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Naira scarcity: Protesters reportedly attack banks in Lagos as Sanwo-Olu appeals against protests

Chike Olisah by Chike Olisah
February 17, 2023
in Business News
Naira scarcity: Protesters reportedly attack banks in Lagos as Sanwo-Olu appeals against protests
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The violence and riot over the naira scarcity which was earlier reported in Mile 12 and Agege areas appear to be spreading to other parts of Lagos as some hoodlums in the Epe area of the state are reported to be using the opportunity to attack banks in the area.

According to Punch, a source who wished to remain anonymous listed the banks that were attacked to include Zenith, Access, and Keystone banks.

Also, some pictures which have emerged on social media show banks in the area with broken glass with many banks in the area temporarily suspending operations in the area due to the attacks.

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Lagos Police confirms attacks

The Lagos State Police Public Relations Officer, Benjamin Hundeyin, also confirmed the attacks on some banks in the area.

  • He said, “Three banks were attacked in Epe but our men are already on the ground,”
  • Upon an earlier inquiry on the situation in Epe which was reported to be heating up, the Lagos Police Spokesperson said, ‘’Police teams deployed. Situation monitoring ongoing.’’

Governor Sanwo-Olu appeals against protests

Meanwhile, the Lagos State Governor, Babajide Sanwo-Olu, has appealed to Lagosians to avoid protests over the naira scarcity caused by the naira redesign policy, expressing deep concern over reported cases of violence and protests.

Governor Sanwo-Olu, through a statement by the Lagos State Commissioner for Information and Strategy, Gbenga Omotosho, acknowledged the anger of the protesters over the hardship caused by the naira scarcity.

He, however, praised Lagosians for their understanding despite the pains caused by the Federal Government’s policy and urged them to continue to be law-abiding by shunning any form of incitement by mischief makers.

  • Omotosho in the statement said, “The Lagos State Government has noted with deep concern the protests in some parts of the state this morning.
  • “The protesters are said to be angry over the Naira redesign and its consequent scarcity that has caused so much hardship and confusion among our people.
  • “There is no need for violence as the Supreme Court is looking into this controversial matter and will make its position known on February 22.
  • “Lagos State has since joined the legal dispute- all in the interest of our people – in the belief that the highest court in the land has the capacity to adjudicate on the matter.
  • “The fuel situation is easing following some steps taken by the government.
  • “The government praises Lagosians for showing understanding, despite the pains that the Federal Government’s measures have brought. Residents should continue to be law-abiding by shunning any form of incitement by mischief makers.”

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Tags: Access Bank and Zenith BankKeystone BankLagos police
Chike Olisah

Chike Olisah

Chike was a banker with over 11 years experience in retail and commercial banking, risk management, treasury portfolio management and relationship management. He also acquired some experience in financial management and do have some special interest in investment analysis and personal finance. He had stints with financial institutions like the former Intercontinental Bank and Fidelity Bank.

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