Ibadan Witnesses Protests Over Inability to Withdraw New Naira Notes from Banks


Customers in Ibadan, the capital of Oyo State, took to the streets on Friday to protest the scarcity of new Naira notes.

The Central Bank of Nigeria (CBN) recently introduced the newly designed N200, N500, and N1000 denominations and instructed commercial banks to fill their ATMs with the new currency.

The CBN gave a deadline of January 31st, 2023 for the exchange of old banknotes, which was later extended to February 10th.

Despite the directive to dispense new notes over the counter, most customers in Ibadan were unable to withdraw their money on Friday.

This led to protests in various parts of the city, including Agodi Gate, Idi Ape, and Iwo Road. Tyres were burned in an effort to show displeasure. Residents in these areas confirmed that protests are ongoing.

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