Heavy Security Presence As Kaduna Residents Besiege CBN Premises

Kaduna, Nigeria – The Central Bank of Nigeria (CBN) in Kaduna was besieged on Thursday by residents who were protesting against the increasing rate of inflation in the country. The situation led to a heavy security presence in and around the premises.

According to eyewitnesses, the protesters gathered early in the morning outside the CBN office, carrying placards and chanting slogans to demand a reduction in the cost of living in the country. The protesters claimed that the current inflation rate had made life unbearable for them.

The situation, however, escalated when some of the protesters attempted to force their way into the CBN premises. The security operatives stationed at the gate were overwhelmed, leading to the reinforcement of security personnel in the area.

The heavy security presence includes personnel from the Nigeria Police Force, the Nigeria Security and Civil Defense Corps (NSCDC), and the Nigerian Army. Their swift intervention helped to restore calm to the area, although some protesters were arrested for attempting to break into the CBN office.

Reacting to the situation, the Kaduna State Government urged the protesters to remain calm and law-abiding while promising to look into their demands. The state government assured residents that it would work with the federal government to find lasting solutions to the current economic challenges facing the country.

The CBN has not issued any official statement on the incident, but sources within the bank confirmed that operations were not affected. The bank continues to carry out its statutory responsibilities and has assured the public of its commitment to maintaining stability in the financial system.

Inflation in Nigeria has been on the rise for several months, with the latest figure from the National Bureau of Statistics putting the inflation rate at 16.47% in January 2023. The rising cost of living has led to protests across the country, with citizens demanding a reduction in the prices of essential commodities.

The security operatives have since taken over the CBN premises, and the situation remains calm. The Kaduna State Government has urged residents to remain peaceful and law-abiding as it works to address the economic challenges facing the country.