Nationwide protests over naira and fuel scarcity spreads to Ogun State capital Abeokuta

ONGOING nationwide protests over the scarcity of naira notes have spread to Ogun State today with youths in the capital Abeokuta taking to the streets to demonstrate against their inability to access the new naira notes and petrol.

On November 23 last year, the Central Bank of Nigeria (CBN) launched redesigned ₦‎200, ₦‎500 and ₦‎1000 banknotes, saying the naira was long overdue to wear a new look. Nigerians had been given until January 31 to hand in all old notes, after which time they will cease to be legal tender but the process has been fraught with difficulties, prompting the National Assembly to ask the CBN to extend the deadline.

Under pressure from all angles, CBN chairman Godwin Emefiele announced a new deadline is now February 10. However, the last week has been sheer hell for Nigerians as they have found it impossible to get hold of these new notes and this currency scarcity has created shortages in other areas, with petrol shortages now a chronic problem too.

At commercial banks across the country, there are chaotic scenes as customers queue for hours to get hold of these scarce banknotes. Those that manage to get hold of any money then have to spend hours queuing for fuel and to make things worse, voters who want to participate in this month's elections, when have to go and queue for hours to obtain their permanent voters cards.

As a result, protests have spread nationwide with Ogun State youths setting alight a branch of GTbank in the Asero area of Abeokuta, where customers had queued since 4am but could not withdraw cash. Their protest also spread to other parts of the metropolis like Sapon, where political posters and billboards were destroyed by the protesters.

To avoid being attacked, taxi drivers and okada riders had to show solidarity by attaching leaves to their vehicles. While parents rushed to schools to take home their wards at noon, residents were seen frantically calling loved ones to stay safe and avoid being victims of the ongoing violent protest.

One protester said: “We can’t withdraw our money, we can’t buy fuel, see long queues everywhere. There is no water, there is no light, yet these people are out there campaigning. What type of a nation is this? We must stop this nonsense.”

Ogun State Police spokesman, Abimbola Oyeyemi, confirmed the incident, saying policemen were monitoring the situation. He warned protesters against causing more hardship for Nigerians, especially by vandalising other people’s properties.

Mr Oyeyemi said: “We have talked to them so that they won’t turn the protest into the destruction of properties. Anybody who tries to destroy any property will be decisively dealt with, we have warned them.

“They are protesting that they can’t withdraw money and there is fuel scarcity. The funny thing is that those who don’t have N5 in their accounts are demonstrating that they can’t withdraw. This is uncalled for, we all have to be calm."