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Naira Scarcity Stairs protest in Lagos, Abeokuta



Following the ongoing Naira scarcity, angry Nigerians shut down the Lagos-Abeokuta Expressway at the Sango-Ota axis on Tuesday to protest their inability to withdraw money from ATMs (ATMs).

They set fire to disused tyres on both sides of the highway, causing severe traffic congestion. Some protesters told the News Agency of Nigeria (NAN) that the current cash crisis has caused serious pains and agony.

Mr Kazeem Sanni, the protesters’ leader, described the situation in which bank customers were unable to access their funds as unfortunate.

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He said it had been double jeopardy for bank customers as the banks would neither load their ATMs with money nor allow depositors into the banking halls to make withdrawals.

CBN already instructed banks to load their ATMs with cash and to also allow depositors to withdraw a maximum of N20,000 across the counter.

“The situation is really pathetic as this has grounded and paralysed business activities
,’’ Sanni lamented.

“We decided to demonstrate to show our grievances as we can no longer bear this hardship,
’’ he stressed.

He called on the CBN to urgently print more new notes and ensure that banks comply with its directives.

A protester, Mr Rotimi Odubanjo, noted that the inability to withdraw money from banks had inflicted untold discomfort on the people.

“We need the Federal Government to come to our assistance and ease this cash and fuel scarcity
,’’ he said.

He said the twin scarcity of fuel and money had crippled economic activities and was leading to hunger.

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