Naira scarcity: Bank vandalised as protesters take to streets in Ibadan

A commercial Bank branch in Ibadan, Oyo State, was vandalised by irate mob protesting naira scarcity, on Friday.

The protesters barricaded major roads across the state capital and chanted anti-government songs.

Affected routes include; Iwo road, Gate and other routes in Ibadan North East local government area.

Some of the angry youths were heard shouting out of frustration in Yoruba language: “lori owo wa” which translates despite being our money.

Many civil servants inside the government secretariat panicked as many were seen hanging around different spots in case of unforeseen eventuality.

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Tyres were burnt in front of the secretariat by the angry mob to register their anger.

In a chat with journalists, Executive Assistant on Security to Governor Seyi Makinde, CP Sunday Odukoya (rtd), condemned the act, saying the situation in the country affects everybody equally and should not be the reason anybody should hide under such to destroy or vandalise government property.

In October last year, governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, announced the plan to redesign the N200, N500, and N1,000 notes, and asked Nigerians to deposit their old notes before January 31, 2023 when they would cease to be legal tender.

Although the deadline has been shifted to February 10, many Nigerians have found it difficult to obtain the new naira notes.

Daily Trust reports that Point of Sales (POS) operators have also unofficially put their charge rate of N5,000 between N500 and N1,000.