Naira Crisis: Banks, ATMs Dangerous, UK Warns Citizens

Amid the ongoing naira crisis across the country, the UK has warned it’s citizens in Nigeria to be careful when using banks and ATMs.

Some stakeholders have praised the federal government’s redesign of the Central Bank of Nigeria’s naira notes, which they said would help ease vote-buying in the upcoming elections.

However, Nigerians across the country are grappling with a shortage of new naira notes, with long queues at bank halls and ATMs.

The development has also sparked protests in parts of the country.

In an updated Information on Movement Restrictions During Elections period on Monday, the UK advised Nigerian citizens to be careful when withdrawing money in crowded places.

It read in part “The Central Bank of Nigeria 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 South West 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.”

Giving warning on terrorism, the UK advisory read “Terrorists are very likely to try to carry out attacks in Nigeria. Most attacks occur in Borno, Yobe and Adamawa States in the North East. There have also been significant attacks in other states, including in Gombe, Kano, Kaduna, Plateau, Bauchi, Taraba, Kogi, Niger, and the Federal Capital Territory. Further attacks are likely and could occur at any time. Attacks could be indiscriminate and could affect western interests as well as places visited by tourists. Attacks are more likely to attack crowded locations or symbolic targets, such as places of worship. There is a heightened risk during religious events, public holidays or election periods.

“There is a high threat of criminal and terrorist kidnappings throughout Nigeria. Incidents of banditry and inter-communal violence occur frequently throughout Nigeria. Attacks can occur without warning.”

It also warned that political rallies, protests and violent demonstrations can occur with little notice throughout the country, adding that “international news events can sometimes trigger anti-Western demonstrations. There is the potential for increased tension on Friday.”

It advised its citizens to be vigilant in the midst of it all.

“Throughout Nigeria, there are high levels of violent street crime including muggings, car-jackings, and armed robbery in Nigeria. You should be vigilant at all times,” it says.