Angry Nigerian Youths Set Bank Ablaze Over Cash Shortages


Some irate youths have sent ablaze commercial banks in three Nigerian cities over shortage of the new 200, 500 and 1000 naira notes.

The youth destroyed the bank ATMs and blocked some roads in the cities to express their anger over cash shortages just few days before the country’s general elections.

Nigeria has been struggling with a shortage in physical cash since the central bank began to swap old bills of the local naira currency for new ones, leading to a shortfall in banknotes.

Banks have limited access to cash for withdrawals because of a scarcity of the new notes, and some businesses refuse to accept old naira, causing huge queues, angering customers and disrupting businesses.

“There were pockets of protest this morning by some aggrieved bank customers. Major roads were blocked while banks, shops and other businesses were shut. The protesters made bonfires of used tires to disrupt traffic and movements”, sources reveal.

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