• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Currencies

Cash scarcity affects tithes, collections, operations – Pastors complain

Cees Harmon by Cees Harmon
February 6, 2023
in Currencies, Economy, Exclusives
CBN revokes licence of Eyowo, 46 other microfinance Banks
Share on FacebookShare on TwitterShare on Linkedin

The Central Bank of Nigeria’s Cashless Policy may have exposed religious organizations to financial worries, Nairametrics investigations reveal.  

Already, there have been feelers that tithes and offerings are reducing, nudging clerics to start urging adherents to adopt transfers to pay tithes and offerings. 

An investigation by Nairametrics over the week, which culminated on Sunday, showed that clerics have started feeling the pinch of the policy, as it became burdensome to defray the daily expenses of running the organizations due to scarcity of cash, which became obvious yesterday. 

RelatedStories

Zenith, Access leads as banks’ CSR donations

BAD LOANS: Nigerian listed banks incur N3.77 trillion in loan losses since 2023, see top losers 

June 16, 2025
Naira , dollar, exchange rate

Naira ends week mixed: Falls to N1,554/$ at official market, gains to N1,595/$ on parallel market 

June 14, 2025

A priest at a church on the outskirts of Lagos urged adherents to pay their offerings into a designated account. This was a result of low offerings compared to normal days emanating from the cash crunch.

A member of the church, who spoke to Nairametrics about the situation, conjectured that the regular offerings were less than half of what is normally collected at Sunday services, which necessitated the call to transfer to the designated account.

He noted that the cash crunch came at a time when the cost of running regular services had risen due to an increase in the cost of fuel, as well as a scarcity of the product, which means buying on the black market.  

The situation was much the same with churches across the country. Uju Njokwu, who is a member of the Church of God Mission in the Woji Area of Port Harcourt, related to Nairametrics that she could not pay her tithes last week because of the lack of cash. Another member of the same church, Sarah Atuma, said she could not make it to church on Sunday because she didn’t have enough cash to transport herself to church. 

The pastor of the Consuming Fire Pentecostal Church in Benin City, Edo State, told Nairametrics that he could not run the generator of his church for the full service yesterday because he did not have enough money to buy fuel.

  • “We did not have enough money yesterday to run the generator for full service because offerings have been poor during the week, and the price of fuel is high. We are buying a liter of fuel for more than N500 right now, and we don’t have that kind of cash to buy fuel at such a price. Tithes and offerings are not coming in like that anymore,” he said. 
  • “I hope faithful worshipers can adopt paying their tithes and offerings into the church’s bank account; that’s the only way we will be able to stay afloat in times like these. Things are changing, and we all need to adapt,” said another pastor of a Pentecostal church, who pled anonymity. 
  • “The country is not yet ripe for the cashless policy; it’s affecting us badly,” said another Pentecostal pastor in Abuja, who also pled anonymity. “Before now, on a regular Sunday, we would have more than N300,000 as tithes and offerings; today we received a little over N75,000. If it continues like this we would not have enough money to pay pastors, other church workers, and to take care of other expenses like running the generator,” he said. 

Follow us for Breaking News and Market Intelligence.
Tags: CBN cashless policyCentral Bank of Nigeria
Cees Harmon

Cees Harmon

Related Posts

Zenith, Access leads as banks’ CSR donations
Financial Services

BAD LOANS: Nigerian listed banks incur N3.77 trillion in loan losses since 2023, see top losers 

June 16, 2025
Naira , dollar, exchange rate
Currencies

Naira ends week mixed: Falls to N1,554/$ at official market, gains to N1,595/$ on parallel market 

June 14, 2025
CBN, forex
Financial Services

CBN suspends dividends, bonuses, and foreign investments for banks under regulatory forbearance 

June 14, 2025
Naira , dollar, exchange rate
Currencies

Exchange rate extends one-week appreciation rally across official, parallel markets post-Sallah holidays 

June 11, 2025
CBN, forex
Currencies

CBN’s BDC recapitalization deadline expires today as operators seek urgent extension to save 3 million jobs 

June 3, 2025
Naira , dollar, exchange rate
Currencies

Naira ends May mixed: Gains 1.28% in official market, dips 1.24% at parallel 

June 2, 2025
Next Post
Bankers Institute urges calm, reveals banks addressing unintended consequences of policy

Naira redesign: Court bars CBN from extending deadline for use of old naira notes

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Emple
nlng
first bank
Zenth Bank








DUNS

Recent News

  • Nigeria urgently needs PPPs’ intervention to address country’s $2.3tn Infrastructure Gap – ICRC 
  • Food Price: Dry onions up 17.65%, pepper down 29.41% as Lagos markets swing in June 2025 
  • Nigeria launches ASIF Investment Platform to drive cross-border financing in infrastructure across Africa 

Follow us on social media:

Recent News

Nigeria urgently needs PPPs’ intervention to address country’s $2.3tn Infrastructure Gap – ICRC 

Nigeria urgently needs PPPs’ intervention to address country’s $2.3tn Infrastructure Gap – ICRC 

June 17, 2025
Food Inflation, Insecurity, Supply Chain Issues,

Food Price: Dry onions up 17.65%, pepper down 29.41% as Lagos markets swing in June 2025 

June 17, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics