How One Reportedly Died As Police Resist Attempt To Overrun CBN Office 

Details have emerged on how a mob moved to attack the office of the Central Bank of Nigeria on Akpakpava Road in Benin City, the Edo State capital.

This came as earlier reports indicated that the mob protesting the scarcity of Naira had attacked several banks on the road.

They destroyed some bank buildings and their automated teller machines.

The protesters went on rampage following the scarcity occasioned by the redesign of the N200, N500, and N1,000 notes.

The CBN had explained that over N2.7 trillion in circulation was outside the banking system.

In two months, that is by January 29, 2023, it had mopped up N1.9 trillion, but printed only N400 billion through the Nigeria Security Printing and Minting PLC, also called MINT.

Advertisement

This has led to shortage of cash for transacting businesses, with the IT infrastructure of banks unable to support the sudden movement to a cashless economy.

In Benin City on Wednesday, like it was in several other cities, including Ibadan in Oyo State, protest was the order of the day.

Various banks on Akpakpava Road were attacked, with bonfires set at different points.

One person was feared dead in the viral video on the road in front of the CBN, according to The Eagle Online.

The mob descended on the CBN as bullion vans made their way into the premises.

Advertisement

After several gunshots and firing of teargas canisters, a voice making remarks said one person had been shot dead and was on the floor.