The Kwara Coalition of Business and Professional Associations (KWACOBPA) says business community across Kwara State lost over ₦30billion daily as a result of the ongoing currency swap crises.

Chairman of the body which comprises of 21 associations and professional bodies, Alhaji Ọlálékan Ayodimeji disclosed this while addressing journalists in Ilorin, the state capital, on topical burning issues that affect business community and the general public.

Alhaji Ayodimeji said difficulties in accessing new redesigned naira notes by stakeholders, occasioned by the Central Bank cashless policy and new naira notes swap, at the same time had brought untold hardship on both macro and micro businesses.

While saying the body shared the pains and agonies of all Nigerians including business and professional men and women whose means of livelihoods are being disrupted by the development, he called on the CBN to redouble its efforts at providing and ensuring widespread circulation of the new redesigned naira notes.

Alhaji Ayodimeji also called on the CBN to support other alternative financial payment solutions, to ameliorate the unpleasant situation, which is gradually crumbling the entire economy of the nation.

He also noted with dismay that scarcity, long queues and hours spent at petrol filing station by Nigerians to buy the products being sold at far above official price had compounded the woes of nano, micro and small businesses.

The KWACOBPA chairman however called for total the removal of subsidy on petrol, which je said had been abused, instead money used to pay subsidy should be used to provide infrastructure that will add value to the nation’s economy and lessen her challenges.

He however called on Nigerians and indeed the business community to remain calm and resilient in the face of the current currency swap and forex crises, expressing optimism that the situation would soon be corrected.