BY MAYOWA SAMUEL
The tough economic situation in the country has forced over 5 million Nigerians to abandoned their bank accounts in 2021.
This was according to the latest fact sheet data published by the Nigerian Interbank Settlement System Electronic payment.
The data revealed that the total number of inactive bank accounts in 2021, stood at 57.9 million, representing a rise of over five million or 11 per cent when compared to 52.2 million inactive accounts in 2020.
The statistics also added that the numbers are expected to grow further as Nigerians continue to battle the rising price of goods and services.
A report by Picodi, an international e-commerce company revealed that the price of essential foodstuff requirement for one adult stood at N40,980 which is above the N30,000 minimum wage.
More so, seven states are yet to implement the minimum wage, as several Nigerians are still being paid below N30,000.
Recently, President of he Bank Customers Association of Nigeria, Uju Ogubunka, listed the drivers of inactive accounts in the banks to include the increase in the prices of goods and services, low income accompanied by the low purchasing power of Nigerians, increasing rate of unemployment and immigration, among other things.
