Nigerians on the street rioting and destroying banks due to lack of access to the New Naira notes

Nigerians are suffering from the poorly executed new currency rollout and now people are protesting the lack of access to the New Naira notes.

There are riots all over Nigeria and people are vandalizing banks, ATM machines and some are causing chaos as the unrest continues.

Nigeria rolled out new notes and planned to execute them in just months, there was a deadline for when people will be able to exchange their old Naira notes for new ones. However, people showed up to the bank to make exchanges or withdraw new notes but banks don’t have any new notes to give them.

The other option is to do bank transfers, but then Nigeria bank transfers have a very low success rate with online money transfers. Before the new note policy, banks could not execute their customer’s bank transfers effectively and after the new note policy rolled out, things got worse.

Big banks in Nigeria like Access bank, GT bank, and Zenith bank, could not fill customers’ transfer orders and they can’t keep up with the traffic and the transfer demand volume surge.

The video above shows a bank in Nigeria that was engulfed in fire by angry clients.