Naira Scarcity: Edo Protesters Block CBN Gate In Benin, Banks Vandalized And Burnt, One Shot Dead (Photos/Videos)

Written By Oshiobugie Omo-ikirodah....KINDLY READ THE FULL STORY HERE▶

Angry residents of Edo state capital, Benin City takes protest to a different part of the city to show a high level of frustration over the CBN policy which rules out the use of old naira note.

The CBN who were adamant to the supreme court’s judgement to increase the deadline date. Banks and other financial institutions have refused to accept old naira notes due to CBN Governor, Godwin Emefiele’s guidelines.

The naira redesign was expected to do three things for the Nigerian economy.

Firstly to boost the naira value against the dollar, pound, euro and other currencies. Secondly, To reduce the money in circulation so as to curb bribing at polls in the forthcoming election in order for Nigerians to choose their preferred candidate. Thirdly, So Nigerians will embrace Nigeria’s crypto e-naira as a new form of transaction, Lastly to ensure every Nigerian uses more wireless transfer which will avoid tax evasion. Outcome of the naira redesign is an eyesore, people getting naked in banking halls, Banks being vandalized and burnt to ashes, Nigerians in hunger, indeed the naira redesign has done more harm than good to both the masses and the economy. CONTINUE READING

Edo state is crowned the home of protest of recent as multiple protest has be ongoing in different communities for months due to bad governance, fuel scarcity and naira scarcity.

Residents of the state capital took their protest to CBN, blocked the gate and were unwilling to back down. A vehicle which came out of CBN was heavily protected by police officers because of protesters who were ready to vandalize the Hilux vehicle.

Source claim UBA bank in the state has been burnt and First bank in Oba market has also been burnt

One death has been recorded in the on going protest in Benin city. Nigerians should calm down no matter the level of protest CBN will not release the new naira note. Recall that CBN claim to have insufficient paper to print new naira notes and also INEC has complained of lack of funds to run the incoming general election on the 25th of this month. What does this mean to you? do you sense an interim government? while the election is postponed till the crisis in the country is resolved?

Watch video below of the on going protests in different part of the Edo state: