Cash crunch: Protesters shut down Lagos-Abeokuta expressway
Protesters on Tuesday shut the Lagos-Abeokuta Expressway at the Sango-Ota axis over their inability to withdraw money from Automated Teller Machines (ATMs).
They made bonfires of disused tyres on both sides of the highway causing serious traffic gridlock.
Some of the protesters told the News Agency of Nigeria (NAN) that the current cash crunch had created serious pains and agonising moments.
The leader of the protesters, Mr Kazeem Sanni described the situation where bank customers could not access their money as unfortunate.
He said it had been double jeopardy for bank customers as the banks would neither load their ATMs with money nor allow depositors into the banking halls to make withdrawals.
CBN already instructed banks to load their ATMs with cash and to also allow depositors to withdraw a maximum of N20,000 across the counter.
“The situation is really pathetic as this has grounded and paralysed business activities,’’ Sanni lamented.
“We decided to demonstrate to show our grievances as we can no longer bear this hardship,’’ he stressed.
He called on the CBN to urgently print more new notes and ensure that banks comply with its directives.
A protester, Mr Rotimi Odubanjo, noted that the inability to withdraw money from banks had inflicted untold discomfort on the people.
“We need the Federal Government to come to our assistance and ease this cash and fuel scarcity,’’ he said.
He said the twin scarcity of fuel and money had crippled economic activities and was leading to hunger.