The traders said that scarcity of small denominations notes such as N20, N50, N100 and N200 was hindering smooth business transactions.
The situation is further compounded by the closure of commercial banks in the town since May 14, following attacks on banks by armed gangs in which three people were killed.
The closure of banks is forcing residents to travel to neighbouring Otun-Ekiti and Ilorin, a distance of more than 60 kilometres, for banking transactions.
Some of the residents blamed the situation on the new Central Bank of Nigeria banking reforms initiatives.
Mr. Victor Akeh, Manager of MRS Petrol Station in Omu-Aran, said the scarcity of low denomination notes was impacting negatively on the station's monthly sales target.
He said: "In spite of the high patronage, customers often leave in annoyance due to non-availability of these lower denomination currencies to give as change."
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