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THERE is no substitute for good leadership in any society because it naturally generates good following by its official decisions and actions that tend to engender social harmony and inclusive political and socioeconomic progress. The obverse is also true, especially during times of crisis which a political leadership has contributed to creating. The naira redesign policy of the government has generated anguish amongst the citizenry because of the cash scarcity accompanying the policy. Sadly, the implementation of the policy has taken criminality to a new dimension in the country as “protesters” are now attacking and looting prime and almost sacred institutions like banks in broad daylight. That was hitherto an uncommon occurrence as banks were viewed as the custodians of private and community savings that must be protected.
Just as the initially peaceful #EndSARs protests in 2020 were hijacked by hoodlums who visited mayhem on human, physical and economic assets across the country, felons who are not genuine protesters have also seized control of the current strong show of public disapproval of the sloppy implementation of naira redesign which has produced naira scarcity. The scale of looting, destruction and burning of bank branches that happened, especially in Sagamu, Ogun State, gave the perpetrators away as outlaws who are not outraged and cash-strapped bank customers but mere hoodlums who simply latched onto the naira crisis to ply their usual criminal trade.
We sympathise with Nigerians over the cash crunch. There is no gainsaying the fact that untold hardship has been inflicted on Nigerians by the Central Bank of Nigeria (CBN). And it is evident that the hardship would have been avoided if the government had done its homework or if it was open to a review leading to alterations in implementation of the policy in order to obviate citizens’ pains. For instance, weeks after promises by the president and the CBN, Nigerians are still going through a harrowing experience. Irrespective of the objectives that motivated the naira redesign and the ensuing cash crunch, the policy is yet another lucid example of leadership failure and insensitivity at the highest level.
However, despite the seeming provocation and the official insensitivity to cash scarcity, the destruction of banks cannot be the solution. Rather, it can only complicate things. Indeed, it promises to compound the woes of the populace as people will no longer have access to such facilities within their immediate environment. And it will also take a long time to rehabilitate and re-equip those branches. And that is even in the event that the managements of the affected banks do not have a rethink about the continued existence of those branches on account of insecurity. What that implies is that genuine protesters who were incensed about the inability of the banks to give them cash from their deposits might face double jeopardy. And that is because customers who used to access banking services in proximate locations may no longer have such opportunity. Thus, while we sympathise with the generality of Nigerians on the current suffering, it has to be stressed that the burning of banks contributes nothing to solving the problem, but would only end up complicating things. Millions of cash-strapped citizens now have to live with the reality of the absence of bank branches lost to attacks and arson.
We expect security agencies to step in more effectively and put a stop to the violent protests resulting in the burning of banks. Nigerians have the right to protest, but that does not include willful damage of property. To be sure, we agree that the government has a duty not to create a situation that culminates in cash crisis, let alone allowing it to degenerate into brigandage. Nonetheless, we also frown on sheer lawlessness, violence and anarchy by a few which, if left unchecked, has the potential to put everyone at risk. Those misusing their right to protest and causing destruction should be apprehended and made to face the full wrath of the law.
