SIR: It is a well-known fact that majority of Nigerians are into informal economy. Millions earn their living through small and medium enterprises. The businesses under SMEs include cobblers, nail-cutters, barbers, motorcycle operators, taxi drivers, groundnut oil sellers, pure water vendors, newspaper vendors and host of others. These micro enterprises are collapsing every day as a result of the ill-thought out Naira redesign policy. It is obvious that the formulators of this policy did not have these categories of business owners in mind when designing their policy.
Take for example, how can one make transfer of N100 to an okada rider, taxi driver or a nail-cutter?
Today, the cash is not accessible because of this policy. To get even N2,000 is a tedious task. I could remember, the last time I withdrew N2,000, I had to stand in queue under the scorching sun for six hours.
What is even more worrying is that in spite of the ruling by the Supreme Court, the Central Bank of Nigeria (CBN) and commercial banks are yet to comply. This is dangerous. Nigerian leaders should help this country from derailing. We need leaders who respect the rule of law.
I therefore use this medium to call on President Muhammadu Buhari to comply with the Supreme Court ruling and direct the CBN to make cash available in the country.
•Comrade Bishir Dauda Sabuwar,
Unguwa Katsina.