Naira scarcity: Protesters raze three banks in Ogun

THREE banks were razed in the Sagamu area of Ogun State on Monday, February 20 as protests over the scarcity of naira notes turned violent.

The banks razed are branches of Union Bank, First Bank and Keystone Bank.

Videos seen online by The ICIR also showed some of the protesters carrying an empty casket amid chants of ‘Buhari Must Go’.

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The State Police Spokesperson, Abimbola Oyeyemi, who confirmed the unrest, stated that officers have been deployed to quell the situation.

Similar protests have broken out in other states over the scarcity of banknotes  and petrol.

President Muhammadu Buhari had, during a broadcast last week, banned the old N500 and N1,000 notes and extended the validity of old N200 notes until April 10.

The ongoing currency shortages in the country have caused widespread frustration and hardship for many people, with some individuals struggling to access cash to make ends meet.

The scarcity has had a negative impact on the Nigerian economy, affecting both businesses and individuals. It has also led to a rise in the cost of goods and services, making it difficult for people to afford basic necessities.

Major cities in the country have witnessed violent protests ever over the prevailing scarcity of naira notes.

Protesters have targeted banks in Edo, Ibadan and Lagos states.

Not less than two banks, including Access and Wema bank branches, were attacked earlier this month in Ibadan.

Last week three persons were killed in Edo while many protesters were injured as cars and automated teller machines (ATMs) were destroyed by angry protesters.

Violent protests have also been recorded in Delta, Kwara and Benue states.

Branches of the Central Bank of Nigeria (CBN) in the states have also been targeted.

An early morning attempt by protesters to attack the Benin branch of the CBN was foiled by a combined team of policemen and operatives of the Nigerian Security and Civil Defence Corps. Three persons were feared killed during the protest.

You can reach out to me on Twitter via: vincent_ufuoma

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