The World Bank Country Office in Nigeria’s capital city, Abuja, has said that the hardship being faced by Nigerians due to fuel scarcity and the naira redesign policy could escalate tension in Africa’s largest economy ahead of the general elections.
According to an internal document dated February 2, obtained exclusively by PREMIUM TIMES, the bank said that the deadline of 10 February for the phasing out of old naira notes will cause a cash crunch which could be economically and socially damaging to vulnerable people in Nigeria.
“The shortage of cash compounds fuel shortages which have been ongoing for months,” the bank said.
