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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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Zulum: Borno Will Deliver Tinubu, APC Candidates in 2027 Elections

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Zulum: Borno Will Deliver Tinubu, APC Candidates in 2027 Elections

By: Our Reporter

Borno State Governor, Professor Babagana Umara Zulum, has reaffirmed the commitment of the people of the state to support President Bola Ahmed Tinubu and all candidates of the All Progressives Congress (APC) in the forthcoming 2027 general elections.

Governor Zulum made the commitment on Monday during the All Progressives Congress, APC, Senatorial District Primary Election for Borno Central, in Maiduguri.

The governor also commended President Tinubu for choosing Senator Kashim Shettima as Vice President of the Federal Republic of Nigeria, describing the decision as a great honor to the people of the state.

“Let me begin by extending a profound appreciation to the President of the Federal Republic of Nigeria, President Bola Ahmed Tinubu, GCFR, for all the support that he has been rendering to our great party and indeed the government and people of the state and for him to choose one of our own, Senator Kashim Shettima, as the Vice President, we remain eternally grateful to him,” Zulum stated.

He assured the President of overwhelming support from Borno State ahead of the next presidential election.

“Insha Allah, the people of Borno State will vote for President Bola Ahmed Tinubu for a second term,” the governor declared.

Zulum also endorsed Senator Kaka Shehu Lawan for another term as Senator representing Borno Central Senatorial District in 2027.

“Today, it has been affirmed that Senator Kaka Shehu Lawan will return as Senator for Borno Central come 2027, Insha Allah,” he said.

The governor called on party supporters and the electorate to remain united and to support APC candidates at all levels.

Chairman of Borno State Senatorial District Primary Elections Committee, Jones Ode Erue, hailed the rancor-free process of all the primary elections conducted in the state.

He commended Governor Babagana Umara Zulum for providing a level playing field and ensuring the exercise was conducted smoothly.

According to him, since the candidate for Borno Central senatorial district, Senator Kaka Shehu Lawan, is unopposed, his candidacy was affirmed by voice vote.

“We have a single candidate, so what we will do is affirmation in compliance with the electoral Act and the APC Constitution,” Esue said.

“By the powers vested in me as Chairman of Borno State Senatorial District Primary Election Committee, I,
Prophet Jones Ode Erue, hereby declare, affirm, and present Senator Kaka Shehu Lawan, having satisfied the constitution of the APC, as the duly returned candidate for Borno Central District,” he declared.

Senator representing Borno Central and APC Senatorial candidate, Senator Kaka Shehu Lawan, SAN, accepted the party’s candidacy and promised his constituents that he would serve diligently.

He thanked Governor Babagana Umara Zulum for the tremendous support and for allowing him to be the party’s sole candidate.

“I hereby accept the candidacy bestowed on me by the party and promised to serve my constituents without affection or ill will,” Kaka Shehu stated.

Officials from INEC and the Security Agencies monitored the exercise.

The event was attended by the APC Deputy National Chairman North, Hon. Ali Bukar Dalori; serving and newly elected candidates for the House of Representatives; the APC state chairman; APC National and State officials; the Secretary to the State Government; the Acting Chief of Staff; Commissioners; and other senior government officials.

Zulum: Borno Will Deliver Tinubu, APC Candidates in 2027 Elections

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Cuba Accuses US of Building ‘False Case’ for Possible Invasion Amid Rising Tensions

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Cuba Accuses US of Building ‘False Case’ for Possible Invasion Amid Rising Tensions

By: Michael Mike

The Cuban government has accused the United States of fabricating allegations against Havana as a pretext for possible military aggression, following reports that Washington is increasingly concerned about Cuba’s alleged drone capabilities and growing ties with Russia and Iran.

Cuban Foreign Minister, Bruno Rodríguez Parrilla, alleged that the United States was “manufacturing a fraudulent case” against Cuba in an attempt to justify tougher sanctions and heightened pressure on the Caribbean nation.

The accusation followed recent reports in American media suggesting that U.S. intelligence agencies were assessing what they described as an emerging security threat linked to Cuba’s acquisition of military drones.

According to reports, U.S. officials fear that Havana may be strengthening military cooperation with countries considered strategic rivals of Washington, including Russia and Iran.

Cuba, however, dismissed the allegations as politically motivated and part of a long-standing campaign aimed at isolating the communist-led island nation.

The development marks a fresh escalation in already strained relations between United States and Cuba, amid worsening economic hardship in Cuba and renewed geopolitical rivalry involving major global powers.

Analysts say tensions between both countries have intensified in recent months following stricter U.S. sanctions, worsening fuel shortages in Cuba and increased diplomatic hostilities.

The Cuban government has repeatedly accused Washington of fueling economic suffering on the island through decades-old embargoes and restrictive measures, while the U.S. maintains that its policies are targeted at promoting democracy and human rights.

The latest dispute emerged after reports claimed that Cuba may have expanded its drone programme with external support, raising security concerns in Washington over possible threats near strategic U.S. facilities, including the Guantanamo Bay naval base.

Havana strongly denied any hostile intentions, insisting that the allegations were exaggerated to create fear and justify additional punitive actions against the country.

Observers note that the war of words comes at a delicate moment in international relations, with growing global polarization between Western powers and countries aligned with Russia and China.

Cuba Accuses US of Building ‘False Case’ for Possible Invasion Amid Rising Tensions

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EU, UNODC, ECOWAS Back Nigeria’s New Drug Control Plan, Warn of Rising Threats

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EU, UNODC, ECOWAS Back Nigeria’s New Drug Control Plan, Warn of Rising Threats

By: Michael Mike

International partners including the European Union (EU), the United Nations Office on Drugs and Crime (UNODC), and the Economic Community of West African States (ECOWAS) have pledged continued support for Nigeria’s efforts to combat substance abuse and illicit drug trafficking under the proposed 2026–2030 National Drug Control Master Plan (NDCMP).

The commitment was made on Monday during the opening of a two-day NDCMP Consultative Forum organised by the National Drug Law Enforcement Agency in Abuja, where stakeholders commended the agency’s achievements while warning against complacency amid evolving drug threats across Africa.

Speaking at the forum, Deputy Head of the EU Delegation to Nigeria and ECOWAS, Mr. Zissimos Vergos, said the European Union remained committed to strengthening collaboration with Nigeria in addressing the transnational nature of drug trafficking and substance abuse.

According to him, Nigeria’s stability and Europe’s security are interconnected, stressing that the impact of drug abuse and trafficking extends beyond national borders.

“Our presence here today is that of partners who have walked this uphill and rough road ourselves, and we continue doing that,” he said.

“What affects the youth of Maiduguri or the streets of Ibadan does not stay within Nigerian borders. Drug trafficking is a transnational challenge, and the master plan laid before this forum is Nigeria’s contribution to a transnational response.”

Vergos noted that the EU had also updated its own drug strategy and action plan with stronger emphasis on international cooperation, adding that the bloc was ready to work with Nigeria in translating the new master plan into practical outcomes.

He also praised the leadership and personnel of the NDLEA for their dedication and commitment to drug control efforts.

Also addressing participants, UNODC Country Representative, Mr. Cheikh Ousmane Touré, warned that the global drug landscape was rapidly changing, driven by the rise of synthetic drugs, increasingly sophisticated trafficking networks, and the growing use of technology to facilitate illicit markets.

He said Nigeria was at the centre of these emerging threats, making it imperative for the country to adopt a comprehensive, data-driven, and forward-looking strategy.

Touré reaffirmed UNODC’s commitment to supporting Nigeria through technical assistance, institutional strengthening, evidence-based prevention and treatment programmes, and enhanced international cooperation.

“As we look ahead, we see this master plan as an opportunity to deepen impact, strengthen data systems, reinforce institutions across all levels of governance, and ensure that the response is people-centred, inclusive, and sustainable,” he said.

Chairman/Chief Executive Officer of the NDLEA, Mohamed Buba Marwa, said although Nigeria had recorded significant progress over the past five years, the country must confront a more complex and evolving drug threat.

Citing projections by the UNODC, Marwa said drug use in Africa could rise by 40 per cent by 2030, while West Africa continued to serve as a major corridor for cocaine trafficking between Latin America and Europe.

He further identified the growing abuse of synthetic substances, prescription drugs, new psychoactive substances, and the increasing digitalisation of the illicit drug trade through encrypted platforms and dark web operations as major concerns.

“As Africa’s most populous nation and largest economy, Nigeria cannot afford to be a passive observer. The risks to our youth, our workforce, and our national security are too high,” Marwa stated.

He explained that the proposed 2026–2030 master plan would introduce new strategic pillars, including alternative development and sustainable livelihoods to address the socio-economic drivers of the drug trade, as well as the disruption of illicit drug economies through financial intelligence.

Marwa urged stakeholders at the forum to think boldly and propose innovative solutions that would shape Nigeria’s drug control strategy over the next five years.

Also speaking, ECOWAS Commissioner for Human Development and Social Affairs, Dr. Daniel Amankwaah, described Nigeria’s master plan as critical to the regional bloc, noting that several ECOWAS member states often draw policy direction from Nigeria’s framework.

He assured the NDLEA of ECOWAS support, not only in finalising the plan but also during implementation.

Minister of State for Education, Suwaiba Said Ahmad, commended the NDLEA for its sustained advocacy, enforcement, rehabilitation, and stakeholder engagement efforts.

She stressed the need for a holistic and multi-sectoral response involving education, healthcare, law enforcement, community participation, and social support systems to effectively address the root causes and consequences of drug abuse.

Other dignitaries at the event included representatives of the Senate Committee on Drugs and Narcotics and the National Orientation Agency.

EU, UNODC, ECOWAS Back Nigeria’s New Drug Control Plan, Warn of Rising Threats

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