While protests over the lack of fresh naira notes shook the Sagamu area of Ogun State, Southwest Nigeria, on Monday, at least three banks were set ablaze.
Abimbola Oyeyemi, the state’s police spokesperson, verified the incident.
He claims that on Monday, demonstrators attacked the branches of Union Bank, First Bank, and Keystone Bank. Nonetheless, he said that police had been sent to the area to control the situation.
“We are in Sagamu now. The place is seriously burning,” Oyeyemi said. “They attacked Union Bank and First Bank as well as Keystone Bank. We are there right now.”
Nigerian states had similar protests due to a shortage of new Naira notes and gasoline. Affected citizens whose money is locked in the financial system vandalised banks and automated teller machines (ATMs).
Last Thursday, President Muhammadu Buhari outlawed the use of the old N500 and N1,000 notes and extended its usability until April 10, 2023. Nevertheless, at least 10 governors have petitioned the Supreme Court to overturn the President’s decision in the case that will be heard on February 22.
Fears about the safety of voters on Saturday have been raised by the cash crunch and the ensuing riots, which occurred just a few days before the presidential and national assembly elections on February 25. However, the police and other security agencies have reassured the public that there will be maximum safety during the elections.
