Naira Scarcity: Banks attacked as protest rocks Ogun - Breaking News in Nigeria today 247 | TheWatchNGR

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Monday, February 20, 2023

Naira Scarcity: Banks attacked as protest rocks Ogun

Naira Scarcity: Banks attacked as protest rocks Ogun




Eric Patrick



On Monday protesters took to the streets over the scarcity of new naira notes in the Sagamu area of Ogun State.

According to him,

According to reports, Union Bank, First Bank and Keystone Bank branches were attacked by angry protesters who have been unable to lay hands on their money since the Central Bank of Nigeria announced the ban on the old naira notes.

An eyewitness told THEWATCH NEWS that, some armed policemen were sent to quell the situation.

Since the new naira notes policy Nigerians have been protesting across states in Nigeria amid scarcity of new naira notes and petrol.

Banks and Automated Teller Machines (ATMs) were vandalised by aggrieved citizens whose money are trapped in the banking system.

 President Muhammadu Buhari last Thursday banned old N500 and N1,000 notes and extended the validity of old N200 notes till April 10, 2023, but at least 10 governors have approached the Supreme Court to step aside the directive of the President in the case set to hear on February 22.


The cash crunch and consequent riots come just a few days to the February 25 Presidential and National Assembly elections, spreading fears about the safety of voters on Saturday but the police and other security agencies have assured citizens of maximum safety amid the polls.

Meanwhile, the Commissioner of Police in the state, Frank Mba, has assured residents of the state of the resolve of the Command to protect lives and property, prevent breakdown of law and order, and improve public safety and security.

The CP further noted that intelligence at the disposal of the Command indicates that some criminal elements are planning to take advantage of the challenging economic situation to disrupt the peace being enjoyed in the State.

He therefore warned that the Police, will not fold its arms and allow persons with criminal intentions, to hide under any guise whatsoever, to unleash mayhem on residents, private and public property, and critical national infrastructure, including banks and offices of the Independent National Electoral Commission (INEC).

The CP assured that necessary security architecture has been emplaced to protect the peace-loving people of the state.
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