ABSTRACT

The study investigated the scarcity of currency in Nigeria that began under Buhari's Administration. The scarcity of currency is a prevalent challenge with significant implications for the Nigerian workforce. The study sought to find out the challenges and consequences that shortage of currency had on the daily lives, financial transactions and overall economic wellbeing of the Nigerian workers with the goal of identifying solutions or recommendations to address these challenges and improve the financial and economic conditions of the Nigerian Workers. The method of data collection involved the use of questionnaires and interviews. The total population of the Study was four thousand, five hundred and sixteen (4,516) Nigerian Union of Road Transport Workers (NURTW). The sample size was one hundred (100) road transport workers. One hundred (100) questionnaires were distributed and returned while another ten (10) members were interviewed. The methods of data analyses used were quantitative and qualitative. The technique of the quantitative data analyses involved the use of frequency distribution table and percentages. The findings showed that the scarcity of currency had great negative effect on Nigerian workers; it was difficult to afford the basic things of life like food, and payment of light bill; employers found it difficult to pay their workers; their were long queues at the banks; standard of living was reduced. The study recommends enhancement of currency management practices including printing, distribution and circulation of cash; adoption of digital payments system; investing in financial programs to empower workers with knowledge and skills to make informed financial decisions; reduction on the dependency on oil revenues and promotion of economic diversification and  investment on vocational programs for workers' resilience in times of currency scarcity.