New naira notes: Lagos banks shut, as Nigerians besiege CBN

Protests are escalating over new Naira notes’ scarcity, following the redesign, and confusion resulting from deadlines, conflicting Federal Government directives, and court judgments.

In Lagos, banks have shut down as hoodlums take advantage of the commotion. Also, crowds have converged on the Central Bank of Nigeria (CBN) in the state, as tension rises.

Vanguard has earlier reported that protests have hit parts of the country including Lagos, Oyo, Ogun, Edo, and Rivers states over the scarcity of naira notes and rejection of the old notes by banks.

The mayhems have resulted in the vandalisation of banks, and POS shops as well as shootings that have claimed lives.

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.

This has led to tensions and chaos in the state.

CBN, however, has directed that banks should start collecting old N1,000 and N500 notes.

Below are videos capturing the situation across the state.