Nigerians Looking for New Naira Queue Up at Only ATM That Has It

Most bank ATMs fail to dispense new notes ahead of deadline
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People queue at a Zenith Bank branch ATM to withdraw new naira banknotes, in Lagos, on Jan. 27.

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By Anthony Osae-Brown

January 27, 2023 at 2:05 PM UTC

This article is for subscribers only.

Dozens of Nigerians queued at an ATM machine in the heart of the country’s commercial hub on Friday morning to get new higher denomination naira notes ahead of a Jan. 31 deadline that will render old bills expired.

The ATM belonging to Guaranty Trust Bank Plc was the only one dispensing the new notes on one of the busiest streets in the Victoria Island district of Lagos, where most of Nigeria’s banks have their head offices. Even then only one of six ATMs in the building was dispensing the new bills.