Friday saw a protest in the streets of Ibadan, the capital of Oyo State, against the continuing shortage of naira notes and scarcity of petrol.

In October 2022, Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), announced the plan to redesign the N200, N500, and N1,000 notes, and asked Nigerians to deposit their old notes before January 31, 2023 when they would cease to be legal tender.

Despite the deadline being moved to February 10, many Nigerians have had trouble getting their hands on the new naira notes.

Long lines have formed at filling stations around the country as a result of the premium motor spirit (PMS) price hike that has been occurring steadily during the monetary crisis.

The demonstrators’ actions caused gridlock in the capital city’s streets.

The protest started at the Agodi gate, at the intersection leading to the state secretariat and the Government House. The protesters started a fire near the secretariat and in the vicinity of the spare parts market, but they were soon put out by Operation Burst security troops stationed at the secretariat.

In an assault by the demonstrators, a police officer working for the Governor’s Office was hurt.

Following rumours that isolated pockets of protesters had roiled the nation’s capital, the Secretariat gate was sealed.

But the demonstrators, who arrived with sticks, wood, and other potentially hazardous weapons, pulled the Secretariat’s two main gates open, forcing security personnel on the ground to take cover.

The demonstrators made their way straight to the Governor’s Office and tried to force the gate open as many employees and those within the Secretariat fled for safety.

The on-duty police officers’ resistance, which included firing blank bullets into the air, led the demonstrators to throw stones and other deadly objects into the governor’s office.

Point-of-sale (POS) terminal operators also came under attack. In several regions of the state, point-of-sale (POS) terminal operators came under attack due to the excessive transaction fees they demand.

The protesters accused the POS operators of collaborating with bank officials to withdraw large sums of the new naira notes while ordinary persons get little amounts after queuing for long hours.

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