A version of the account had it that truck drivers who usually queued along the major road waiting for their turn to load petroleum products from tank farms in the axis, blocked entrance into companies, including banks, at about 10 a.m.
In a statement made available to BusinessDay, Chioma Afe, head, corporate communications, Diamond Bank, said the bank was set ablaze by an angry mob after a policeman allegedly shot dead a trailer driver outside the bank premises.
Reacting to the arson, Sterling Bank said the mobile policeman ran into it premises to avoid being mobbed, urging customers at the branch to patronage nearby branches.
Trouble, it was gathered, started Wednesday morning when a mobile policeman shot the trailer driver.
Police say they have brought the situation under control. However, unconfirmed reports said he was angered by the refusal of the driver to give money demanded, which is common practice between security agents and truck drivers in Apapa. The branch's reception area was vandalised and set ablaze.
Speaking on anonymity, a senior police officer said, "Those tanker drivers are very irrational".
"Security operatives attached to the bank disarmed and arrested the fleeing mobile policeman but did not hand him over to the irate mob".
The tanker drivers who were angry chased the officer into the bank where he was been protected by security guards.
Speaking to the Nigerian Tribune exclusively at the scene of the confusion, a truck driver by the name Azeez Balogun explained that Sterling Bank was burnt because they refused to handover the mobile policeman who had ran into the bank for cover after killing Tunde.
Also on ground afterwards to douse the fire were fire servicemen from the Nigerian Ports Authority (NPA) and NPA mobile policemen. The branch has been temporarily shut down.
Members of staff of the banks had to scale the fence to other buildings to make their escape.
Here's an update on the reported incident earlier in the day at our Apapa branch.
The policemen who were attached to the bank at first approached them to give access to the bank's customers to come in and carry out their financial activities.
In the ensuing melee, the two banks, Diamond Bank and Sterling Bank were torched by irate truckers.