Naira crunch: Women, youths protest in Bayelsa
Protest in Bayelsa over scarcity of new naira notes and rejection of old notes
Photo; Alambo Dantoye/Radio Nigeria
Hundreds of women and youths on Friday protested in Yenagoa over the scarcity of the redesigned naira notes and the rejection of the old five hundred and one thousand Naira currencies.
The protesters from Akenfa town in the Bayelsa State capital blocked the Yenagoa-Mbiama Road, causing gridlock and a halt to socio-economic activities in the area for several hours.
The Protesting women and youths carried placards with various inscriptions, chanting solidarity songs.
The aggrieved residents said they were facing untold hardship over the unavailability of the newly redesigned currencies and the rejection of the old five thousand and one thousand Naira notes by traders and transporters.
Some of them said the situation had made it difficult for them and their families to feed, meet their basic obligations as their businesses had suffered losses due to the cash crunch.
They urged the Federal Government and the Central Bank of Nigeria to see to their plight and take measures to address the situation.
During the protest, major roads into the Bayelsa state capital were blocked, grounding vehicular movements as commuters had to trek long distances to their destinations.
Checks at the banks also indicate that the crowds have continued to increase despite the issuance of the old five hundred and one thousand Naira notes by some of the commercial banks with customers alleging that some have rejected deposits of the old currencies.
Reporting by Alambo Dantoye; Editing by Oluwaseyi Ajibade & Adeniyi Bakare