Naira Scarcity: Youths protest Naira Scarcity In Ondo

On Friday, youths in Ore, Odigbo Local Government Area of Ondo State flocked to the streets to protest the Governor of the Central Bank of Nigeria, Godwin Emefiele, decision to restrict the use of the old N500 and N1000 notes.
Old N500 and N1000 notes are no longer accepted in Nigeria, according to President Major General Muhammadu Buhari (retired), who also announced on Thursday that old N200 notes will continue to be accepted until April 10.

As evidenced by the demonstrations that took place in several cities on Friday, it appears that the President’s statement infuriated the populace. The Benin-Ore-Sagamu Expressway was blocked by the demonstrators, who were screaming songs of support and blocking traffic.

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One of the protesters told our correspondent that the President’s broadcast on the old naira notes on Thursday had indicated that he was behind the action of the Central Bank of Nigeria which caused the scarcity of the new notes.
He said, “We the masses are suffering, people are hungry, we are protesting to show our grievances, there will be no movement of vehicles here today. What Buhari said yesterday has shown that he is the one that directed the CBN to make Nigerians suffer over the scarcity of new notes and rejection of old notes by the banks.”

Another protester, who identified himself as Ibrahim, said the protest was necessary for the President to know that his speech was not acceptable to Nigerians and should reverse himself.

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“The Supreme Court had ordered the CBN to extend the deadline of the old notes but the President himself disobeyed the order of the Supreme Court and Nigerians are suffering and dying.
“For the President to tell us that the N500 and N100 old notes are no more legal tender while they are not making the new notes available is not acceptable to us.”

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