At least three people are feared dead in the protests that rocked Benin City, Edo State capital, on Wednesday.
The protests erupted as the cash crunch occasioned by the Central Bank of Nigeria’s new naira policy worsened with citizens unable to spend the old notes in their possession.
The scarcity of the new N200, N500 and N1,000 banknotes has left many Nigerians with no option than to hold on to their old notes. But now many traders, commercial bus drivers, petrol stations and other businesses are rejecting the old notes after the February 10 deadline given by the CBN for the old notes to lose their legal tender status. The Supreme Court’s adjournment of hearing on the suit filed by the governments of Kaduna, Zamfara and Kogi States against the implementation of the February 10 deadline does not offer any relief.
On Wednesday, protesters took to the streets of Benin City following their inability to spend their old notes. They targeted mostly banks.
Some of the protesters took their protest to the CBN office in Akpakpava, Benin City.
The Nigerian Observer reporter who visited the scene reported strong security presence at the CBN. There were also heavy shooting and spraying of teargas by security personnel attached to the bank in a bid to disperse the protesters.
As at the time of reporting, two persons had been carried away from the scene who were said to have died by gunshot wounds.
The Nigerian Observer had earlier reported that there were protests around Ring Road, Oliha, Uselu Shell, Ekehuan Road, Akpakpava and other parts of Benin City in which buildings housing branches of some commercial banks were targeted for destruction.
