a transaction worth N700,000 due to the lack of cash and the poor mobile network that prevented the customer from making a transfer. He warned that if the trend continues into next week, a large protest could become imminent. “We are tired of this frustration. The government should provide us with an alternative, a soft landing, by ensuring that the network is improved. Many of us rented these places with large sums of money, paying workers and levies; it is from sales that we obtain the money to meet these bills,” he said. He noted that the market was virtually empty because of the cash shortage.
A similar scenario unfolded at a relaxation spot in Tedi, Ojo, Lagos, where poor network issues prevented customers from transferring cash online after purchasing drinks and other items. The resulting altercation led owners to refuse customers’ departure until a payment alert was received—a notification that never arrived. Security operatives intervened, and the matter was settled with a signed agreement allowing customers to pay the following day if the expected alert did not come.
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