Chaos in Ibadan as residents protest over naira and fuel crisis
The protest in Ibadan is gradually becoming a full-blown riot as 'protesters' have reportedly vandalised a bank in the gate area of the state.
Chaos in Ibadan as residents protest over naira and fuel crisis.
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The protest which reportedly started around the state secretariat and the government house has spread to Iwo road, Gate, and other busy areas in the city.
Commercial activities have been grounded in the state as protesters block major roads to express their frustration with the cashless policy of the Central Bank of Nigeria, which has unleashed hardship on Nigerians.
Recall that in October 2022, the CBN Governor, Godwin Emefiele announced the plan to redesign N200, N500, and N1,000 notes.
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He asked Nigerians to deposit their old notes because the old denomination would cease to be legal tender by January 31, 2023.
Despite shifting the deadline to February 10, 2023, it’s been very difficult for Nigerians to exchange their old naira notes with new ones as banks fail to dispense the redesigned naira notes.
The situation worsens by the day as POS operators and currency racketeers trade with redesigned naira notes.
Amid the naira crisis, the increase in the price of fuel has also compounded Nigerians’ plights as petrol price rises from the official N169 per litre to N360.
The protest in Ibadan is gradually becoming a full-blown riot as 'protesters' have vandalised a bank in the gate road area of the state.
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