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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
UN Women, Diplomats, Nollywood Stars Intensify Push for Special Seats Bill With New Advocacy Film
UN Women, Diplomats, Nollywood Stars Intensify Push for Special Seats Bill With New Advocacy Film
By: Michael Mike
The Nigeria office of UN Women, alongside diplomats, civil society groups and Nollywood stars, has intensified pressure for the passage of the Special Seats for Women Bill with the premiere of a new advocacy film aimed at confronting the persistent exclusion of women from Nigeria’s political leadership.
The film, Ibukun and the People, was screened at the weekend in Abuja under the Side by Side Naija campaign as part of efforts to mobilise nationwide support for increased women’s representation in parliament and decision-making positions.

The production, supported by UN Women, the Foreign, Commonwealth and Development Office and the Government of Canada, brought together actors, development partners, women groups, civil society organisations, media practitioners and advocates of inclusive governance.
Featuring prominent Nollywood stars including Ivie Okujaiye, Uzee Usman and Joke Silva, the movie highlighted the structural barriers, intimidation, stereotypes and political exclusion confronting women seeking elective offices in Nigeria.
Speaking at the event, the UN Women Representative to Nigeria and ECOWAS, Beatrice Eyong described the initiative as a strategic intervention designed to deepen conversations around gender inclusion and strengthen advocacy for the Special Seats Bill.
She said women’s inclusion in governance must be seen as a national development imperative rather than an act of charity.
“Not as an act of charity, but as a necessity for national development. We need more women at the table when decisions that affect them are made. That is what the movie is advocating,” she said.

Eyong urged Nigerians to look beyond the entertainment value of the production and confront the realities women continue to face in politics, expressing optimism that the movie would inspire broader support for women seeking political offices.
She also commended the actors and production crew for volunteering their talents in support of the advocacy campaign.
The British Deputy High Commissioner to Nigeria, Gill Lever, described women’s participation in politics as an urgent democratic priority, noting that storytelling remains a powerful tool for driving policy conversations and social change.
According to her, the film aligns with ongoing advocacy for affirmative action and could help accelerate reforms that promote inclusive governance.
Also speaking, the Ambassador of Belgium to Nigeria, Pieter Leenknegt, said reserved seats remain one of the practical pathways for improving women’s representation in Nigeria’s political system.
He, however, stressed that broader political reforms and education were equally critical in addressing gender imbalance in leadership.
Similarly, the Ambassador of Finland to Nigeria, Sanna Selin, said gender equality promotes peace, social justice and sustainable development.
She noted that inclusive governance benefits society as a whole through improved stability and economic progress.
The Country Representative of United Nations Population Fund in Nigeria, Muriel Mafico, reaffirmed the commitment of United Nations agencies to supporting the passage of the Special Seats Bill to boost women’s representation in governance.

Director-General of the Maryam Babangida National Centre for Women Development, Adedayo Benjamins-Laniyi, urged women to sustain grassroots mobilisation and remain united in the campaign for increased political participation.
Women’s rights advocate, Ene Obi, said the proposed legislation would help correct Nigeria’s political imbalance and create opportunities for women to contribute more meaningfully to national development.
She called on men and key stakeholders to actively support the bill and champion the inclusion of women in leadership and governance.
President of the League of Women Voters of Nigeria, Irene Awunah-Ikyegh, described the bill as a crucial affirmative action measure needed to deepen democracy and empower women politically.
The National President of the National Council of Women Societies, Edna Azura, commended the organisers and young filmmakers for deploying cinema as a platform for social advocacy and democratic inclusion.
Director of the film, Patience Ejoke-Ogedegbe, said the movie sends a strong message that competent women should no longer be intimidated, blackmailed or discouraged from contesting political positions.
Actor Uzee Usman, who played the role of a senator in the film, stressed the need to encourage and support more women to seek elective offices.
Lead actress Ivie Okujaiye said the production would inspire women to challenge stereotypes and resist intimidation while pursuing leadership positions.
Guests at the screening praised the movie’s production quality, storyline and performances, describing it as socially impactful and politically relevant.
The event also featured the presentation of awards to some of the actors and advocates in recognition of their contributions to gender equality and inclusive governance in Nigeria.
UN Women, Diplomats, Nollywood Stars Intensify Push for Special Seats Bill With New Advocacy Film
News
Korean Cultural Centre Deepens Nigeria-South Korea Ties Through K-Heritage Festival in Abuja
Korean Cultural Centre Deepens Nigeria-South Korea Ties Through K-Heritage Festival in Abuja
By:Michael Mike
The Korean Cultural Centre Nigeria has intensified efforts to strengthen cultural diplomacy and people-to-people relations between Nigeria and South Korea through the expansion of its K-Heritage Festival, an initiative aimed at promoting traditional Korean arts, music and cultural education in Nigeria.
Organisers said the Abuja edition of the festival reflects growing cultural exchanges between both countries and a deliberate effort to expose Nigerians to Korea’s rich traditional heritage beyond the globally celebrated K-Pop culture.
Speaking during the event in Abuja at the weekend, the Event Manager at the Korean Cultural Centre, Yoonjin Lee, said the festival was created to showcase the depth of Korean traditional performances and cultural identity to Nigerian audiences increasingly fascinated by Korean entertainment.
According to her, although K-Pop has gained massive international popularity among young people, the K-Heritage Festival was designed to introduce Nigerians to the traditional roots of Korean culture through indigenous music, dance and live performances.
“K-Pop is more like the modern type, more attracted by young people. But the K-Heritage Festival is trying to also bring Korean traditional performances to Nigeria,” she said.
The festival, which debuted in Lagos in 2025, was extended to Abuja this year as part of efforts to widen participation and deepen cultural engagement across Nigeria.
This year’s edition featured performances by Korean traditional performance duo Sorichum, comprising Melissa Minseong Seo and Hyunjung Park, who entertained audiences with displays of traditional Korean music and dance.
Beyond the stage performances, the artistes also organised intensive two-day cultural workshops where Nigerian participants were introduced to Korean fan dance and the traditional Korean percussion instrument known as the Janggu.
Participants who took part in the workshops later performed during the festival alongside students of the Korean Cultural Centre and winners of previous K-Pop competitions.

Lee described the level of enthusiasm and commitment shown by Nigerian participants as remarkable.
“The students only learned for two days, but they performed perfectly. People are really enjoying it,” she said.
According to her, the response from participants and audiences demonstrates that Nigerian interest in Korean culture is evolving beyond contemporary pop entertainment into deeper appreciation for traditional Korean heritage.
She stressed that the K-Heritage Festival forms part of the centre’s broader cultural mission to present multiple dimensions of Korean identity, history and artistic traditions to Nigerians.
“We really want to show different stages of Korean culture. K-Pop is very big, but as a Korean Cultural Centre, we also want to bring traditions and opportunities for people to experience them,” she added.
The growing popularity of Korean cultural programmes in Nigeria mirrors a wider global expansion of the “Korean Wave,” popularly known as Hallyu — a phenomenon driven by the international success of Korean music, films, television dramas, fashion and cuisine.
Over the past decade, South Korea has increasingly deployed cultural diplomacy as a soft-power strategy to strengthen global influence and international partnerships, particularly among younger populations.
Nigeria has emerged as one of the leading African countries embracing Korean cultural exports, with rising participation in K-Pop contests, Korean language classes, film screenings and cultural festivals organised by the Korean Cultural Centre in Abuja and Lagos.
The Korean Cultural Centre Nigeria, established to promote mutual cultural understanding, has continued to organise language education programmes, cultural exhibitions, culinary events and entertainment festivals aimed at fostering closer bilateral ties.
Lee disclosed that organisers are considering expanding traditional Korean cultural activities in Nigeria through additional workshops and festivals, especially in Lagos.
She revealed that plans are underway for another Janggu drum festival while traditional cultural classes are also expected to be strengthened ahead of the possible introduction of K-Heritage competitions in the future.
However, she noted that competitive events currently remain largely focused on K-Pop activities due to their strong youth appeal.
She further announced that another K-Pop Festival would hold later this year in Lagos as organisers continue rotating major cultural events between Lagos and Abuja to ensure broader national participation.
Observers say the growing acceptance of Korean cultural festivals in Nigeria reflects the increasing role of cultural exchanges in international relations, where arts, music and shared experiences are becoming powerful tools for strengthening diplomatic and economic cooperation between nations.
Korean Cultural Centre Deepens Nigeria-South Korea Ties Through K-Heritage Festival in Abuja
News
Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries
Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries
By: Michael Mike
Nigeria and China have intensified efforts to strengthen bilateral cooperation in tourism, culture, and the creative economy, with both countries identifying the sectors as major drivers of economic growth, cultural diplomacy, and people-to-people relations.
This commitment was reaffirmed at the weekend during the 2026 China Tourism Day celebration hosted by the China Cultural Centre in Nigeria (CCIN) in Abuja, where government officials, diplomats, tourism stakeholders, artists, and cultural enthusiasts gathered to celebrate the growing partnership between the two nations.
Speaking at the event, Yang Jianxing said tourism remains one of the most effective instruments for fostering mutual understanding and strengthening ties among nations.
He explained that the theme of this year’s celebration, “Enjoying Quality Tourism, Exploring Beautiful Landscapes,” reflects the increasing global importance of tourism as a platform for intercultural dialogue and peaceful coexistence.
According to him, both China and Nigeria possess rich historical civilizations, diverse cultural identities, and globally recognised tourism assets capable of deepening cooperation between their peoples.
Yang cited iconic destinations including the Great Wall of China and Mount Tai, alongside Nigeria’s Osun-Osogbo Sacred Grove and Zuma Rock, describing them as enduring cultural symbols that continue to connect civilizations across continents.
He noted that several joint cultural initiatives organised over the years by both countries, including the Happy Chinese New Year programmes and China-Nigeria Cultural and Tourism Festivals, had expanded cultural exchanges through artistic performances, traditional exhibitions, and culinary experiences.
“These activities have not only strengthened friendship between our peoples but have also promoted the spirit of harmony, mutual respect, and cultural inclusiveness,” he said.
Yang further disclosed that China was prepared to deepen collaboration with Nigeria under the framework of the China-Africa Year of People-to-People Exchanges, with fresh opportunities expected in heritage preservation, tourism promotion, cultural innovation, and the creative industries.
He encouraged more Nigerians to explore educational and tourism opportunities in China while expressing optimism that more Chinese visitors would also discover Nigeria’s rich cultural heritage, artistic diversity, and tourism potential.
Also addressing participants, Abdulkarim Ibrahim described the event as another milestone in the long-standing diplomatic and cultural relationship between Nigeria and China, which he said has continued to flourish for more than five decades.
Nigeria, China Seek Expanded Cooperation in Tourism, Heritage, Creative Industries
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