‘Why Do You Have to Make Us Suffer?’ – Nigerians Lament, Storm CBN, Banks Shut, Youths Protest

By Olaitan Oye-Adeitan, Oluwayemisi Owonikoko, Maxwell Oyekunle

With the adjournment of the suit on the redesigned naira brought before the Supreme Court by governors of Kogi, Kaduna and Zamfara states against the Federal Government and Central Bank of Nigeria, CBN, to 22nd February 2023, one would have expected reprieve and relief for Nigerians.

But, this has not been the case. Hundreds of customers besieged the Central Bank of Nigeria, Ibadan branch, on Wednesday, 15th February to deposit their old naira notes as commercial banks in the metropolis refused to collect the old notes.

Endless Scramble for Sparse New Notes as Hands Reject the Old

Residents of the city in the past two days had been rejecting the old notes for any transaction at the expiration of the February 10 deadline given by the Federal government.

The Supreme Court had on 8th February, before today, February 15 ruling, temporarily halted the move by the Federal Government to ban the use of the old naira notes from February 10, 2023, a development which gave Nigerians great relief.

This relief however did not last as Nigerians since the February 10 deadline could no longer spend the old naira notes while the commercial banks also stopped collecting it from customers, despite the fact that the new naira notes were still not sufficient nor available.

Meanwhile, following the supreme court order, few banks issued the old naira notes again to customers who from dusk to dawn, had always waited at the ATMs to withdraw money.

The Central Bank insisted the old notes had ceased to be legal tender since the 10th of February and asked customers still having the old notes to visit the apex bank to deposit the old notes with laid down guidelines.

The situation has now generated tension and confusion in the land as Nigerians amidst tears lament the unwarranted untold hardship inflicted on them as captured in the video.

To another resident of the city, Mr Osas, what is happening has been foretold by the Holy Scriptures.

Many are also becoming sceptical about the coming elections which are just at the door if the situation is not remedied.

As at the time of filling this report, a combined team of security personnel including the Nigerian Army and the Police force have been strategically positioned around the CBN while the crowd that earlier besieged the bank had dispersed.