Naira observes scarcity: clergy are concerned, offer solutions

It is no news that Nigerians continue to face problems with efforts to meet the January 31 deadline for depositing the old currencies and the acceptability of the new, precisely N200, N500 and N1000 notes. However, the situation has not been a pleasant experience in recent days as many Nigerians have encountered tremendous challenges in going through the process.

The church is also not exempt from the challenges as it also uses cash that comes as offerings, tithes and others.

As the situation grows more difficult on a daily basis, churches and some clergy have spoken about the difficulties many Nigerians are facing during the January 31 deadline.

Tribune Church gathered that some churches have started informing and educating members in various ways to stop presenting old naira notes especially during services today. Although some megachurches have completely switched to the online banking system for giving and tithing, they still collect money from members.

Tribunekerk learned that some denominations and clergy have announced that the old notes will no longer be accepted in the church as of today (Sunday). As a result of the development, Tribune Church sought the views of some clergymen on the issues.

The Catholic Bishop of Oyo Emmanuel Adefoyese Badejo called on the federal government not to allow the new naira notes to bring further hardship to the masses.

He said that governance and policy should have a human face. The cleric said that scarcity of the new naira notes would cause distress to Nigerians.

“Many citizens are depositing their old naira notes without any guarantee of getting the new notes. The Central Bank of Nigeria’s insistence on the January 31 deadline for returning old banknotes would only be justified if it had taken all necessary steps to make new banknotes available to the largest percentage of Nigerians. Why should the general public suffer?

“The story is even more dire in large parts of the country where there is no banking service within a few miles. Aren’t those living there also Nigerians?

“The whole scenario is complicated by the crippling fuel scarcity which has pushed the price of petrol to N400 or more per liter in some places.

“All this comes on top of skyrocketing prices of goods and services, fueling the anger and frustration of struggling masses, with the 2023 general election just weeks away,” he said.

However, Badejo advised the Nigerian government and its officials to respond quickly to the current difficult times, adding: “If monetary policy is hurting the very people it is meant to serve, why can’t a change be made to its timing? and execution?”

Against the deliberate panic that may erupt in the church from today about failing to fulfill the mandate of the CBN, a source in the media office of the president and founder of The Sword of The Spirit Ministries International, Bishop Francis Wale Oke, who also doubles down as the president of the Pentecostal Fellowship of Nigeria (PFN), noted that the church will still accept the old notes before the January 31 deadline.

The source said the church will accept old notes on Sunday as it is still within the deadline limit. It was also revealed that the church will not discourage members from giving old banknotes as gifts or tithes and that the church will make due efforts to comply with government policy by depositing all old banknotes before the deadline .

Bishop Folarin Obey-Fabiyi of Decross Gospel Mission Church, Agege, Lagos State noted that the highest goal of the Federal Government and the Central Bank of Nigeria is to fully promote the cashless policy, but regretted that the government’s approach in implementing the policy is hard on the people.

The clergyman announced that the church is constantly striving towards the direction of the new wave of internet banking as a means of collecting gifts and tithes in the church.

“We have no choice but to stick to government policy. Church leadership has allowed members to bring old banknotes to church on Sunday in the hopes of depositing them in the bank on Monday. We don’t want to discourage people. Sunday is the last day on which we can accept old notes.

“We have increased all of the church’s database payments, including the online payment and POS availability in the church,” he added.

However, Bishop Obey-Fabiyi said that the main problem at the moment is that the new banknotes are not available and it will cause great inconvenience to churches and other religious organizations.

“This development will cause many crises. Meanwhile, this development will make many people spend money with their senses and force people to go e-banking. Above all, the government should not make the cashless policy an inconvenience to Nigerians. If they don’t handle this development appropriately, it could escalate into something else,” he added.

He instructed the government to also take into account the elderly in the church who believed so much in God and first the tithe of the money they hold, but are not familiar with internet banking. He urged the government to make the policy comfortable for everyone.

Prophet Bayode Olubo of the House of Favor Church, Egbeda, Lagos State, said there is no need for people to reject old notes before the deadline.

“My church is still accepting old notes until the deadline. Above all, God owns the church, He will find a way around it. I would urge Christians and all Nigerians not to panic about the whole process. Let’s all stick to the government and let God take the lead,” he said.

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