Banks shut down in Benin over naira scarcity violence
Following the violent destruction of Banks facilities, Point of Sale (PoS) centres, security personnel have been drafted to protect the Central Bank of Nigeria (CBN) facility in Edo State.
Commercial banks in Edo also shutdown operations across the state yesterday due to attacks on their facilities.
The beef up of security at the CBN, Benin branch, has compelled commuters to resort to alternate routes to their various destinations.
Recall that angry residents on Tuesday took to the streets to protest their inability to make withdrawals and in the process attacked and destroyed bank facilities, including Automated Teller Machines (ATM) and staff vehicles.
Four persons were reported to have lost their lives during the protest.
The attacked Banks include United Banks for African, Unity Bank, Polaris bank, Access bank, Zenith bank, First Bank and some MicroFinance banks.
POS agents were not spared as majority of the POS stands were destroyed within the Benin metropolis.
Our reporter who visited some of the banks along Akpakpava road, Sakpoba road and New Benin axis observed that the banks were not open to customers.
In most of the Banks visited, only security guards were seen manning the gates while few staff were seen standing in the premises.
A bank customer who was seen standing at the Access Bank said that she was at the bank to see if it could open to customers.
“With the level of destruction, I have seen now, I doubt if banks could opened this week. I don’t have money on me now, I came here to see if I could withdraw money”, he said.
It is not clear whether the banks would open for operations today, even as the aftermath of the protest has worsened the cash crunch situation as Benin residents found it difficult to withdraw cash yesterday from the few PoS that were in operation.
Also yesterday, schools failed to open in Benin City for fear of further protest.
Meanwhile, several persons yesterday reacted to President Buhari’s broadcast on the prevailing cash situation in the country and faulted him for failing to obey the Supreme Court injunction by directing the recirculation of the old N200 notes to the exclusion of N1000 and N500 notes.