Yola - Many people were feared when gunmen raided bureau de change in the commercial border town of Mubi in Adamawa on Wednesday, the News Agency of Nigeria (NAN) reports.
Eye witnesses told NAN in Mubi that the incident occurred at about 2p.m.
"The fully armed men, numbering about 20, stormed the market and headed to the shops where businessmen deal in local and foreign currencies.
"They fired sporadically and I saw four people in pools of their blood. They ransacked the shops and escaped on foot using the road that led to the river not too far from the market.
"As I speak to you, soldiers drafted to the town to enforce the state of emergency have mounted more check points in the town.
"They have begun the hunt for the gunmen. Some of them have followed the escape route used by the robbers", Danladi, an eye witness, said.
Another eye witness, Idris Maraba, said he counted about eight people being rushed to hospital but could not say if they were dead or injured.
"Gun shots were too much and I will be surprised if nobody is killed during the operation", Maraba said.
The Commanding Officer of the Special Operation Battalion in Mubi, Lt.-Col. Beyidi Martins, in a text message, said soldiers had caught up with the fleeing gunmen near Digil village.
"Martins said the soldiers had engaged the gunmen in a shootout as at the time he responded to NAN's enquiry.
"Police spokesman in the state, DSP Mohammed Ibrahim confirmed the incident but said he was yet to get the details.
"NAN reports that the attack was the second this year.
"In the first attack, soldiers arrested some gunmen and recovered a substantial amount of money from them.
"Some local and foreign currencies, including naira, dollars and French francs recovered from the thieves, were returned to the owners.
Mubi, also grappling with attacks by insurgents, is under curfew from 7p.m. to 5a.m. imposed by the military three weeks ago.