On Monday morning, youths in Sagamu went on the rampage because they were unable to withdraw money from any bank or ATM (ATMs).
As early as 8:00 a.m., the disgruntled youths flocked to the streets to express their discontent.
The youths’ anger followed the inability of banks and ATMs to issue cash shortly after President Muhammadu Buhari instructed them to recycle the old N200 notes.
Protesters blocked the Sagamu-Benin motorway and other routes with bonfires, restricting human and vehicular circulation.
Oba Babatunde Ajayi, the Akarigbo of Remo, has urged for calm.
In a statement signed by the Oba, he urged everyone to stay calm and peaceful as negotiations with the Federal Government continued.
“This policy is neither State nor local in origin. Destruction of life and property will thereby exacerbate an already dire situation.
“I urge our people to continue accepting the old currency in accordance with the Supreme Court’s decision. No one who accepts the old currency would suffer a loss. I can assure you of this, so please hold on to my word.”
“Furthermore, I am directing that all of our market personnel continue to accept the old notes. I thus guarantee that no one will be disadvantaged for owning the old currency.”
