• Short Summary

    Nigerians waited in long queues outside bans in Lagos on April 25 to change old notes for new.Nigeria's decision to scrap its currency and start again with a new Naira marked a sudden stepping-up of the military government's attack on corruption.The government announced on April 24 that banks would start changing new notes for old the next day.Brigadier Tunde Idiagbon, who ranks second in the new administration, said in a national television broadcast that the country's land borders would be closed immediately in a move to render the old Naira worthless abroad.The changeover will extend to May 6.In that time people will be allowed to change up to 5,000 old Naira for new notes.Anything over that amount must be deposited in banks, accomplished by affidavits proving source and ownership -- another move to pinpoint corruption.Brigadier Idiagbon said the withdrawal of the old notes had become necessary because rampant smuggling of Naira had been a key factor in the sabotage of the Nigerian economy.He said that hundreds of thousands of Naira had been found in the homes of several former state governors after the civilian government was ousted on December 31 last year.Since April 25 bank officials have been trying to move the new money across the counters as fast as they were receiving it, but many have complained that people were forced to queue for hours outside banks which had run out of money to distribute.

  • Description

    1.
    GV Lagos skyline
    0.05

    2.
    LV/SV Crowds outside the Central Bank of Nigeria (2 shots)
    0.11

    3.
    CU PAN DOWN Poster "New Banknotes," Photographs of front and bank of new banknotes
    0.21

    4.
    CU Large crowd waiting to change money
    0.32

    5.
    SV PAN Large crowd waiting at counter
    0.49

    6.
    CU Sign indicating exchange of currency available
    0.54

    7.
    SV PAN Crowd waiting at cash desk
    1.01

    8.
    LV Crowd waiting outside other bank
    1.05

    9.
    SV ZOOM INTO CU Man walking out of First Bank of Nigeria, counting new money
    1.27




    Initials GG/BB





    Script is copyright Reuters Limited. All rights reserved

    Background: Nigerians waited in long queues outside bans in Lagos on April 25 to change old notes for new.Nigeria's decision to scrap its currency and start again with a new Naira marked a sudden stepping-up of the military government's attack on corruption.The government announced on April 24 that banks would start changing new notes for old the next day.Brigadier Tunde Idiagbon, who ranks second in the new administration, said in a national television broadcast that the country's land borders would be closed immediately in a move to render the old Naira worthless abroad.The changeover will extend to May 6.In that time people will be allowed to change up to 5,000 old Naira for new notes.Anything over that amount must be deposited in banks, accomplished by affidavits proving source and ownership -- another move to pinpoint corruption.Brigadier Idiagbon said the withdrawal of the old notes had become necessary because rampant smuggling of Naira had been a key factor in the sabotage of the Nigerian economy.He said that hundreds of thousands of Naira had been found in the homes of several former state governors after the civilian government was ousted on December 31 last year.Since April 25 bank officials have been trying to move the new money across the counters as fast as they were receiving it, but many have complained that people were forced to queue for hours outside banks which had run out of money to distribute.

  • Tags

  • Data

    Film ID:
    VLVABFIJ20H1ETY7A0U789ZP3STFV
    Media URN:
    VLVABFIJ20H1ETY7A0U789ZP3STFV
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    30/04/1984
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:27:00
    Time in/Out:
    /
    Canister:
    N/A

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