Naira Scarcity Sparks Protests Across Nigeria

The naira crisis sparked violent protests in parts of the country yesterday as most bank branches hurriedly shut down operations.

A First Bank branch was torched in Ogun State during the protest in which a man was shot.

Abeokuta, the state capital, was thrown into chaos as angry youths blocked some roads, set bonfires and destroyed billboards as anger over naira scarcity boiled over.

In Ondo State, residents marched on the Benin/Ore expressway, causing a gridlock that left many travellers stranded.

The biting cash crunch was worsened by the rejection of online and Point of Sale (PoS) payments by businesses, especially petrol stations and transport companies.

Travellers were caught up in the aftermath of the economic upheaval when angry Nigerians blocked the busy Benin-Ore highway in protest.

The protesters were also frustrated by the scarcity of petrol which has lasted for about six months and appears to be worsening.

-The Nation