Yesterday, President Muhammadu Buhari addressed the nation regarding a cash shortage that has left citizens frustrated across the country. Despite a supreme court ruling that old 500 and 1000 naira notes should remain legal tender, President Buhari announced that they would no longer be accepted as such. The old 200 naira notes will still be accepted until April 10, after which they too will be phased out.
This decision has sparked violent protests in Lagos, with reports of gunshots being exchanged between police and hoodlums in Mile 12 and Ojota. Similar reports of violent protests have emerged from other areas of Lagos, including Agege and Lagos Ibadan expressway Mowe. The protests are a result of the non-acceptance of old naira notes, which are still widely circulated and considered legal tender.
