Commercial activities have been grounded in some areas in Ibadan, the Oyo State capital, following a protest embarked upon by residents over the deadline of the naira swap.
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has stated that old naira notes — N200, N500 and N1,000 — have stopped being legal tender.
The directive has resulted in the refusal of the notes in any business transaction by the traders at major markets in Ibadan.
Sequel to this development, residents took to the streets chanting war songs, as well calling for the removal of the CBN governor.
Areas affected by the protest in Ibadan as of the time of filing this report included Ologuneru, Sango Polytechnic road, Eleyele, Mokola roundabout, Academy, Iwo Road and Dugbe.
As a result of the protest, many businesses including banks have been forced to shut down.
One of the protesters, who is a tricycle operator, while speaking on a radio station, lamented that the hardship is becoming unbearable with petrol stations and banks refusing to accept the old naira notes.
Security operatives including military personnel have been deployed in the affected areas to maintain peace.
Armed policemen and soldiers are strategically positioned at Mokola roundabout.
Efforts to get the Police Public Relations Officer, Adewale Osifeso, for his comment on the development, proved abortive as of the time of filing this report.
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