Naira scarcity: Protests in Ogun, Lagos, Rivers as fear of unrest mounts

Protests have broken out in different states of the federation, including Lagos, Ogun, Oyo and Rivers, over scarcity of naira notes caused by the currency redesign policy of Central Bank of Nigeria (CBN).

On Thursday, following protests that broke out in Delta, Edo and a number of other states, leading to the death of about three people, President Muhammadu Buhari addressed the nation and said that while the old N500 and N1,000 notes were no longer legal tender, the old N200 note will remain legal tender for 60 days, till April 10, 2023.

This, he said, would help alleviate the suffering of Nigerians.

But while many may have expected that the return of N200 notes back into circulation would calm protests, things got heated again on Friday morning, amid speculations that certain politicians are plotting to instigate civil unrest in the country over the ban on old notes.

On Friday morning, vehicular movement at the Mowe axis of Ogun State, along Lagos-Ibadan Expressway, was halted as protesters armed with sticks barricaded both sides of the road.

The protesters resisted police intervention and threatened to set the police station in the area ablaze.

Also on Friday, hoodlums stormed major roads in Mile-12, Ketu and Ojota areas, along Ikorodu Road, and Iyana-Ipaja in Lagos.

Motorists and residents who were on their way to different places of work hurriedly turned back in panic as the rioters went berserk with bonfires set across the road.

Confirming the unrest, the spokesman of the Police Command in Lagos, Benjamin Hundeyin said: “It is true. Our men are there. Reinforcement units have been deployed. Stay safe out there as we closely monitor and manage the situation.”

In Rivers, protest allegedly broken out in the Diobu and Mile 1 areas of Port Harcourt, Rivers state.

According to the report, banks are being set on fire with people are out on the roads protesting the new naira redesign.

The pictures on social media show banks being set on fire by angry protesters while men are marching on the streets of the state protesting.

Residents living in that area have been advised to stay indoors due to gun shots being heard.