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General News of Friday, 17 February 2023

Source: www.mynigeria.com

Naira note scarcity: Videos emerge as violent protests rock various parts of Lagos

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Protests have erupted in Nigeria's commercial capital, Lagos in the early hours of Friday, February 17 over the naira notes scarcity.

The development comes a day after President Muhammadu Buhari announced that the N500 and N1000 notes longer remain legal tender.

Buhari further directed the Central Bank of Nigeria (CBN) to circulate the old N200 naira notes to banks to douse the temperature across the country.

Confirming the incident to TVC News's Your View, Lagos police spokesman Hundeyin said the cause of the protest is yet to be ascertained.

He, however, noted that there have been "rumours" that the unrests have to do with the Naira notes scarcity crisis. Hundeyin said no casualty has been recorded, adding that normalcy has been restored. The police spokesman also said no arrest has been made.

The Vanguard reports that Naira scarcity protest has spread to other areas in Lagos, including Iyana-Ipaja, Agege and Iyana-Iba.

Motorists and residents who were on their way to different places of work hurriedly turned back in panic as the rioters went berserk with bonfires set across the road.

A violent protest has erupted in the Ketu/ Mile 12 areas of Lagos state causing serious traffic along the Ikorodu expressway.

The protesters blocked the expressway with bonfires while many vehicles were reportedly vandalised in the process.

According to Nigerian Tribune, the protest started following the rejection of the old notes of N1000 and N500 by traders in the area. The protesters stormed Mile-12, Ketu, Ojota area, along Ikorodu Road.

The newspaper, however, noted that some military men timely intervened and prevented the situation from degenerating into loss of lives.









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