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POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes

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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

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Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

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Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

By: Michael Mike

The Embassy of the Russian Federation in Nigeria has hosted a special classical music concert in Abuja, describing the event as a significant step toward strengthening cultural dialogue and people-to-people relations between Nigeria and Russia.

The event, which drew diplomats, cultural enthusiasts, academics and members of the public, featured performances by three talented young Russian musicians from the Tchaikovsky Moscow State Conservatory, one of Russia’s most prestigious music institutions.

Speaking at the event, the Russian Ambassador to Nigeria, Andrey Podelyshev noted that the concert was organized with the support of the Russkiy Mir Foundation and the Department for Multilateral Humanitarian Cooperation and Cultural Relations of the Ministry of Foreign Affairs of the Russian Federation.

According to him, the concert represents the first cultural event of its kind organized by the Russian Embassy in Nigeria in several years and marks an important effort to revive cultural engagement between the two nations.

“This evening is not simply a concert,” the envoy said. “It is an important step toward strengthening cultural dialogue between the Federal Republic of Nigeria and the Russian Federation. We hope it will mark the beginning of a new tradition that brings our peoples closer through the universal language of music.”

He expressed appreciation to several Nigerian institutions for supporting the initiative, including the National Universities Commission for providing the venue, as well as the Federal Ministry of Art, Culture, Tourism and Creative Economy and the Nigeria Immigration Service for their cooperation.

Special recognition was also given to Abba Music School for its role in coordinating the event and facilitating the participation of the visiting musicians.

The envoy said Russia also hopes to deepen cultural exchange by creating opportunities for Nigerian artists and creative groups to perform in Russia in the future, allowing Russian audiences to experience Nigeria’s rich cultural heritage.

“We look forward to the day when Nigerian creative groups will visit Russia, enabling our audiences to appreciate the depth, diversity and richness of Nigeria’s culture,” he said.

Guests at the concert were treated to a carefully curated repertoire of classical masterpieces drawn from Russian and global musical traditions, showcasing the technical brilliance and artistry of the visiting performers.

The evening also provided an opportunity for cultural interaction among diplomats, academics, students and music lovers, reinforcing the role of arts and culture in fostering international understanding.

The Russian envoy concluded his remarks by congratulating Muslims on the occasion of Eid al-Fitr and thanking guests for attending the event.

Observers noted that the concert reflects a renewed effort by Russia to use cultural diplomacy to deepen engagement with Nigeria, particularly in the areas of education, arts and cultural exchange.

Russia Hosts Classical Music Concert in Abuja to Revive Cultural Ties with Nigeria

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Fire destroys 10 shops in Gusau shopping complex

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Fire destroys 10 shops in Gusau shopping complex

By: Zagazola Makama

A fire outbreak has destroyed ten shops at a shopping complex in Garejin Mai Lena area of Gusau Local Government Area, Zamfara State.

Sources said the incident occurred at about 2:00 a.m. on Thursday, causing extensive property losses valued at millions of naira.

The blaze was brought under control through a joint effort by security operatives and local residents who assisted in putting out the fire.

Authorities confirmed that no lives were lost and no injuries were reported during the incident.

The cause of the fire is currently under investigation as efforts continue to assess the full extent of the damage.

Fire destroys 10 shops in Gusau shopping complex

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Boko Haram: The worse days are over….Zulum

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Boko Haram: The worse days are over….Zulum

By: Bodunrin Kayode

Borno state Governor Prof Babagana Zulum has assured citizens of the state that the worse days of insurgency are over.

In a state wide broadcast as soon as he arrived from his visit to Saudi Arabia, the Governor extinguished any iota of fear in the minds of the residents adding that they should not loose hope now that a ray of hope is waiting for them at the end of the tunnel.

He noted that what residents are witnessing now is the results of the rattling of the criminals in the Timbuktu triangle which is why they are unleashing such wickedness on the citizenry.

“However, I want to reassure you that the worst days are over. We have been constantly assessing the situation, and a robust, coordinated response is already in motion.

” These cowardly elements who seek to disturb our peace will obtain no sanctuary in Borno State. We will deal decisively with their recent resurgence.

“Fellow citizens, this fight is not the responsibility of the military alone; it is a collective effort. I must emphasise the importance of cordial, close collaboration with our military.

“They are here to protect us, and they need our eyes and our ears. I extend my deepest sympathies to the families of our gallant soldiers, security personnel and our volunteer forces who have sacrificed their lives in the line of duty. My heart also goes out to every civilian whose life has been disrupted by this situation. Your resilience is the bedrock of our state, and the power of prayer in unison is a weapon no enemy can withstand.

“Furthermore, let me issue a stern warning to any individual or group that aids or collaborates with these criminals. To those who feed them with information, shelter them and their sympathisers, and provide logistical support, your time is up. You are not patriots; you are enemies of the state. You will be hunted down and made to face the full wrath of the law. Your actions betray our collective peace, and we will no longer tolerate them.”
Said Zulum.

Below is the full text of the governor’s broadcast to the state:

STATEWIDE BROADCAST BY THE EXECUTIVE GOVERNOR OF BORNO STATE, PROFESSOR BABAGANA UMARA ZULUM, ON THURSDAY, 19TH MARCH 2026

My dear good people of Borno State,

I address you today at a moment that requires both our solemn reflection and our resolute unity.

Fellow citizens, the recent resurgence of insecurity in parts of our dear state over the past few weeks is deeply concerning. As the Chief Security Officer, let me assure you that the overall security environment, while tested, remains under control, and we are doing everything possible to protect lives and property.

Over the past seven years, we have worked tirelessly to restore peace and prosperity to the great land and rebuild our state. Within the period, we have responded with prompt, positive actions on every occasion. We have not allowed the dark dreams of the wayward ones to take root, and instead, we have fostered hope and resilience among the communities affected by the conflict. Through a combination of consultations and collective planning, with the strong support of our security agencies and the civilian JTF, the Almighty Allah (SWT) has helped us achieve some measure of success and peace.

We do not believe that the decrease in past attacks signals the end of the insurgency. No, it is not. In fact, at the leadership level, we are very conscious of the fact that much more needs to be done to permanently address the root of this madness and the menace of illogical attacks among our peace-loving people.

The recent spike in activity by these criminal elements is a direct consequence of the sustained and aggressive military operations being conducted across the theatre. These operations have dislodged the criminals, forcing them to flee and seek respite by infiltrating our communities.

However, I want to reassure you that the worst days are over. We have been constantly assessing the situation, and a robust, coordinated response is already in motion. These cowardly elements who seek to disturb our peace will obtain no sanctuary in Borno State. We will deal decisively with their recent resurgence.

Fellow citizens, this fight is not the responsibility of the military alone; it is a collective effort. I must emphasise the importance of cordial, close collaboration with our military. They are here to protect us, and they need our eyes and our ears. I extend my deepest sympathies to the families of our gallant soldiers, security personnel and our volunteer forces who have sacrificed their lives in the line of duty. My heart also goes out to every civilian whose life has been disrupted by this situation. Your resilience is the bedrock of our state, and the power of prayer in unison is a weapon no enemy can withstand.

Furthermore, let me issue a stern warning to any individual or group that aids or collaborates with these criminals. To those who feed them with information, shelter them and their sympathisers, and provide logistical support, your time is up. You are not patriots; you are enemies of the state. You will be hunted down and made to face the full wrath of the law. Your actions betray our collective peace, and we will no longer tolerate them.

Let me at this juncture commend the President and Commander-in-Chief, Bola Ahmed Tinubu GCFR, for releasing the necessary funding to the Multi-National Joint Task Force (MNJT) and several other military operations across different theatres in Nigeria. This support is vital to the sustainability of the ongoing military operations.

I also wish to extend my appreciation to the Vice President, Senator Kashim Shettima, who represented the President for the sympathy visit over the recent unfortunate incident.

I also want to extend our profound gratitude to the gallant men and women of the Nigerian Armed Forces, the Nigerian Police Force, the Department of State Services (DSS), the Nigerian Security and Civil Defence Corps (NSCDC), other law enforcement agencies, our dedicated CJTF, hunters, and vigilantees. Your professionalism, bravery, and sacrifices are the only reasons we have a state to return to. The nation owes you a tremendous debt that can never be fully repaid.

To our revered traditional rulers, I appreciate your steadfastness and your role as the custodians of our culture and conscience. I am equally grateful to our religious leaders and the entire people of Borno for their relentless prayers. I want to urge my colleagues in the political class to unite and support our efforts to restore peace. Our people look up to us for leadership, not division.

My dear people, as the political season intensifies, tensions may rise. But we must align our political interests with the stark realities of our security situation, including ongoing threats from insurgent groups and the need for community stability. Let us not allow politics to undermine the hard-earned peace we have built. I therefore call on all aspirants and their supporters to prioritise the greater interests of Borno State above their personal ambitions.

Since assuming office in 2019, I have been fair, just, and inclusive in my dealings with the entire political class. My loyalty to His Excellency, the Vice President, need not be overemphasized.

Furthermore, as a leader, I have embraced all and sundry. I have never betrayed the trust of members of the national and state assemblies, as well as political office holders of Borno extraction, at the state or national level.

Therefore, I want to call on all political actors to be wary of elements seeking to exploit the current situation to create unnecessary political instability.

As we look to the future and choose a new leader for our state, I urge all citizens to pray fervently for a worthy successor. Let me remind us that power belongs to Allah and He grants it to whom He wills.

As we approach the end of Ramadan, I call on all residents, both Christians and Muslims, to use this last hour of fasting and Sallah celebration to intensify prayers for peace, unity, and stability in our state and the country at large.

Consequently, let me use this opportunity to encourage citizens of Borno to be more vigilant. As we gather to break our fast toward the end of 2026 Ramadan, let us pay attention to our environment. Let us identify strangers, report suspicious movements to security agencies, and take the necessary precautions.

Once again, and with all the emphasis I can command, I urge you all to remain calm and observe your Eid prayers within your communities.

In conclusion, I seek your understanding and forgiveness for our wrongdoings and reassure you that Borno shall not fall into the hands of Boko Haram insurgents, insha Allah.

May God bless the Federal Republic of Nigeria and the people of Borno State.

Thank you and God Bless You

Boko Haram: The worse days are over….Zulum

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