Naira Scarcity: Hundreds of Aggrieved Nigerians Take Over CBN in Marina, Lagos to Swap Notes

Naira Scarcity: Hundreds of Aggrieved Nigerians Take Over CBN in Marina, Lagos to Swap Notes

  • The Central Bank of Nigeria (CBN)'s office in Marina, Lagos state, has been taken over by protesters
  • According to a viral video making the rounds on social media, hundreds of Lagosians were seen demanding a swap of the old naira note
  • This development is coming on the heels of the CBN's directives that Nigerians should return their old N200, N500 and N1000 notes

Lagos, Marina - Streams of protesters have stormed the premises of the Central Bank of Nigeria (CBN) protesting the scarcity of the new naira notes.

As reported by Daily Trust, some of the protesters were lamenting the refusal of commercial banks to change the old naira notes.

CBN, Marina
The protesters at the CBN office in Marina Lagos were seen in the viral video struggling to swap the old naira notes. Photo: @AIT_Online
Source: Twitter

This happened after President Muhammadu Buhari's national address on Thursday, February 16, where he declared that the N500 and N1000 old notes are no longer legal tender.

Read also

Naira scarcity: Lagos police disperses protesters, restores normalcy, reveals next line of action

President Buhari, in his national address, noted that the old N200 denomination can still be in use for the next 60 days.

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However, his decision has been criticised by his governors and kingsmen in the northern region.

The likes of Governor Nasir El-Rufai of Kaduna state, Governor Abdullahi Ganduje of Kano state, Governor Yahaya Bello of Kogi state and a host of other governors of the All Progressive Congress (APC) have kicked against the President's declaration.

Meanwhile, video images sighted by on social media reveals that the crowd outside the premises of CBN office in Lagos could be summing up to a thousand.

The clips saw them ranting and raging in anger and looking ready to cause mayhem if not controlled by security operatives.

Naira Scarcity: Lagos Police Disperses Protesters, Restores Normalcy, Reveals Next Line of Action

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Naira Scarcity: Influential governor takes to street, mobilizes POS operators to dispense cash

Meanwhile, the Lagos state commissioner of police, CP Idowu Owohunwa, has conducted an on-site assessment of the areas disrupted by violence.

His visit came on the heels of the protest that erupted in the Mile 12 area of Kosofe local government.

It was gathered that the protest started in the early hours of Friday, February 17, which according to reports, was caused by the persistent scarcity of naira.

CBN: Tinubu Makes Strong Appeal After Naira Scarcity Protests Across Nigeria

In another development, APC flagbearer, Bola Tinubu has said he is not happy as protests rock major states in Nigeria due to the scarcity of Naira notes and fuel shortages.

Tinubu appealed to Nigerians to be patient with the CBN as all hands are on deck to make the new notes readily available in the country.

The former governor of Lagos state particularly urged the youths to shun all forms of violence and focus on the major task, the 2023 presidential election.


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