Naira Scarcity: UK Cautions Citizens Over ‘Spike In Criminal Activity’ At Banks, ATMs

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The United Kingdom Foreign, Commonwealth and Development Office (FCDO) has updated its money advisory on the naira scarcity in Nigeria.

In the update, posted on its website, it advised its citizens in Nigeria to take precautions when visiting banks and automated teller machines (ATMs) in the country.

The advisory comes amid protests and vandalisation of financial institutions across states over the scarcity of new naira notes.

In a national broadcast earlier today, President Muhammadu Buhari had said the old N500 and N1,000 notes are no longer legal tenders.

However, he said the old N200 note will remain legal tender until April 10 when they will cease to be valid.

Buhari issued the directives despite a ruling in a case filed by some states challenging the naira redesign policy, in which the supreme court restrained the federal government from restricting the use of the old naira notes pending the determination of the suit.