The development is a result of the redesigned currency policy of the country’s apex financial institution- the Central Bank of Nigeria (CBN).
CBN, in 2022, announced the currency redesign policy and gave 31 January deadline for the N200, N500, and N1,000 old notes to remain legal tender in the country.
Following outcries by many Nigerians including state governors and the leadership of the ruling political party- All Progressives Congress (APC), the CBN announced a deadline extension of an additional 10 days while also approving the CBN to continue to accept the deposit of the designated old naira notes.
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However, the new notes in circulation have been found to be grossly inadequate compared to the old notes withdrawn from circulation. And in response to the challenges, protesting Nigerians have continued to descend on bank branches and public facilities, burning some of them down.
Just on Monday, three branches of different banks were vandalised and razed in Sagamu, Ogun State, South-west Nigeria, while other public facilities were also torched by the violent protesters.
But some state governors have mandated their residents to continue to trade in the old currency notes, defying President Muhammadu Buhari’s directive that only the old N200 notes should be released back into circulation and be spent concurrently with the new notes.
About the deceased
Sources confirmed that the late official joined the university in 1986 as a Typist II, and rose through the ranks to become a chief executive in charge of accounts at the bursary.
PREMIUM TIMES learnt that the deceased’s wife also works at the same bursary unit on the campus.
“He was expected to retire in 2024. His wife also works in the same unit. So, it was just an unfortunate incident,” another source said.
