Protest rocks Ibadan, Warri over naira scarcity

Scores of customers of banks, on Friday, took to major streets in Ibadan, the Oyo State capital, to protest the scarcity of new naira notes, which has been a subject of discussion across major towns and cities in Nigeria.

Scores of customers of banks, on Friday, took to major streets in Ibadan, the Oyo State capital, and Warri in Delta State to protest the scarcity of new naira notes, which has been a subject of discussion across major towns and cities in Nigeria.

The majority of the bank customers who went to withdraw money on Friday at various banks in Ibadan could not do so.

Many residents of the city have been lamenting over the paucity of money across many banks and Automated Teller Machine (ATM) stands. Even the Point of Sales (PoS) operators finds it difficult to access money.

This has rendered many of them redundant and many businesses have been rendered prostrate.

It was gathered that bank customers in Ibadan have been finding it difficult to withdraw money.

It will be recalled that the Central Bank of Nigeria, CBN, had a few weeks ago introduced the newly redesigned N200, N500 and N1000 denominations across the country.

The apex bank had also directed commercial banks to fill their Automated Teller Machines, ATMs, with the newly redesigned naira notes

The CBN also gave 31st January 2023 as the deadline for the exchange of the old banknotes before extending it till 10th February.

It has also directed commercial banks to pay customers the new naira notes over the counter.

Some of the areas where the customers are currently protesting are Agodi Gate, Idi Ape and Iwo Road.

The protesters burnt several tyres so to register their displeasure.

A resident of Gate who journalists said that the protesters were protesting their inability to withdraw money from the banks.

“Protests are currently ongoing at Gate and Iwo Road as I speak with you. They are burning tyres now,” he said.

A resident of Iwo Road also confirmed that the protest is ongoing.

“Yes. There is a protest here. People are currently protesting at Iwo Road over the inability to collect their money from banks,” he also said.

Some commercial banks were forced to close abruptly on Friday when scores of market women barricaded the Warri-Sapele Road and NPA Expressway to protest naira crisis bedeviling the nation.

The protesters besieged the entrance of the United Bank for Africa and Union Bank located near Main Market, Warri.

The traders, who bore placards and leaves, lamented the inability to sell their goods in the past few days, owing to the cashless policy of the Central Bank of Nigeria(CBN) and scarcity of the redesigned naira notes.

They burnt tyres along the ever-busy roads to register their frustration, causing heavy gridlock.

Rejecting the cashless policy of the apex bank, they demanded the banks should release their monies to enable them carryout their legitimate businesses.

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