Naira Scarcity: Banks Burnt In Early Morning Sagamu Violence

Protests have once again erupted in Ogun State over the naira scarcity, with videos online showing two banks set on fire in the Sagamu area of the state.

The fresh spate of violence reportedly broke out as early as 8am on Monday as a result of alleged stoppage of the banks’ operations with Automated Teller Machines reportedly not dispensing cash since last week.

The videos shared on Monday showed many residents watching as Keystone and Union banks were set ablaze with some youths holding planks in protest.

With bonfires, the protesters barricaded the Sagamu-Benin expressway preventing human and vehicular movements.

The Akarigbo of Remo, Oba Babatunde Ajayi, has called for calm.

A statement from the palace read, “I  appeal to all to remain calm and peaceful as we continue to engage the Federal Government

“This policy is not from the state or local government. Therefore, the destruction of lives and properties will only compound an already bad situation.

“I urge our people to continue to accept the old notes in line with the Supreme Court ruling. No person who accepts the old notes would lose out. I can assure you of that, and please hold on to that promise.”