In early 2023, the Nigerian naira experienced a cash crunch mainly because the government, in an attempt to introduce new currency notes, delivered an insufficient quantity into circulation. This decision was aimed at reducing vote-buying during elections, but it backfired, leaving banks and ATMs severely short of cash.

I've personally seen the impact of currency shortages, and it's seldom pleasant. Imagine queuing for hours only to leave empty-handed because the bank runs out of cash— that's what many Nigerians faced. The insufficient supply of the new notes left businesses and individuals in a lurch, unable to conduct basic transactions. This resulted in several protests and economic challenges throughout the nation.

In my experience, such policy changes need careful execution, and it seemed like this one was a rush job without considering the potential implications. A mix of poor communication and logistics led to the situation spiraling out of control, leaving citizens frustrated and financially stranded.