Naira Crisis: UK Cautions Citizens In Nigeria Against ATMs, Banks

The Naira scarcity in Nigeria is extending its fangs to the nation’s colonial masters. 

A few weeks into the crisis, Nigerians in diaspora are scared to return home to their motherland.

Those who feel trapped in the nation are exploring every means possible to Japa (leave).

Banks have been set ablaze as protest rocks various parts of the oil-rich nation.

Some banks have shut down their branches over fear of attack.

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Recently, the United Kingdom (UK) Foreign, Commonwealth & Development Office (FCDO), issued a caution. 

It is asking its citizens in Nigeria to avoid visiting banks and Automated Teller Machines (ATMs) across the nation.

This caution is contained n a latest advisory issued on Wednesday, the UK government.

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.

Check The Currency

Also, it urged its nationals living in Nigeria to check notes provided by currency exchange vendors.

It wants them to take extra precautions particularly when withdrawing cash in crowded spaces.

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That statement reads: “The Central Bank of Nigeria (CBN) has directed the redesign and issue of new 200, 500 and 1’000 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”.