Protests erupted in Lagos, Ogun State, and Rivers on Friday over the naira scarcity and the Central Bank of Nigeria (CBN)’s currency swap policy.
Since the CBN began to swap old naira bills for new, re-designed ones, Nigerians have continued to battle a shortage of cash.
The cash scarcity has triggered protests in major cities as angry customers attacked banks and barricaded roads in unrest just days before Nigeria holds a presidential election.
President Muhammadu Buhari in a Thursday broadcast sought to ease the scarcity by allowing old N200 bills to circulate until April 10. Old N500 and N1,000 notes were no longer legal tenders, he said.
But that did not dissuade some angry persons who hit the streets in several parts of Nigeria. In the nation’s commercial capital, the protests took place around the Mile 12, Ojota, and Ketu areas of the state.
At Ojota, close to the busy Mile 12 food market, a crowd of protesters gathered as early as 7 am and set fire to used tyres to block the popular Ikorodu road. Many motorists were stranded.
Similar protests broke out in the Agege, Ikotu, Iyana-Iba, Ipaja and Abule-Egba areas as angry protesters barricaded roads and major streets with burning tyres.
But it degenerated into chaos when suspected louts hijacked the protest. Videos on social media showed people scampering for safety with many commuters reportedly attacked.
Business owners were forced to close to avoid attacks and vandalisation
