Robbers caused chaos in Iwo town in Osun State on Tuesday as they raided three banks, killing three policemen in the process.
Witnesses said the robbers first attacked a police station in the area before proceeding to the banks and pulling out Automated Teller Machines in search of cash.
One of the witnesses said the robbers stormed the area around 4 pm, shooting repeatedly and causing residents to scamper for safety.
In the process, the three policemen were killed while one of the robbers was shot and killed.
The police have yet to official confirm the incident.
The Police Public Relations Officer (PPRO) in the state, SP Folashade Odoro, could not be immediately reached for comments as her mobile phone was not reachable as at the time of filing this report.