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ABUJA, Nigeria (AP) - New clashes Tuesday between protesters and security forces in southern Nigeria left at least one person injured, amid demonstrations against a cash shortage caused by the West African nation's push to rapidly phase out its old currency notes.<br> Protesters targeted facilities of some banks accused of withholding the new banknotes ahead of the Feb.
10 deadline for people to deposit their old paper currency and use the redesigned version instead. The exchange program started in late November.<br> Nigeria´s antigraft agency, meanwhile, arrested a bank manager that it said refused to dispense the new banknotes despite having 29 million naira ($63,000) in the vaults.<br> Other bank officials have been arrested in similar circumstances this week.
The situation "indicates sabotage of the government´s monetary policy by some banks," Nigeria's Economic and Financial Crimes Commission said in a statement.<br> The Central Bank of Nigeria introduced the redesigned notes and new limits on large cash withdrawals to help recover about 85% of the total currency in circulation outside the banking system.
It said this would also help curb money laundering and make digital payments the norm in Africa's biggest economy, that's currently largely driven by cash transactions.<br> But the push to replace the old banknotes with new ones has left very limited cash in circulation, causing frustration and anger for many people who spend hours at the banks attempting to withdraw their money.<br> The cash shortage, financial analysts say, has affected some critical sectors of Nigeria´s economy, has caused "significant hardship in both rural and urban areas" and has led to many business closures.<br> Small protests over the limited cash in circulation started during the weekend but escalated on Tuesday as people attacked bank facilities and workers while also blocking some roads.
One of the protesters was shot as demonstrators clashed with police in southwestern Ogun state. The injured person's condition was not immediately known.<br> "Some people were attacking banks. In the process, somebody was shot and we are yet to know whether the shot is from the police," Abimbola Oyeyemi, the police spokesman in Ogun, told The Associated Press.
Officers have been deployed to restore peace in volatile areas, he said.<br> The economic crisis in Africa´s most populous country comes less than a month before a key election that would see an unprecedented 93 million voters choose a successor for incumbent President Muhammadu Buhari.<br> At a meeting with the central bank authorities on Tuesday, Mahmood Yakubu, Nigeria´s election chief, expressed concerns the recent monetary policy could affect preparations for the election but authorities promised to ensure there is enough cash for the election commission's use.<br>
10 deadline for people to deposit their old paper currency and use the redesigned version instead. The exchange program started in late November.<br> Nigeria´s antigraft agency, meanwhile, arrested a bank manager that it said refused to dispense the new banknotes despite having 29 million naira ($63,000) in the vaults.<br> Other bank officials have been arrested in similar circumstances this week.
The situation "indicates sabotage of the government´s monetary policy by some banks," Nigeria's Economic and Financial Crimes Commission said in a statement.<br> The Central Bank of Nigeria introduced the redesigned notes and new limits on large cash withdrawals to help recover about 85% of the total currency in circulation outside the banking system.
It said this would also help curb money laundering and make digital payments the norm in Africa's biggest economy, that's currently largely driven by cash transactions.<br> But the push to replace the old banknotes with new ones has left very limited cash in circulation, causing frustration and anger for many people who spend hours at the banks attempting to withdraw their money.<br> The cash shortage, financial analysts say, has affected some critical sectors of Nigeria´s economy, has caused "significant hardship in both rural and urban areas" and has led to many business closures.<br> Small protests over the limited cash in circulation started during the weekend but escalated on Tuesday as people attacked bank facilities and workers while also blocking some roads.
One of the protesters was shot as demonstrators clashed with police in southwestern Ogun state. The injured person's condition was not immediately known.<br> "Some people were attacking banks. In the process, somebody was shot and we are yet to know whether the shot is from the police," Abimbola Oyeyemi, the police spokesman in Ogun, told The Associated Press.
Officers have been deployed to restore peace in volatile areas, he said.<br> The economic crisis in Africa´s most populous country comes less than a month before a key election that would see an unprecedented 93 million voters choose a successor for incumbent President Muhammadu Buhari.<br> At a meeting with the central bank authorities on Tuesday, Mahmood Yakubu, Nigeria´s election chief, expressed concerns the recent monetary policy could affect preparations for the election but authorities promised to ensure there is enough cash for the election commission's use.<br>
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Members of the are hoping that the Duke and will be ‘seated in Iceland' if they attend the service as expected.<br>Harry and Meghan have been invited and are expected to be at the event on May 6, but many family members are privately telling friends that they will give them the ‘cold shoulder'.<br>The Sussexes' children are considered by palace officials to be too young to attend the ceremony at Westminster Abbey, but the couple are likely to spend part of the day with Archie, who turns four on May 6, and Lilibet, now styled Prince and Princess, as they celebrate their son's birthday.<br>Harry and Meghan will not be invited to take part in the official balcony appearance and many members of the family have no wish to socialise with the couple.<br>A friend of the family said: ‘They will be given the cold shoulder by very many relatives.
One said to me, "I hope they'll be seated in Iceland."<br> Harry and Meghan have been invited and are expected to be at the King's Coronation on May 6<br> Prince William and Kate, Duchess of Cambridge pictured with the King and Queen Consort at the Commonwealth Service at Westminster Abbey last year <br>‘Many of the family just want nothing more to do with them.
If they have to see them at the Coronation then so be it, but they do not want to socialise with them.'<br>The Duke and Duchess of Sussex have waged a campaign against their own family in a series of media interviews since quitting their Royal duties three years ago.<br>Last week, Prince Harry appeared in a televised interview with controversial ‘trauma therapist' Gabor Mate in which he said he had ‘learned a new language of therapy' but found that ‘my family didn't speak that language'.<br>Many in the Royal Family are now bracing themselves for the arrival of the Sussexes in less than two months as the countdown to the Coronation continues.<br>The couple are expected to stay at Frogmore Cottage during their visit.<br>The lease on their home on the Windsor estate runs out at the end of March but they have been allowed to keep it going for a few months while they sort out their belongings and arrange for them to be shipped to California.<br> Members of the Royal Family with the late Queen Elizabeth at the Platinum Jubilee Pageant last year<br>Last week Harry and Meghan revealed that their children would use the Prince and Princess titles when they announced that their daughter Lilibet had been baptised in Montecito.
As the grandchildren of a reigning monarch, the young Sussexes are entitled to the rank. After hearing that this was the Sussexes' wish, the official Royal website updated their titles accordingly. It is thought that Prince Archie and Princess Lilibet will also be able to use their ‘HRH' status in future.<br>While Harry has agreed not to use his HRH title on account of leaving Royal duties, his children could still adopt theirs.
Similarly, Prince Andrew has said he will not use HRH but his daughters, Beatrice and Eugenie, are entitled to.<br>Palace sources say that while the Sussexes will not appear on the balcony as part of the Coronation there was a discussion as to whether they would take part in other events surrounding the celebrations.<br>
One said to me, "I hope they'll be seated in Iceland."<br> Harry and Meghan have been invited and are expected to be at the King's Coronation on May 6<br> Prince William and Kate, Duchess of Cambridge pictured with the King and Queen Consort at the Commonwealth Service at Westminster Abbey last year <br>‘Many of the family just want nothing more to do with them.
If they have to see them at the Coronation then so be it, but they do not want to socialise with them.'<br>The Duke and Duchess of Sussex have waged a campaign against their own family in a series of media interviews since quitting their Royal duties three years ago.<br>Last week, Prince Harry appeared in a televised interview with controversial ‘trauma therapist' Gabor Mate in which he said he had ‘learned a new language of therapy' but found that ‘my family didn't speak that language'.<br>Many in the Royal Family are now bracing themselves for the arrival of the Sussexes in less than two months as the countdown to the Coronation continues.<br>The couple are expected to stay at Frogmore Cottage during their visit.<br>The lease on their home on the Windsor estate runs out at the end of March but they have been allowed to keep it going for a few months while they sort out their belongings and arrange for them to be shipped to California.<br> Members of the Royal Family with the late Queen Elizabeth at the Platinum Jubilee Pageant last year<br>Last week Harry and Meghan revealed that their children would use the Prince and Princess titles when they announced that their daughter Lilibet had been baptised in Montecito.
As the grandchildren of a reigning monarch, the young Sussexes are entitled to the rank. After hearing that this was the Sussexes' wish, the official Royal website updated their titles accordingly. It is thought that Prince Archie and Princess Lilibet will also be able to use their ‘HRH' status in future.<br>While Harry has agreed not to use his HRH title on account of leaving Royal duties, his children could still adopt theirs.
Similarly, Prince Andrew has said he will not use HRH but his daughters, Beatrice and Eugenie, are entitled to.<br>Palace sources say that while the Sussexes will not appear on the balcony as part of the Coronation there was a discussion as to whether they would take part in other events surrounding the celebrations.<br>
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