Protests Rock Oyo, Delta, Edo Over Naira Scarcity

Nigerians have continued to express their angst against the naira redesign policy of the Central Bank which has led to naira scarcity across the country.

Violent protests broke out in parts of Oyo, Delta and Edo states respectively as commercial banks and petrol stations began rejecting the old notes despite a Supreme court order against it.

The protests were in reaction to banks nationwide refusing the old currency in line with a position taken by the Central Bank of Nigeria (CBN), although the Supreme Court had ruled that the apex bank’s February 10 deadline be suspended temporarily.

The position has since led to a standoff between the CBN and the governors of various states, including Kano, Ogun and Ondo, who challenged the apex bank and/or the banks in their respective states that continue to reject the old currency.

In Oyo state, there were demonstrations in different parts of Ibadan, such as Mokola, resulting in a gridlock along Eleyele/Eruwa road.

Cars were turned back at some point while some schoolchildren were forced to return home as a result of the protest.

Commercial activities were grounded as the Mokola Road was turned into a football field.

Most major roads were deserted as many residents resorted to trekking long distances.

Crowds were seen in front of the CBN office at Dugbe waiting to be attended to in the bid to change old naira notes amid heavy security presence.

In Delta, the ongoing rampage blocked the major highway with bonfires and other objects at their disposal, destroying automated teller machines (ATMs) belonging to some banks in the area.

Angry youths protested the scarcity of the newly redesigned naira notes and the rejection of the old notes by people.

The demonstrations first broke out at Orhuwhorun junction before spreading to the expressway.

Part of the buildings of banks were vandalised by the mob who hurled stones and other objects at the premises, prompting bank workers and their customers to scamper for safety.

Meanwhile, the Delta State Governor, Ifeanyi Okowa has appealed for calm and patience.

Okowa’s appeal was contained in a statement by the state Commissioner for Information, Charles Aniagwu.

He called on the people to remain calm while also appealing to the Central Bank of Nigeria (CBN) and the monetary authorities to take further steps in increasing the money supply in the system.

“We appeal to our brothers and sisters across the state to keep calm despite the current travails they are going through as a result of the scarcity of naira notes in the country,” the statement read in part.

“As a government, we are not unaware of your sufferings but we appeal to you to be patient with the monetary authorities as they take steps to improve the money supply in the country.

“We are very much aware of your pains and concerns, but burning down a bank that employs our people will not augur well for us as a nation even as it will not also solve the problem but will further compound the situation.

“Once again, we appeal to you all to sheath your swords while we continue to engage the cbn to ensure more funds are released to the banks in the country.”

The governor’s appeal comes on the heels of protests by some citizens of the state at Orhuwhorun community in Udu Local Government Area (LGA) of the state where a bank’s ATM gallery was reportedly torched.

Edo
Chaos broke out across various banks on Akpakpava road in Benin City, the Edo State capital, following what some eyewitnesses described as an inability to access cash at the banks.

Bonfires were started by angry residents along the road.

Some of the angry residents claimed that the shootings led to the death of some persons who had visited the banks for cash withdrawals.