Home News Latest JUST IN: Banks attacked as more naira scarcity protests rock Ogun

JUST IN: Banks attacked as more naira scarcity protests rock Ogun


At least three bank branches were torched on Monday as protest over scarcity of new naira notes rocked the Sagamu area of Ogun State.

The police spokesperson in the state, Abimbola Oyeyemi, confirmed the development in a telephone chat with Channels Television.

According to him, Union Bank, First Bank and Keystone Bank branches were attacked by protesters on Monday.

He, however, said policemen have been deployed to the area to quell the situation.

“We are in Sagamu now. The place is seriously burning,” Oyeyemi said. “They attacked Union Bank and First Bank as well as Keystone Bank. We are there right now.”

Reports said the protesters also blocked the Sagamu-Benin expressway with bonfires.

The Akarigbo of Remo, Oba Babatunde Ajayi, has called for calm.

A statement from the palace read, “I appeal to all to remain calm and peaceful as we continue to engage the Federal Government.

“This policy is not from the state or local government. Therefore, the destruction of lives and properties will only compound an already bad situation.

“I urge our people to continue to accept the old notes in line with the Supreme Court ruling. No person who accepts the old notes would lose out. I can assure you of that, and please hold on to that promise.”

“Further, I am also mandating all our market people to continue to accept the old notes. I hereby undertake that no one will lose out for possessing the old notes.”

Similar protests broke out across states in Nigeria amid scarcity of new naira notes and petrol. Banks and Automated Teller Machines (ATMs) were vandalised by aggrieved citizens whose moneys 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.

Previous articleJUST IN: Court bars INEC from using MC Oluomo to distribute election materials
Next articleFake news: CBN debunks directive to recirculate old N200, N500, N1000 notes