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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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3 years ago

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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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Two policemen killed, three missing as Bandits ambush tactical team in Bauchi

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1 hour ago

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November 23, 2025

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Two policemen killed, three missing as Bandits ambush tactical team in Bauchi

By: Zagazola Makama

Two police personnel have been killed, three declared missing and two others injured after suspected Fulani herdsmen ambushed a police tactical team in Sabon Sara village, Darazo Local Government Area of Bauchi State.

Sources told Zagazola Makama that the attack occurred on Nov. 22 at about 12:48 p.m. when the operatives were on an intelligence-led patrol in the area, which has recorded persistent farmer-herder conflicts.

The tactical team, drawn from Mobile Police Squadron 10 (Mopol 10), the Anti-Kidnapping Unit, and the State Intelligence Department (SID), was ambushed by yet-to-be-identified herders who opened fire on them.

“DSP Ahmad Muhammad of SID and Inspector Amarhel Yunusa of Mopol 10 were confirmed dead at the scene,” the source said.

The sources added that ASP Mustapha Muhammad and Inspector Idris Ahmed, both of Mopol 10, as well as Corporal Isah Muazu of the Anti-Kidnapping Unit, were declared missing after the attack.

According to the sources, Inspector Isah Musa and Inspector Yusuf Gambo, both of the State Intelligence Department, sustained injuries and were evacuated to the General Hospital, Darazo for treatment.

The sources said that the Commissioner of Police has ordered the deployment of additional tactical units to reinforce the Darazo Division and intensify efforts to trace the missing personnel and apprehend the attackers.

Two policemen killed, three missing as Bandits ambush tactical team in Bauchi

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Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara

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2 hours ago

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November 23, 2025

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Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara

By: Zagazola Makama

The Zamfara Police Command has rescued 25 abducted persons, including 10 women and 15 children, following a coordinated response to a bandit attack on Kuraje village in Damba area of Gusau Local Government Area.

A source told Zagazola Makama on Sunday that the incident occurred on Nov. 21 at about 9:45 p.m., when armed bandits in large numbers invaded the community, shooting sporadically before abducting the victims.

According to the source, the Divisional Police Officer (DPO) of Damba Division, working alongside operatives from the Department of Operations Gusau and Community Protection Guards (CPG), immediately mobilised to the scene after receiving the distress report.

“The joint police teams engaged the bandits in a gun battle and successfully rescued all the abducted women and children,” the source said.

He added that the rescued victims were taken to Sabongari Damba for safety and were expected to be reunited with their families on Sunday morning.

The police assured that efforts were ongoing to track fleeing bandits and enhance security around vulnerable communities in the area.

Further developments are expected as operations continue.

Police storms bandits enclave after bandits attack, rescue 25 abducted women in Zamfara

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Meth, cocaine consignments in machine cylinders, auto parts intercepted at Lagos airport

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2 hours ago

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November 23, 2025

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Meth, cocaine consignments in machine cylinders, auto parts intercepted at Lagos airport

By: Michael Mike

Operatives of the National Drug Law Enforcement Agency (NDLEA) have dismantled no fewer than six syndicates leading to the seizure of tons of assorted illicit drugs and the arrest of nine kingpins in series of intelligence-led interdiction operations, the spokesman of the anti-narcotics agency, Femi Babafemi said on Sunday.

Babafemi, in a statement, said in one of such operations, NDLEA officers last Tuesday arrested two members of a drug trafficking organisation in Onitsha, Anambra state when they showed up to take delivery of 5.4 kilogrammes of methamphetamine; 10.7 kilogrammes of Loud, a strong strain of cannabis; 16 grammes of cocaine; 200 grammes of phenacetin; 200 grammes of methcathinone and 100 grammes of caffeine concealed in pressure machine cylinders imported from South Africa.

He disclosed that the first to show up at a logistics company in Onitsha for the collection of the consignments was 30-year-old electrical appliances dealer Ebulue Uzochukwu who was promptly arrested while shortly after, another member of the syndicate 51-year-old South Africa returnee Christopher Ndibuisi showed up and was equally arrested.

He said the consignments had arrived the import shed of the Murtala Muhammed International Airport (MMIA) Lagos with airway bill number 118-12882973 arriving from South Africa on a Tag-Angola flight on 13th November 2025 and was immediately seized based on credible intelligence, adding that a follow up sting operation was thereafter organized in Onitsha, Anambra state where the recipients: Uzochukwu and Ndibuisi were arrested.

In another operation at the Lagos airport, NDLEA operatives last Thursday intercepted a brake servo automobile part used to conceal 48 pellets and a block of cocaine

with a gross weight of 2.3 kilogrammes packed among other auto parts going to Gabon.

Babafemi said following the arrest of a freight agent Ameh Solomon who presented the consignment for export, a follow up at ASMPDA market, Trade Fair Complex, Ojo Lagos led to the arrest of an auto parts dealer Nwafor Tochukwu.

In Kogi state, NDLEA operatives last Monday intercepted a trailer conveying 4,700 kilogrammes of skunk, a strain of cannabis at Kabba. Three suspects: Solomon Dauda, Friday Garba and Daniel Danladi accompanying the consignment were arrested while a follow up operation in Jos, Plateau state last Friday led to the arrest of the alleged kingpin who owns the trailer and the illicit drug consignment, Marcus Mangu.

Babafemi said a couple: 55-year-old Onun Okoi Okpotum and his wife 52-year-old Itam Okoi Okpotum were last Wednesday arrested at their warehouse located at 13 Park road, Ugep Yakur local government area, Cross River state where 362 jumbo bags of skunk weighing 4,706 kilogrammes were recovered.

In Edo state, two women; Praise Nwogu, 19, and Ebong Oghosa, 25, who specialize in the production and online sale of brownies laced with illicit drugs were on Saturday arrested in Benin city. At the point of their arrest, Praise Nwogu, was said to have been found with 12 plates and a cup of drug-laced brownies laced while Ebong Oghosa, was nabbed with 76 grammes of skunk, 1.5 grammes of Colorado and drug-laced brownies.

A raid at Ososo village, Akoko Edo local government area last Tuesday led to the arrest of 35-year-old Shedrack Aminu, who was found with 59 kilogrammes skunk.

Operatives on patrol along Enugu/Onitsha road, Enugu State last Wednesday intercepted a suspect Chinoso Monday, 24, conveying 10.1 kilogrammes skunk; 105,600 pills of tramadol 250mg, 225mg and 100mg as well as 700 ampoules of pentazocine injection and 3000 rounds of live ammunition.

In Kebbi state, 13,155 bottles of codeine-based syrup were evacuated from a warehouse located at Dole-Kaina, Dandi local government area, while a 23-year-old suspect Umar Adamu was arrested with 12,548 pills of opioids concealed in paracetamol containers heading to a Boko Haram enclave in Mainok area of Borno state last Friday.

Two suspects: Anthony Mercy, 40, and Sunday Augustine, 39, were last Monday

arrested with 430.5 kilogrammes by NDLEA operatives on patrol along Abaji- Abuja expressway in the FCT, while Samson Dafe, 47, was arrested at Dikko junction, Kaduna road, Tafa local government area, Niger state last Tuesday conveying 85,100 pills of opioids and 5,456 bottles of codeine syrup in his Sharon vehicle marked ABJ 114 BV.

Babafemi said the premises of a suspect Sani Mohammed in Anguwan Makera Kuta, Shiroro local government area last Thursday raided with 437 blocks of compressed skunk weighing 471.8 kilogrammes recovered.

In Lagos, a suspect Usman Adegoke was arrested in connection with the seizure of

139 pouches of Canadian Loud weighing 71 kilogrammes at an apartment in Lekki while a lady Oluchi Celestine was last Tuesday nabbed in Lekki with 2.6 kilogrammes Colorado packaged in branded containers and some concealed in flight boarding cards.

The spokesman said acting on credible intelligence, NDLEA operatives supported by some military personnel last Monday raided the notorious Peti illicit drug enclave, Lagos Island where 385 kilogrammes of skunk, Loud and Colorado were recovered and two suspects arrested.

No less than 163,200 capsules of tramadol 225mg were also recovered in another operation at a motor park in Maza Maza area of Lagos.

Babafemi said with the same vigour, commands and formations of the agency across the country continued their War Against Drug Abuse (WADA) sensitization activities to schools, worship centres, work places and communities among others in the past week.

Justifying the current heavy crackdown on drug trafficking syndicates, the Chairman/CEO of NDLEA, Brig. Gen. Buba Marwa said the coming festive season is usually a period often exploited by criminal elements, hence the agency has decided to launch a relentless offensive on drug trafficking cartels across the nation.

He said. “The coming weeks present both an opportunity and a challenge. Drug cartels may attempt to increase their illegal activities, seeking to profit during the busy holiday period. We must not, and we will not, let down our guard.”

Meth, cocaine consignments in machine cylinders, auto parts intercepted at Lagos airport

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