Naira scarcity: Ogun Police arrest 27 suspects over destruction of banks, violence

The Ogun State Police Command has arrested 27 suspects in connection with the pandemonium that broke out in Sagamu on Monday morning.

The Police Public Relations Officer in the state, SP Abimbola Oyeyemi, disclosed this on Monday, a few hours after the violence, which led to the destruction of two banks, broke out.

Oyeyemi in a terse statement said normalcy has returned to the area.

He said “normalcy has been restored in greater parts of Sagamu now. CP Frank Mba is personally leading police teams and some military men to tackle the situation.

“About 27 suspects have been arrested.”

There had been reports of violence that broke out on Monday morning when some irate youths in Sagamu, Ogun State, went on the rampage following their inability to withdraw cash.

With bonfires, the protesters barricaded the Sagamu-Benin expressway and others, preventing human and vehicular movements.

Our correspondent gathered that the violence broke out as early as 8am when the angry youths took to the streets and started the violence.

The violence erupted as a result of the alleged stoppage of the banks’ operations.

It was further gathered that the youths got enraged when the Automated Teller Machines reportedly stopped dispensing cash last week.

President Muhammadu Buhari had last week ordered that the old N200 notes be allowed to co-exist with the new notes till April 10 while both old N500 and N1,000 notes ceased to be legal tender..

Some residents who spoke with our correspondent said two banks were damaged.

The affected banks, according to them, were Keynote and Union banks.

The Akarigbo of Remo, Oba Babatunde Ajayi, has called for calm.

A statement from the palace read “I appeal to all to remain calm and peaceful as we continue to engage the Federal Government.

“This policy is not from the State or local government. Therefore, the destruction of lives and properties will only compound an already bad situation.

“I urge our people to continue to accept the old notes in line with the Supreme Court ruling. No person who accepts the old notes would lose out. I can assure you of that, and please hold on to that promise.”

“Further, I am also mandating all our market people to continue to accept the old notes. I hereby undertake that no one will lose out for possessing the old notes.”

No comments

Post a Comment

Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)

Advert Enquires - Reach out to us at

© Copyright © 2023 | Your Online Nigerian Newspaper | All Rights Reserved