The scarcity of the new naira notes took its toll on Port Harcourt, Rivers State on Friday as violent protests erupted in the city.
The protest spread to the Ikoku area of Mile 3 down to Ikwerre Road in Mile 1, all in the metropolis.
Many traders locked their shops and fled.
A detachment of policemen in patrol teams and an Armoured Personnel Carrier has been stationed in the area to quell the situation.
Meanwhile, the hoodlums hijacked the protest to rob and dispossess passers-by of their possessions.
Scores of hoodlums invaded the Mile 3 and Mile 1 markets forcing traders to accept the old notes or risk their goods.