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Protests Ongoing In 3 States Over Naira Scarcity.

by Frederick Akinola
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Reports of protests in various states have surfaced across social media and news platforms. The protests are currently ongoing in Ondo, Kwara and Delta states over the scarcity of the new Naira. It also rebels against the cease in the use of the old Naira as a legal tender. The protest taking place at the popular Akure Motor Park roundabout Wednesday morning as reported by Leadership News has led to road barricades, leading to traffic gridlock on the road.

Bonfires were made on the road and men of the Nigeria Police Force were also seen on the ground. Apparently, they were deployed to monitor the protest. Also, in Ilorin, Kwara State capital, roads have been barricaded to protest the scarcity of the new Naira notes. As well as the rejection of old higher banknotes by traders in the Oloje and Oko-Olowo areas of the city. The general belief is that the protests over naira scarcity will help the CBN reconsider the policy.

The situation in Delta State was not so peaceful, however.  Youths were said to have set an Automated Teller Machine (ATM) on fire to protest their suffering. The general suffering is in part due to the scarcity of new Naira notes in Warri.

In October 2022, Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), announced the plan to redesign the N200, N500, and N1,000 notes, and asked Nigerians to deposit their old notes before January 31, 2023, when they would cease to be legal tender. Many Nigerians have found it difficult to obtain the new naira notes. Amid the currency crisis, there has been a steady increase in the price of premium motor spirit (PMS) which has caused long queues at filling stations across the nation.

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