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Nigerian Banks Face Backlash Over Naira Scarcity and High Fees

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BNN Correspondents
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Nigerians have expressed their frustration and anger towards Nigerian banks as a person is seen forcibly removing the entrance door of Zenith Bank in Epe, Lagos State.

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The widespread scarcity of the Naira in the country has led to this outburst as people are finding it difficult to access their own money.

The shortage of Naira has been caused by the Central Bank of Nigeria's Naira redesign policy and the high fees charged by Point of Sale (POS) machines in various parts of the country.

People are having to wait in long lines and even sleep at ATM machines just to have access to their money.

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Despite the Central Bank Governor, Godwin Emefiele, announcing a 10-day extension to allow the new Naira notes to circulate, the scarcity has only intensified.

The Nigerian President, Muhammadu Buhari, has requested another 7 days to reconsider a proper solution to the scarcity.

This came after a delegation of APC Governors, led by the Governor of Kaduna state, Nasir El-Rafai, visited the President to express the struggles that Nigerians are facing.

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