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.
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, according to AP.
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.
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.
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