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POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes
POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes
By: Bodunrin Kayode
Naira sale has become big business in the capital of Borno and Yobe states as Point Of Sale (POS) agents are making brisk business beyond the normal charges from customers.
Even the Automated Teller Machines ATM which are supposed to give customers their cash as at when needed have restricted them badly to just N2000 in some cases even as our findings indicate that they drive big amounts of new cash in their private cars back to the bedrooms of those big time business men and politicians for fear of loosing their accounts to willing bank managers.
For those in Damaturu, a smaller town and capital of Yobe State, the scarcity of old naira notes still persists as it does in maiduguri but our investigations indicate that residents are trying to survive the tensed atmosphere this has quagmire has created.
The scarcity of naira notes has caused very long queues in most of the major towns around the two states such that there are worries that some people may never have respite even after the deadline issued by the central bank of Nigeria.
It’s the same sing song in Potiskum where a security source name withheld told this reporter that the policy should have been implemented long ago and not just when the election is at the corner.
“imagine you implement a policy that you think will cripple the political class who horde billions of this same naira for the election. Do you think some of them step into the bank? The answer is no. These bankers drive the cash back into their bedrooms. So who is loosing now? It’s the common man who has to buy naira at exorbitant prices.”he pointed.
Investigation conducted by this reporter indicates that because most of the council areas of these two states do not have branches of banks, there is an acute scarcity of even the old naira notes in the hinterland 200 to 300km outside the city of maiduguri and Damaturu.
A source who also prefers anonymity in Gamboru Ngala told this reporter that some residents in the border town that have relatives in Cameroon have resolved to buy most of their needs in foreign cfa currency which is available in their area as the bite of the scarcity of the naira persists.
She went on “We become lucky only when the POS agents travel to maiduguri and bring cash for us. Even that, they charge us 300 naira for every new N1000 we ask them to change for us. Some take half of the money in the name of selling new notes to us.
” This is our sad plight because we do not have banks here, not even micro finance banks to benefit from the enormous border trade going on with the gradual advent of peace in the place.
A drive round maiduguri within the period under review indicates that some of the banks deliberately refused to pay the old money to some customers and even POS agents on the counter since Monday and that is after the central bank of Nigeria had given a directive that they should dispense cash to them.
Service providers stranded
A tailor who called himself Bomboy complained that since Monday he has been working yet people were not coming to take their clothes and pay up even old notes for services.
He said those who want to pay him are met with stiff agency charges such as 1,500 taken from their salaries for every 5000.
“So if her salary is just N15,000 monthly you can imagine how she will feel loosing up to 4,500 from her pay if she wants to withdraw the cash for keeps so she can use accordingly.” said Bomboy.
At kasua fara which is part of konduga council area of Borno, charges rose from N100 for each N5000 withdrawal to about N500 which is ten percent of the money one desires to withdraw.
In the second largest town of Bama, the report was not different right up to Pulka and Gwoza, lack of money was a recurring decimal.
The POS sellers alleged that even though it is illegal to buy the naira, they have no choice but to buy behind the counter from some willing banks to go and sell for the customers who can afford to pay for the excess charges.
Paralysis of commercial activities
The scarcity has badly affected the buying and selling going on within the city because of the fear of losses they will incur if they get to the POS which is the only leeway to escape the mammoth crowd at the banks.
Some residents who spoke to this reporter noted that going out to the Atm centres of some banks is a waste of time because after two hours of waiting you realize that it can only dispense between 3 and 5,000.
“what if my wife is sick and we need to buy drugs worth more than 5000? Do that is how I will be restricted because they now dish out only 5000 in some ATM centres averagely which is bad for business.
Meanwhile, in these the CBN has set up committees that have been going round the states to enforce compliance. In Borno the committee is headed by Mohammed Tumala, a director of statistics in the CBN.
He told this reporter that the CBN is really serious about monitoring the whole exercise and would stick to the deadline which is why they are on ground to ensure enforcement by commercial banks.
He Saud that Borno Yobe has been taken care of because over N8. 4 billion was distributed to Borno as at last week while over N4 billion has been disbursed to Yobe alone.
He said that his team has been to many areas of the state and have disbursed directly to POS and other organized groups in need of the new notes.
The team leader said that they have been working with security agencies. Icpc, efcc and other relevant groups supporting the implementation of the policy by the CBN.
Reaction from Kano
Another anonymous source in kano said that it was true that some people were making brisk businesses from the currency business.
“But it is to our own disadvantage because our kids are the people I am thinking of. How will their generation live their lives? The masses are suffering and things are not getting better in anyway.
” There is no scarcity in kano except that people are buying the notes and keeping them in their homes as surety for the dry day.
” A lot of people have turned the crave for new naira notes into business and that is the only time it becomes scarce. Imagine someone withdrawing a million while others do not have anything.
” The POS agents are equally not helping matters because they exploit people a lot, by selling the currency at cut throat prices.
” At least eighty percent of the currency in circulation is outside the banking system. Just 20 percent is within the system and that is not good for our economy.
“The cashless policy must succeed because we cannot continue to be a cash based society.
” That is why we are welcoming E naira because it will also make sure we are boarded from the cash system. It would be of great advantage to the country as such it should be embraced if we mean business with our economy.
Reaction from the Govt house
Except for those with verifiable constraints such as lacking supplies from the CBN, the State Governor, Professor Babagana Zulum has directed that any bank which refuses to dispense new naira notes via ATMs and banking halls should have its land revoked.
Zulum issued the directive over the weekend after visiting branches of banks to assess problems being faced by residents in trying to access new naira notes via long queues at ATMs amid acute scarcity and hopelessness.
“Any bank in Borno State that is not willing to ensure their ATMs are fully dispensing new naira notes cash to ease the suffering of our people, we will withdraw their land title immediately. We will only spare Banks with genuine constraints that are verifiable” Zulum said.
Before that declaration, Zulum expressed unhappiness when he saw hundreds of people queued at a bank’s branch, with only one out of 10 ATMs dispensing cash.
“As you can see here, only less privileged people are queued up. I didn’t see rich people here. Many people are said to been here since 3:00 am, some could not even eat anything. The new naira notes and even the old ones are not available and that is adversely affecting commercial activities in the state and people are suffering
“We just released salaries of about 5 billion naira and the banks don’t have money, some of the ATMs are not working. We don’t have any problem with the CBN policy or the withdrawal limit, they said individuals can only withdraw N20,000, but why can’t everyone have access to that N20,000?” he said.
“Yesterday I was in Gubio with a population of over 70,000 people but it was impossible to source N100,000 in the entire local government, neither of the new note nor the old notes. A ram that is worth N100,000 is now being sold for N35,000 because people are desperate for cash, and some wicked rich people are going to rural areas to exploit poor people. ” Said Zulum
The Governor urged the Central Bank of Nigeria (CBN) to ensure the availability of new notes at commercial banks for people to access their money.
“Right now in Borno State, I have visited more than ten ATMs and there’s no cash” Zulum said.
POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes
News
NSCDC TO COMPLY WITH THE PROVISIONS OF CYBER CRIME PROHIBITION, PREVENTION ACT 2015 IN INVESTIGATION, PROSECUTION OF OFFENDERS
NSCDC TO COMPLY WITH THE PROVISIONS OF CYBER CRIME PROHIBITION, PREVENTION ACT 2015 IN INVESTIGATION, PROSECUTION OF OFFENDERS
By: Michael Mike
The Commandant of the Nigeria Security and Civil Defence Corps (NSCDC) Federal Capital Territory (FCT) Command, Dr. Olusola Odumosu has disclosed that henceforth, investigation and prosecution of offenders of Critical National Information Infrastructure (CNII) would be carried out under relevant provisions, protection of CNII order, 2024.
Odumosu made the disclosure during a one day internal workshop to acquaint personnel of relevant department and units of the Command, such as ICT, Critical National Assets and Infrastructure, Intelligence and Investigation, Legal unit and personnel from the Area Commands and Divisions, with the provisions of the cybercrimes Acts and Critical National Information Infrastructure (CNII) order.

The workshop was convened in line with the directive of the Commandant General (CG), Prof. Ahmed Abubakar Audi, mni OFR, following the directive of the office of the National Security Adviser (ONSA) on the application of the cyber crimes prohibition, prevention etc Act, 2015, in the prosecution of offences relating to Critical Information Infrastructure (CNII) as contained in the designation and protection of CNII order, 2024.
He said some individuals apprehended for vandalism or stealing CNII, like fiber optics cables, transmission towers, communication bases and switching stations with other ICT – related infrastructure are still being charged under conventional laws applicable to theft or malicious damage which has failed to address the National Security, Economic and Strategic implications of tampering with CNII.
The FCT Boss hinted that it was imperative to note that CNII comprises of Networks, systems, and facilities especially in telecommunications, finance, energy, transportation, and Defence whose disruption could compromise National Security, Economic and Public Safety.
The Commandant said CNII remains one of the core mandates of the Corps and all hands must be on deck to ensure that Critical National Assets and Infrastructure remains secured and capable of supporting the nation’s growth in this digital era.
“This gathering is not just a response to security threats but a proactive step towards fostering collaboration, innovation and strategic planning to safeguard our cultural heritage from vandalism”

“It must be clear that the Cybercrime law underscore the fact that attacks are no longer just physical – cutting cables, vandalizing installation but also digital or hybrid system interference, unauthorized access, data tampering”.
He urged all the participants to cascade the knowledge they have garnered to officers under them to ensure that vandalism is completely obliterated from the Capital Territory.
NSCDC TO COMPLY WITH THE PROVISIONS OF CYBER CRIME PROHIBITION, PREVENTION ACT 2015 IN INVESTIGATION, PROSECUTION OF OFFENDERS
News
NSCDC Arrests Kidnap Syndicate Along Zaria-Kano Highway
NSCDC Arrests Kidnap Syndicate Along Zaria-Kano Highway
By: Michael Mike
Nigerian Security and Civil Defence Corps (NSCDC) has arrested a five-man syndicate who specializes in kidnapping, extortion, theft and criminal conspiracy and operate along Zaria-Kano road.
Briefing the journalists in Abuja, the Commandant General Special Intelligence Squad Commandant; Apollo Dandaura narrated the encounter with the notorious gang nabbed for committing brigandage and forcefully attacked one Sani Ahmad driving along Zaria to Kano and was flagged down by the gang on the account that there was danger ahead.
He said the victim, Sani Ahmad was compelled to stop the vehicle unknown to him that he was already in the hands of kidnappers who subsequently extorted valuables from him.
Sani Ahmad from his statement hinted that he is a journalist and on the said day, he was travelling with his friend, Mallam Haruna, his wife and child but the unfortunate incident happened after he dropped his friend and family in Zaria and continued his journey to Kano.
He said: “After insisting that I stopped the Car, they invaded my vehicle and picked my travelling bag, took 2 IPhones 12 Pro max, Techno Camon 40 pro and compelled me to transfer ₦300,000 through my Opay Account to an Opay account 9026238691 with the name Abdullahii Lawan Garba which was provided by one Ibrahim Abubakar after firing a gun to threaten my life”
Dandaura said the names of the suspected kidnappers are: Ibrahim Abubakar Garba, Umar Fulani, Aliyu Mohammed, Murtala Salisu and Imrana Hassan all male and have volunteered statements admitting their individual involvement in the heinous crime committed.
He said the following were recovered as exhibits from the suspects: 6 mini Smart phones, 1 IPhone 12 Pro max, 1 Techno Camon 40 Pro similar to the ones stolen from the victim at gun point already sold to Imrana Hassan; First Bank, Guarantee Trust Bank and Opay ATM cards, 1 Samsung Galaxy A15, 1 Infinix X6531B, 1 Itel keypad phone, Wrist Watches, Ear pods, Bangle, Rings and many other personal belongings.
He affirmed that thorough investigation is ongoing on the case and all suspects would appear before the Court of competent jurisdiction; he however warned travellers to be wary of late night movements noting that criminal minded persons are on rampage to extort innocent citizens most especially as the Yuletide season is very close.
NSCDC Arrests Kidnap Syndicate Along Zaria-Kano Highway
News
Global Governance Initiative: China’s Bold Step Against Hegemony, Injustice
Global Governance Initiative: China’s Bold Step Against Hegemony, Injustice
By: Dr. Bridget Chiedu Onochie
At a time when the world is grappling with complex challenges – social unrest, economic hegemony and unhealthy politics, a robust global governance system appears the only panacea. The prevailing unwholesome scenarios playing around the world not completely occasioned by natural tendencies but majorly orchestrated by leadership idiosyncrasies at the global level, no doubt, threatens human peace, and if left untamed, may further destabilize sequence of events by creating disharmony among peoples of the world.
By global governance, we refer to the systems, rules and standards that guide international relations and cooperation among countries, international organizations and other stakeholders in global development and peace. It envisages collaboration among nations towards addressing world’s challenges with international institutions such as the United Nations, World Bank and International Monetary Fund formulating inclusive, equitable and people-oriented policies.
The primary goals of global governance, include promotion of peace and security in such a manner that conflicts are prevented; fostering economic development, protection of human rights by upholding dignity and well-being of people as well as decisively combating global natural challenges such as the climate change, pandemics and any other issue of urgent global interest.
Unfortunately, the inability of the international institutions to balance national interests with global needs, guarantee fair representation and participation, and effectively address complex global challenges through cooperation, diplomacy and other relevant tools, has witnessed escalation of natural occurrences and hostilities across the globe.
The Chinese President, Xi Jinping and his country therefore deserve commendation and accolade for amplifying the call for efficient and enduring global governance.
By proposing the GGI, Xi bold stepped forward to expose existing discrepancy in global governance, especially the forcelessness of the Global South in the essential mechanisms for global governance irrespective of their contributions to world’s economy and overall development.
The gap in international relations and its governance process have over the years, denied the essential contributions and cumulative insight of the majority of the world stakeholders.
The initiative, which was proposed by President Xi on September 1, 2025, during the Shanghai Cooperation Organization (SCO Plus) meeting held at the Tianjin Meijiang Convention and Exhibition Center, among other necessities, targets necessary reforms at the global institutions’ level.
That GGI was tied to the commemoration of the 80th anniversary of the victory of the World Anti-Fascist War and the founding of the United Nations, having been established on October 24, 1945, speaks volume of Chinese attention to history and how its hands in shaping the future.
Unfortunately, 80 years down the lane, the global institutions entrusted with the responsibilities of safeguarding member countries, especially the less powerful nations from socio-economic hegemony, appeared overwhelmed while blatant disregard for territorial sovereignty permeates the world.
One of the greatest benefits of the proposed
GGI as canvassed by several well-meaning citizens of the world therefore is the expected drastic reforms of the institutions to enshrine inclusivity and mutual respect.
As aptly proposed by China, there should be a commitment to peaceful coexistence and strengthening of confidence in a manner that guarantees a win-win situation. Beyond the proposal, China has also volunteered to work with all countries to ensure that a more just and equitable global governance system is enshrined. This perhaps, may be one of the fastest lane to its long time clamour for a community with a shared future for humanity.
The Global Governance as an initiative stands on five solid pillars of sovereign equality, international rule of law, practical multilateralism, people-centered approach and taking real actions.
Through these pillars, China canvasses a global governance structure that promotes to sovereign equality by ensuring that all countries, irrespective of size, strength and wealth, are equal participants in decision-making, beneficiaries in global governance. It also seeks greater effort towards entrenching a democratic culture in international relations to the extent of amplifying the voice of developing countries by increasing their representations in international institutions.
The second pillar, which dwells on the need to abide by international rule of law, clearly defines the purposes and principles of the U.N. Charter and other universally recognized basic norms of international relations. It holds that international law and rules should be applied equally and uniformly without double standards or few countries imposed upon others.
The GGI expressed the need to uphold the vision of global governance that features extensive consultation and joint contributions for shared benefit, that which strengthens solidarity and coordination, opposed to unilateralism, and that, which firmly safeguards the status and authority of the U.N to enable it play the expected key role in global governance.
Another reason for seeking a reform of the global governance system is to make governance more people-oriented, the one that recognizes people of every nation as equal players and by so doing, gradually bridges the gulf between the Global North and the South.
There is also need to transcend rhetoric in addressing world challenges. The new GGI supports a systematic and holistic coordination of global actions and the ability to fully mobilize resources, struggle for more visible outcomes and enhance practical cooperation to prevent the governance system from disintegration.
Since no individual or country gives what it doesn’t have, it is not surprising therefore that the in past 24 years, the SCO has adhered faithfully to the Shanghai Spirit of mutual trust, mutual benefit, equality, consultation, respect for diversity of civilizations and pursuit of common development, thereby setting the pace for practical and exemplary global governance.
The fact that China’s regional affairs are inclusively discussed and provides platforms and mechanisms for actions built together and cooperation that benefits buttressed the possibility of a new global governance if players are determined and resolute.
The SCO has drawn inspiration from the lessons of the past and their contemporary implications. According to experts, foundation of the initiative was laid by issues emanating from rigorous interrogations of the prevailing existential reality and international conditions, a circumstance that promotes survival of the fittest and emphases for living before essence.
The GGI is therefore a clarion call for objective representation of every country, for collective consensus of the global family that defies factional coalitions and bloc loyalty, having been conspicuously made evident that no matter how powerful some countries may be, they may not possess adequate mechanism to deal with emerging challenges of international system exclusively.
As the wave of development blows across the globe, even the once relegated, developing, nations are experiencing subtle but accelerated progress in science and technology. That is the reality of the Global South, especially China, which has astronomically leapt into the mainstream of the contemporary global power.
Yet, the beauty of China’s development is the positive impacts that country has made on other continents and respective countries of the world, including Africa. By so doing, it has assumed, without self-gratification, international responsibilities as the emerging big brother of the Global South, not only with the deployment of its resources to translate visions to visible, actionable development but equally, building a reputation for seeking inclusive world that is peaceful, equitable and conducive for all.
Therefore, the five GIG concepts, which are already set in motion in China, should be considered imperative for the new global order. The fact that SCO has increasingly become a catalyst for the development and reform of the global governance system is something that should excite the world rather than build walls of sentiments.
President Xi in his powerful address reiterated that China was ready to work with all parties in order to uphold courageously, the great principle and the common good of the world, to promote a correct historical perspective on World War II, to resolutely safeguard the fruits of their victory in the War, to deliver more benefits to the entire humanity through the reform of the global governance system and to build of a community with a shared future for humanity.
For Nigerians across different sectors, a new Global Governance Initiative (CGI) is the long awaited game-changer. Although it is the fourth development idea proposed by China under the leadership of Xi, it is highly expected that other ideas will seamlessly fall in line if global governance is gotten right.
The Federal government of Nigeria has also described the initiative as a well thought out contribution towards strengthening the international system. As one of the Africa’s largest economies and an active participant in multilateral diplomacy, Nigeria sees GGI as a valuable platform for advancing shared priorities, including reform of the UN, inclusive governance in emerging domains and promotion of equitable development.
By this, it has joined the rest of the peace-loving countries of the world to reaffirm sustained commitment to a just, inclusive and effective international order, which reflects the aspirations of all peoples, and upholds the principles of shared responsibility and mutual respect.
For China, the Global South appreciates your contributions and constant reminder in words and actions, that no nation should be left behind. The newly proposed GGI is just one of those valuable contributions.
Global Governance Initiative: China’s Bold Step Against Hegemony, Injustice
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