If Nigerians were told that there was going to be cash crunch this year and they need to tighten their belts, nobody would have believed or taken the information serious.

The periods in review especially the months of February and March were the most difficult times in the history of the country, while some lost their lives due to depression, others died from health related cases. Those who scaled through also had their own share of complaints and hardships.

There is no doubt that that time was very tough hence many adjusted their lives to suit the situation. The banks became the residences of some people who were visiting there on daily basis and queueing for hours at ATM points.

Some resumed at the bank as early as 5am in the morning and still don’t get access into the premises till the close of work. The following day, they return again while some were lucky, others were not hence they kept visiting.

The most prominent amongst them were those who did transfers and their monies were hanging and needed to make complaints for their monies to be reversed.

The hours of manpower were wasted in banks and at ATM points during the cash crunch. The people doing that have no choice because many of them survive from daily transactions.

Meanwhile, people capitalized on situation and that period was not different. It was a time for some people to lie. Many people were hiding under the pretence that they cannot access their monies in the banks in order to avoid pressure from their creditors or dependants, who were always demanding for money from them.

And some who don’t even have bank accounts let alone money in the banks were hiding under the lies of transfer network problems especially when there is need to make payments.

Another funny scenario which has never happened in the history of the country is people buying Nigerian currency – they were buying naira. And the annoying aspect is that the exchange rate was very high. For instance, people were charging as high as N2000 to N3000 for N10,000 unlike the N200 they were charging for POS before but some people were collecting because they have no choice and they needed cash for their businesses.

The filling station owners/fuel attendants made matter worse as they insisted on cash, not even the usage of POS machine or transfer because they were also selling naira hence making it difficult for people to purchase fuel. Many people were forced to park their vehicles because of that.

Weeks before the cash crunch started, there was cash but there was fuel scarcity and when the cash crunch started, fuel queues disappeared but queues kept appearing at filling station because people were queueing to use POS. Some were not lucky during that period because of bank networks. Some people’s monies were deducted from their banks but not seen in the account of the filling stations hence they had issues.

Mechanic workshops were also not left out as many vehicles were abandoned because of their inability to access funds as spare parts dealers were also insisting on cash not even transfer. Nobody will blame them because most transfers done during that periods were hanging due to transfer network problems.

Even though the period was not favourable to Nigerians, many saw it as an opportunity to be prudent in their spendings. Bitrus Okoro, a passerby, who spoke with our correspondent said he was able to manage N5000 for more than four weeks, an amount he would have spent in a day.

According to him, “Everything that has a disadvantage also has its own advantage, and that period I was able to spend wisely. I was very prudent because I don’t know when and where I will get the next cash.

“For instance, I trekked distances before boarding vehicles or bikes to reduce cost. Whenever I am driving, I carry food or biscuits and water along because of ulcer to reduce spending on food and drinks outside my home, because I always have foodstuffs at home even before the cash crunch started,” he concluded.

Mrs Gloria Azubuike said she enjoyed the period a little bit even though it was tough. According to her, her husband always comes home early because there was no cash to sit at beer parlour or what they call lounge today.

“Before then, he spends a lot at lounge drinking pepper soup or eating roasted chicken or fish with drinks with friends but that period his money was not only intact in bank but he was always at home to keep me company. Remember, when the cash problem started, people were rejecting transfer or POS usage until CBN intervened with some few cash in circulation. So the period also had his own advantages especially for men who are always in the habit of staying away from home,” she said.

We also gathered that some transporters were using POS and for those who don’t have, they advised the passengers to do transfer immediately they board their vehicles and for those that claimed that they don’t have data, the drivers gave them to avoid any excuse but some are not ready for such stress hence they insist on cash.

Many private car owners also saw it as an avenue to get cash in their pockets hence they were picking passengers while going or returning from work.

Market traders ran into loss because of low patronage and those into perishable goods had their products go bad. Those who are not into perishable goods gave conditions to their customers. They will tell them to add extra money if they are making transfer or pay exact amount if they are paying cash.

Before now, banks and other financial institutions were begging people or giving POS machines for free but during the period, many people acquired the machines to make business easy for them and they were paying heavily to acquire it. And because of that, some people were carrying it around to avoid excuses.

Many artisans missed businesses because of their inability to access cash to board bike or vehicles to go for such jobs (services).

Security personnel who are in the habit of extorting did not find that period funny as they were unable to carry out their enterprise as motorists couldn’t as usual show them love. And because of that, roadblocks disappeared because it was no longer profitable to stand on the road.

Traffic gridlock also disappeared because there were few vehicles on the road. Those who could not go through the stress of queueing for POS at filling stations or don’t have cash to buy fuel preferred to go with their friends or relatives or go with public transportation hence making the numbers of vehicles to reduce on the road.

However, during that period, chemists and pharmacies make brisk businesses as they were more busier than hospitals because people were trying to manage the small cash with them. They believe there won’t be any need paying for cards, tests and others in hospitals compare to chemist or pharmacies where they will just buy only drugs.

The funniest aspect of all the scenario was that Bankers resorted to changing their outfits. They were at liberty to dress in native clothes or dress corporate without ties for fear of being attacked hence it was holiday periods for those who don’t like wearing ties.

The Bankers were doing that because they were handicapped, no cash, network problem, the issues were beyond their controls. And some of them were unable to manage the situation hence some customers vented their angers on them. Today, customers in banks have reduced because many people have stopped using their bank accounts and because of that, many banks have started laying off some staffs.

Today, a new government is in place and Nigerians hope that there won’t be a repeat of such experience even though it has its own advantages especially prudency.