Naira Redesign: Angry Nigerians Attack Bank Over New Notes (Video)

A video showing the moment irate Nigerians threw stones, and sticks, destroying the property of a commercial bank due to anguish and frustration endured from the scarcity of new banknotes has surfaced on social media. 

Recall, the Central Bank Of Nigeria, (CBN) announced a change in some Naira notes, citing security concerns, hoarding of currency, and an escalation of cybercrimes as reasons for the change.

Following the scarcity of new Naira notes, Nigerians who are unable to use other means of transactions and are made to queue for hours, unleashed their frustrations on a commercial bank.

Naija News understands that the scarcity of the new notes is coming during an acute shortage/hike of petrol.

Below is a video of Nigerians expressing their frustration over their inability to get money kept in their accounts.

 

CBN Extended Old Notes Deadline

Meanwhile, the Central Bank of Nigeria (CBN) extended the deadline for the exchange of old Naira notes by 10 days.

The CBN Governor, Godwin Emefiele, in a statement on Sunday says it has the permission of President Muhmammadu Buhari to effect the extension.

Emefiele stated that, so far CBN has collected 1.9 trillion and is left with 900 billion to achieve effective implementation of policy.

According to the apex bank chief, the extension, ‘a 7-day grace period’ was as a result of measures put in place to ease the scarcity.