Cash Crisis Turns Violent as Protests Erupt in Nigeria’s Lagos
Protesters attacked bank ATMs and blocked roads in various Nigerian cities as anger spilled on the streets over a scarcity of cash.
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Protests against Nigeria’s deepening cash crisis turned violent Friday prompting police in Lagos to fire tear gas to disperse demonstrators, days before the nation votes to elect a new president.
The country’s central bank in October announced it would redesign 200-, 500- and 1,000-naira notes. The move has led to a severe shortage of bills as people have been unable to get new notes after depositing their old denominations.