Naira Scarcity : Protesters Set Banks Ablaze In Ogun

Naira Scarcity : Protesters Set Banks Ablaze In Ogun

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Naira scarcity protesters have set two banks ablaze in Sagamu, Ogun State. Residents watched as Keystone and Union bank buildings were set ablaze by the protesters who were also protesting the petrol scarcity in the state. The buildings were believed to be empty at the time of the incident.

The protesters also made bonfire in different sections of the roads in the area.The Monday incident occured days after a similar one in the state.

Recall that last Friday, protesters in the Mowe-Ibafo area of Ogun State, blocked the Lagos-Ibadan Expressway in protest of the hardship caused by the lingering scarcity of the naira.

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In Sagamu, businesses were not allowed to open as those who already opened their shops before the Monday’s incident hurriedly closed their shops.

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 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.

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The Naira scarcity and 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.

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.

Bisina Somto
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