Naira scarcity bites harder after protesters attack banks in Benin
BY MIKE OSAROGIAGBON
Videos trending on social media alleging killings during Wednesday protest in Benin City, Edo State were those of #EndSars, the Public Relations Officer for Edo State Police Command, SP Chidi Nwabuzor has said.
The Police spokesman said this, when asked to confirm the numbers of persons reportedly killed during the civil disturbance occasioned by scarcity of the redesigned naira notes and the outright rejection of the old ones, which left the masses in excruciating economic pains.
Three persons were reportedly feared dead during the protests.
Nwabuzor stated: “Operatives of the command are still on the streets bringing the situation under control.
“I have not received any reports of killing of protesters from them.
“The videos you are referring to that have been treading on social media are that of ugly incident during #EndSars.
“I don’t know what they want to gain by recirculating it today. SP Nwabuzor stated.
Anger over scarcity of the redesigned naira notes and the outright rejection of the old ones swept through major roads in Benin City, the Edo State capital, Wednesday, leaving several commercial banks vandalized by the protesters.
Heavy gunfire reigned in the Benin branch of the Central Bank of Nigeria (CBN) when some protesters besieged and attempted to enter the premises.
Blazing condemned tyres, woods, POS kiosks and other inflammable objects were used as barricades on major roads by the angry residents.
First bank, Zenith, UBA, Keystone, Access, Polaris and others on Akpakpava, Sokponba, Ring Road, Mission Road, Ugbowo, Iyaro, among others in the City were not spared from the aggression.
The banks had their Automated Teller Machines’ (ATM) screens, cubicles and windowpanes smashed.
During the confusion, security operatives in some of the banks fired several shots of bullets and canisters of tear gas to repel the rampaging protesters.
Shops were hurriedly locked up as bank workers dashed for safety amid smashing of windscreens of vehicles parked in and around the banks’ premises, some of which belonged to customers.
Naira Scarcity Bites Harder After Protesters Attack Banks In Benin
Our investigation revealed that the attacks on banks in Benin City will further worsen the scarcity of naira in the state.
The banks may remain closed until the facilities vandalized are restored and the safety of the workers is assured.
Findings also revealed that the services of some POS operators may remain unavailable owing to the destruction of their kiosks during the melee.
Some residents who were visibly saddened at the magnitude of destruction on GTbank ATM at Usele Shell, lamented that they had visited four different banks to make fund transfers but the situation was the same.
“Na we dey suffer ourselves, see now ordinary transfer no place to do it, they destroyed POS shops, chased the operators away…we shot ourselves in the foot, inpatient.” They separately remarked mostly in pidgin English.
Crisis had been brewing since banks, their agents and traders stopped accepting the old 200, 500 and 1000 naira following the apex bank announcement that the old notes will cease to be a legal tender on February 10.
But before the deadline, Nigeria’s Supreme Court, on Wednesday February 8, 2023 restrained the Federal Government from enforcing it.
The apex court, in a unanimous decision by a seven-member panel, halted the full implementation of the demonetization policy of the Central Bank of Nigeria (CBN), following a suit that was filed by three Northern States; Kaduna, Kogi and Zamfara.
Although the decision of the court was in favor of the suffering Nigerian masses, the CBN has not abided by it, thereby exacerbating the already chaotic situation.
With few days to Nigeria’s general elections, it is feared that, the current situation if not carefully handled, the #EndSars Protests will be a child’s play.
