Nigeria's naira shortage: Why are Nigerians protesting? BBC Africa

In recent weeks, many Nigerians have been left without cash to pay for vital items, due to shortages of newly designed naira banknotes. As a result, violent protests broke out in several areas. In a bid to calm tensions, President Muhammadu Buhari announced that one of the three banknotes being phased out will be reintroduced into circulation. Nigeria’s Central Bank launched newly designed 200, 500 and 1000 naira bank notes last November, aimed at curbing soaring inflation, cash hoarding and counterfeiting. Why is there a shortage of naira banknotes and why are Nigerians protesting? The BBC’s Nkechi Ogbonna explains. #naira #nigeriaelection2023 #bbcafrica Filmed by: Hans Fanfon Edited and produced by: Gloria Achieng Executive producer: Princess Irede Abumere Additional research by: Ifiokabasi Ettang Subscribe: http://bit.ly/subscribetoafrica Website: https://www.bbc.com/africa Facebook: https://www.facebook.com/bbcnewsafrica/ Twitter: https://www.twitter.com/bbcafrica/ Instagram: https://www.instagram.com/bbcafrica/