Recent weeks have seen all Nigerians scurry for money as the financial and banking sector of Africa’s largest economy struggles to find balance after the redesign of the nation’s currency — the Naira. This comes at a pivotal point in the evolution of Nigeria, with the elections due to be held sometime in the month.
The writer ventured onto the streets of Lagos earlier this week and faced certain transportation challenges moving around the economic capital of the city. Upon getting to a major interstate terminal — Berger, named after construction giant, Julius Berger; it is observed that all banking institutions on the famous road are shut down. Withdrawals, deposits, inquiries and any activity having a similitude to bank transactions have suddenly become prohibited — all without prior notice given to the public.
In a country where financial inclusion still seems a lofty feat in spite of renewed efforts by the nation’s booming fintech industry, these events are a hard nut to crack. Commuters are at the mercy of traditional transport providers — keke, korope, danfo and okada as these small business owners have yet to catch up with their grandiose counterparts who accommodate transactions through e-channels. However, these grandiose counterparts are a luxury to most citizens and are often used during special events. Therefore in this season, their services seem much further out of reach for an average citizen.
What then is the fate of an average Nigerian without access to an efficient mobility system at this time? How can traditional transport providers evolve and maximize the imbalance in the financial system?
These are the thoughts of an average Nigerian trying to commute to and fro Berger to Ogba with no cash in hand and insufficient funds to ‘book a ride’
What is the way out?
With our fintech app “Casha!”, our Champions can & are receiving transfers. So, you can hop in one of our rides without cash & no worries…