New Naira Notes: Nigerian Man Causes A Stir After Taking $500k Cash To Bank
A Nigerian man caused a stir in one of the new-generation banks when he went to deposit $500,000, approximately N200 million. The picture of the unidentified man circulated on social media has left many asking ‘God when.’
The picture was taken in an unknown bank in Nigeria and has left many bewildered about why such an amount of dollars would be hoarded or kept by an individual.
It is not clear if the person had violated the money laundering act as Nigeria grapples with dollar scarcity which previously led to the crash of the naira.
Last week, the Central Bank of Nigeria reportedly pulled $1.8 billion from the external reserves to shore up forex liquidity, leading to a decline of the reserves.