Sources said the men, who numbered close to 30, blew up entrances into the banks with dynamite in an operation which lasted for more than one hour.
The banks allegedly affected by the raids are Guaranty Trust Bank, Zenith Bank, First Bank, Union Bank and Eco Bank. Punch Metro learnt that the robbers, who entered the area around 4pm, shot continuously to scare aware some residents.
They reportedly blocked roads from both Ilorin and Oshogbo and entered Owode Police Station in the metropolis.
They were said to have shot dead four policemen at the division, including some complainants.
Among those reportedly killed by the robbers were a police officer, who was expected to retire in the next few months, and a pregnant policewoman.
Punch correspondents learnt that the gunmen made away with millions of naira after shattering bank buildings, terrorising workers, customers and passersby, as well as traders and other people in the vicinity.
A witness, who did not want to be identified, said he saw the corpses of six policemen.
The Kwara State Police Public Relations Officer, Mr. Ajayi Okasanmi, confirmed the robbery in a telephone chat with Punch Metro.
He also confirmed that there were casualties, but he could not confirm the number of dead people and how much was stolen.
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