Naira Scarcity: Protesters take to streets in Ibadan, vandalise banks as Buhari asks for more time


…Angry Nigerians have taken to the streets to violently protest the scarcity of the new naira notes

…Some new-generation banks have been targeted in the streets of Ibadan, leaving the health status of some staff unknown

…Meanwhile, President Buhari has requested for more time to make an important decision on the new naira notes

Irate mob protesting naira scarcity targeted commercial banks in Ibadan on Friday, February 3, 2023.

One of the banks affected is Wema Bank with a video circulation on social media showing the damage. Another is Access Bank.

Protesters also 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 to “despite being our money”.

Also, the government secretariat was targeted with the protesters seen in another video trying to break in.

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

Also, tyres were burnt in front of the secretariat by the angry mob to register their anger.

Newsmen reports that the 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.

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

Newsmen had earlier reported that Point of Sales (POS) operators have also unofficially put their charge rate of N5,000 to N10,000 between N500 and N1,000.

President Muhammadu Buhari on Friday, February 3, 2023 asks Nigerians to give him seven days to resolve the cash crunch that has become a problem across the country.

The president stated this when he met with the Progressive Governors Forum who came to the Presidential Villa to seek solutions to the cash crunch which they said was threatening the good records of the administration in transforming the economy.

A statement by Presidential spokesman, Garba Shehu, said the President Buhari said the currency re-design will give a boost to the economy and provide long-term benefits while expressing doubts about the commitment of banks in particular to the success of the policy .