Naira Scarcity: Protests Rock Oyo, Delta, Edo, Bank ATMs Destroyed

Fresh protests on Wednesday broke out in several states across the country, including Oyo, Delta, and Edo, over the scarcity of the new N200, N500, N1,000 notes and rejection of the old naira bills.

This comes less than two weeks after residents of Ibadan, Oyo State took to the streets to protest against the hardship triggered by the naira notes swap and fuel price hike.

The protests were in reaction to banks nationwide refusing the old currency in line with a position taken by the Central Bank of Nigeria (CBN), although the Supreme Court had ruled that the apex bank’s February 10 deadline be suspended temporarily.

The position has since led to a standoff between the CBN and the governors of various states, including KanoOgun and Ondo, who challenged the apex bank and/or the banks in their respective states that continue to reject the old currency.

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