Lagos (Nigeria) – Dramatic scenes in Nigeria: Because of a new law, cash is no longer available in many places there. People are desperate and want to save their savings quickly. Some resort to drastic measures.
Many people in Nigeria are desperate and just want their money. © Montage: Twitter/cdb33f29fab2433, Twitter/ddoktashittu
Chaos and violence ensued after the government of the West African country introduced new banknotes and declared the old money invalid.
Videos distributed on social networks show dramatic scenes. A man stripped completely naked in the middle of a bench and began to cry. Before that, he was said to have been told by bank employees that he could only exchange the equivalent of 40 euros, reports the Daily Mail. Similar scenes are said to have played out across the country.
In many places in the country of 200 million inhabitants, desperation even turned to violence. In several cases, angry bank customers banded together, stormed banks and rioted.
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Particularly explosive: A video that was shared on Twitter and was apparently only recently created is said to show a boisterous party by members of the Nigerian upper class. It shows several party guests throwing the new money at each other and trampling on it.
Observers suspect that corrupt bank employees are said to have “sold” the new money to wealthy acquaintances.
The new naira banknotes are said to be harder to counterfeit. © Facebook/Central Bank of Nigeria
The Nigerian central bank announced in October last year the new rule, according to which the three highest banknotes (200, 500, 1000) of the national currency naira would be redesigned and the old notes would no longer be accepted as legal tender by the January 31 deadline. 1000 naira is about 2 euros.
The currency watchdogs cited security concerns, cash hoarding and an increase in cybercrime as the reasons for the new regulation, the news agency reports Anadolu.
Due to technical problems and mismanagement, the exchange period has now been extended to mid-February. But still only very few banks in the country have the new money in stock in sufficient quantities.
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In addition to the shortage of money, Africa’s most populous country is being hit by a severe economic crisis. Gasoline is in short supply at gas stations and food prices have risen dramatically. On February 25, Nigerians are called upon to elect a new head of state.
