UK Warns Citizens In Nigeria To Avoid ATMs, Banks Over Naira Crisis

The United Kingdom (UK) Foreign, Commonwealth & Development Office (FCDO), has cautioned its citizens in Nigeria to avoid visiting banks and Automated Teller Machines (ATMs) across the country.

In a latest advisory issued on Wednesday, the UK government asked its nationals against going to banks and ATMs in the country.

The UK government said the persistent shortage of cash from the currency redesign policy of the Central Bank of Nigeria (CBN) has incited violence and protests in many parts of the country.

It also urged its nationals living in the country to check notes provided by currency exchange vendors and take extra precautions particularly when withdrawing cash in crowded spaces.

That statement reads partly “The Central Bank of Nigeria (CBN) has directed the redesign and issue of new N200, N500 and N1’000 Naira notes. This has led to shortages of cash, which are likely to persist for a period. You are encouraged to check notes provided by currency exchange vendors will be valid for the duration of your travel to Nigeria, and to follow local CBN guidelines.

“Areas such as banks and ATMs have seen a spike in criminal activity, and as such, it is advised that you take extra precautions particularly when withdrawing cash in crowded spaces, and during night time hours. There have been outbreaks of violence in southwest Nigeria as a result of cash shortages, and there is a risk of other urban areas being impacted across the country. We advise travellers in Nigeria to exercise their judgement, including being aware of any large crowds or potential disturbances.”