As people struggle to obtain new banknotes, irate protests have erupted in some Nigerian towns and cities.
Since there were not enough of the newly created naira notes to go around, frustration has been growing.
Two commercial banks were reportedly set on fire by some customers in the southern Nigerian cities of Warri and Benin City.
Nigerians have experienced lengthy lines at the cash registers, with some sleeping outside banks in an effort to get money first.
People claim they have been forced to skip meals and work while short on cash to cover the cost of their meals or transportation to work.
The 200, 500, and 1,000 naira notes were redesigned, according to the Central Bank of Nigeria (CBN), to replace the dirty money currently in circulation, combat inflation, stop counterfeiting, and advance a cashless society.
Nigerians were informed of the change in October of last year and urged to deposit any cash they had in savings accounts.
However, in a nation where cash is still widely used, not enough of the new notes have been made available. According to estimates, 40% of people lack access to bank accounts.
Crowds angry that they couldn't withdraw their savings attacked Central Bank offices and other commercial banks, while protesters in Ibadan blocked roads. Protesters can be seen venting their frustrations in video that BBC Yoruba has collected and is making the rounds on social media.
President Muhammadu Buhari is being urged to act just ten days before the nation's elections to prevent the ruling All Progressives Congress from losing support.
The Supreme Court overturned the bank's deadline for the old notes to stop being accepted as legal tender on February 10 as a result of a legal challenge from 10 states.
Just three days before the elections, the case that was scheduled to resume on Wednesday has been postponed until next week.
Megan Fisher contributed more to this report.