The Human Rights Writers Association of Nigeria (HURIWA) has expressed deep alarm over the ongoing cash scarcity across the country, describing it as a glaring sign of economic collapse. The association highlighted the widespread hardship faced by millions of Nigerians who are unable to access their funds, especially in rural areas where digital payment systems remain unreliable.
In a statement issued on Wednesday by its National Coordinator, Comrade Emmanuel Onwubiko, HURIWA condemned the Central Bank of Nigeria (CBN) and its Governor, Dr. Olayemi Michael Cardoso, for what it termed “provocative incompetence.” The group criticized the CBN’s inability to manage cash flow effectively, describing the situation as a significant failure of monetary policy.
HURIWA noted that the crisis has disrupted economic activities nationwide, with long queues at banks and ATMs becoming the norm. Small-scale businesses, artisans, and daily wage earners have been hit hardest, pushing many into deeper poverty.
“The inability of depositors to access their money is a severe breach of trust in the financial system,” HURIWA stated. “This ongoing cash crunch reflects systemic failure and demands urgent action.”
The association also decried the naira redesign policy, citing poor execution and its role in deepening financial sector instability. HURIWA called on President Bola Ahmed Tinubu to intervene decisively to restore normalcy, urging the National Assembly to summon the CBN Governor for accountability.
Describing the crisis as a humanitarian emergency, HURIWA lamented the plight of vulnerable groups, including women, children, and the elderly, who struggle to meet basic needs such as transportation, medical care, and food due to the cash crunch.
HURIWA reiterated its commitment to holding public institutions accountable, urging civil society organizations and all Nigerians to demand immediate reforms. The group warned that without swift corrective measures, the country risks further economic collapse.
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“The Federal Government must act now to protect Nigerians and restore confidence in the financial system,” HURIWA emphasized.
