IN DEPTH This article is part of the dossier: Corona Chronicles: 6 April – 10 April By Oluwatosin Adeshokan, in Lagos Posted on Monday, 6 April 2020 09:47 People queue at an ATM, as authorities try to limit the spread of the coronavirus disease (COVID-19) in Abuja, Nigeria 30 March 2020. REUTERS/Afolabi Sotunde Nigeria's Lagos, Abuja and Kaduna have announced lockdowns and other restrictions to movement. In these cities, retail banking operations are expected to grind to a halt. Around the country, banks are announcing that branches outside of locations already on lockdown will be running skeletal operations. In the case of Standard Chartered Bank and a few other banks, they will be closing by 3pm daily. While Nigeria has one of Africa’s largest economies, large portions of the economy are in the informal sector and depend on cash. Although the central bank has touted a ‘cashless’ policy for years, several new policies have made that policy muddled. But, in countries like Kenya wh...
Comments
Post a Comment