By G9ija
The scarcity of new Naira notes, caused by recent redesigns and conflicting directives from the Federal Government and court judgments, has led to escalating protests across Nigeria.
The situation has been further compounded by confusion regarding deadlines. In Lagos, the unrest has led to the closure of banks, and hoodlums have taken advantage of the chaos.
Tensions have risen as crowds gather at the Central Bank of Nigeria (CBN) in Lagos.
Recall, Biztellers reported that the protests have also spread to other parts of the country, including Oyo, Ogun, Edo, and Rivers states. The protests are in response to the scarcity of Naira notes and banks’ rejection of old notes.
Governor of Lagos State, Babajide Sanwo-Olu has warned that those who reject old naira notes will be persecuted, but the majority of residents in the state still follow CBN’s directives.
The directive from CBN has resulted in tensions and chaos within the state.
However, banks are directed to collect old N1,000 and N500 notes.