Several armed robbers on Thursday descended on Owo town in Ondo state in what appears coordinated attacks on banks, residents of the town have said.
Several banks in the town were attacked in the two-hour operation, with a manager in one of the banks reportedly shot dead.
A resident say many other people, including bystanders and passersby, are feared dead, and several others injured.
One of the attacked banks was set ablazed, a security source said.
The robbers are believed to have made away with large amounts of money from the banks.
THE PUNCH had quoted some residents as saying the robbers came into the town through the Abuja-Owo road area at about 5pm.
They started shooting sporadically into the air until they got to the heart of the town, where they robbed three banks, the paper said.
The state police commissioner, Isaac Eke, told PREMIUM TIMES the situation in the town had been brought under control.
He said the police was able to engage the robbers, killing six of them.
Mr. Eke said 12 arms and 9000 live ammunitions were recovered from the bandits.
Also recovered, the commissioner said, were six vehicles, some grenades and 55 canisters of teargas.
Mr. Eke declined to provide casualty figure in the attack, saying it was too late in the day to take count.