Protesters Block Roads Over Naira And Fuel Scarcity In Ibadan

Posted by Nwa Diokpa Featured, Latest Headlines, News, News Across Nigeria Friday, February 3rd, 2023

(AFRICAN EXAMINER) – Residents of Ibadan took to the streets on Friday to protest against the lingering fuel and naira scarcity in the country.

According to available information, the protest started around the state secretariat and the government house spread to Iwo road, Gate, and other busy areas around the state.

Commercial activities were grounded in the state as protesters blocked major roads to express their frustration with the cashless policy of the Central Bank of Nigeria, which has caused hardship on citizens. .

The African Examiner recalls that in October 2022, the CBN Governor, Godwin Emefiele announced the plan to redesign N200, N500, and N1,000 notes and he asked Nigerians to deposit their old notes because the old denomination would stop to be a legal tender by January 31, 2023.

Even if the deadline has been postponed to February 10, 2023, it’s been an herculean task for Nigerians to exchange their old naira notes with new ones as banks have not been able to dispense the redesigned naira notes.

The situation has since worsened as POS operators and currency racketeers trade with redesigned naira notes.

Amid the currency crisis, the increase in the price of fuel has also increased the problems of Nigerians as petrol price has risen from the official N169 per litre to N360.