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Protest Rock Ibadan Over Customers’ Inability To Withdraw New Naira Notes

The Central Bank of Nigeria, CBN, had a few weeks ago introduced the newly redesigned N200, N500 and N1000 denominations across the country.

 Bank customers in Ibadan have been finding it difficult to withdraw money. Therefore, the situation forced some residents of the Oyo State capital to take to the major streets in Ibadan, Oyo State capital on Friday to protest.

The CBN  had also directed commercial banks to fill their Automated Teller Machines, ATMs, with the newly redesigned naira notes. It also gave 31st January, 2023 as the deadline for the exchange of the old bank notes before extending till 10th February. It has also directed commercial banks to pay customers the new naira notes over the counter.

It was gathered that  majority of the bank customers who went to withdraw money on Friday at various banks in Ibadan could not do so. This sparked protests in some parts of Ibadan.

Some of the areas where the customers are currently protesting are Agodi Gate, Idi Ape and Iwo Road.

The protesters burnt several tyres so to register their displeasure.

A resident of Gate who spoke with DAILY POST said that the protesters were protesting their inability to withdraw money from the banks.

“Protests are currently ongoing at Gate and Iwo Road as I speak with you. They are burning tyres now,” he said.

A resident of Iwo Road also confirmed that the protest is ongoing.

“Yes. There is a protest here. People are currently protesting at Iwo Road over inability to collect their money from banks,” he also said.

“The protest started at the Agodi gate, at the intersection that leads to the state secretariat and the government house. The protesters started a fire near the secretariat and around the spare parts market but they were quickly dispersed by security personnel (Operation Burst) from the secretariat,” he said.

Tayo Lawal, another resident, told The Cable that operators of point-of-sale (POS) terminals are also being attacked in some parts of the state over the exorbitant fees they charge for transactions.

“The protest is about the fuel scarcity and naira,” Lawal said.

“It started around the spare parts market in Agodi-gate and has spread to other areas.

“POS operators are also being attacked because of the high fee they are charging on withdrawal.”

The resident said the protesters accused the POS operators of collaborating with bank officials to withdraw large sums of the new naira notes while ordinary persons get little amounts after queuing for long hours.

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