Cash Crunch Forces Churches To Accept Offerings Via Bank Transfers

Just like the COVID-19 pandemic lockdown which forced churches to change some liturgical procedures to ensure safety of worshippers, the raging cash scarcity has led them to accept offerings during Sunday services through electronic transfer.

Unlike before when worshippers would file out from church pews with enthusiasm to offer God their token of appreciation, many now cling to their seats when it is time for offering while only a few match to designated points to drop the little cash they have in the offering boxes.

Nigerians have since January 2023 been grappling with the challenges of naira scarcity and its impact on various sectors of the economy, and churches are not spared of the disruptions.

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The shortage of cash was triggered by the withdrawal of old N1,000, N500 and N200 banknotes in January, as result of the naira policy introduced by the Central Bank of Nigeria (CBN). This led to long queues in banks and Automated Teller Machine (ATM) points as Nigerians struggled to get the new notes that has remain inadequate in supply.

POS agents, who equally had difficult times getting cash to serve their customers, did not spare Nigerians the suffering caused by the scarcity as they hiked their charges at an alarming rate.

The CBN’s plan was to reduce money in circulation in an attempt to boost implementation of the cashless policy.

This correspondent observed the church wardens at Christ the King Catholic Church (CKC), Ilasamaja, repeatedly appeal to worshippers to make electronic transfers of their offerings into dedicated bank accounts owned by the church as many were no longer able to give offerings in cash.

At St. Mary’s Catholic Church Isolo, the parish priest, Rev Fr Philip Egbuniwe, during one of the Sunday masses at the peak of the scarcity, announced that the church has adopted two options for members of the congregation to make their offerings – bank transfers and a POS where they can slot ATM cards to wire money.

One of the worshippers at CKC Church, Ajogwu Mark, said the new trend is to help the church navigate the difficult times caused by the scarcity of cash but worshippers are still grappling with adopting the electronic mode of giving offerings.

A pastor of one of the new generation churches in Lagos, who didn’t want to be named said the scarcity has impacted on the churches finances, especially tithe and other sundry donations that the faithful used to give through cash.

“we have, just like other Nigerians out there, been affected by the cash scarcity. But more than that, it has really affected the living standard of people, led to high cost of things and caused crisis among individuals involved in one business or the other due to failed bank transactions.

Even the adoption of other digital platforms like Opay and PalmPay hasn’t helped much as also people encounter delayed alerts and sometimes total failure,” he said.

With the gradual release of old notes by banks after the Supreme Court order which extended the use as legal tender to December 31, it is hoped that the scarcity will disappear in few weeks time if the supply is sustained.