Nigerian police claim that some residents disgruntled by cash shortages in the nation were storming banks and vandalising cash-dispensing equipment, and warned that they would be punished as armed robbers.
The Association of Senior Staff of Banks, Insurance and Financial Institutions (ASSBIFI) announced its members will remain away from work in places where bank offices were being targeted “until normality is restored.
Ahead of next week’s election to pick new MPs and a successor to President Muhammadu Buhari, discontent is mounting in Africa’s most populous country over a central bank plan to replace old naira bank notes with new ones. The change has generated shortages of currency and interrupted businesses.
Customers in Lagos and other states in southern Nigeria assaulted banks and torched tyres on the streets to protest their inability to access their money, local television showed.
Nigeria Police Force national spokesman Olumuyiwa Adejobi cautioned such activities would draw a severe reaction from law enforcement officers and anyone caught should not claim that their rights were being abused.
“Let us get this clear, it’s not a peaceful demonstration when you are going out and assaulting ATMs (automated teller machines), hitting banks or any financial institution. It is robbery and we will handle you like an armed robber,” he added in a statement
ASSBIFI said the union had sought the government to ensure protection inside and surrounding banks, “but tragically the assaults have persisted.”
Cash is the major means of transaction in Africa’s biggest economy, which is primarily informal.
Some lawmakers have challenged the timing ahead of the Feb. 25 vote, since campaigns are supported by primarily hard-to-trace funding.
On Thursday, Buhari supported the cash exchange scheme but authorised the central bank to extend the deadline to turn in old banknotes by another 60 days.
