Share this story
Close X
Switch to Desktop Site

News In Brief

Order out of chaos in Nigeria's currency swap

Nigeria's exchange of old banknotes for new notes was drawing to a peaceful end Sunday after 12 days of near chaos. Bankers said more than 3 billion naira ($4 billion) had probably been handed over bank counters during the 12 days. As of today, old naira are no longer legal tender. Possession will be illegal.

About these ads

Bank officials stood around Sunday in almost empty banks after huge queues vanished in the face of last-minute emergency measures taken by the government to ease problems.

The currency changeover, ordered by the government in an effort to crack down on currency smuggling, began April 25.