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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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Inclusive Investment in Vulnerable Women Critical to Nigeria’s $1tn Economy Goal – Uzoka-Anite

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Inclusive Investment in Vulnerable Women Critical to Nigeria’s $1tn Economy Goal – Uzoka-Anite

By: Michael Mike

Nigeria’s ambition to build a one-trillion-dollar economy will remain incomplete without deliberate investment in vulnerable women and girls, Minister of State for Budget and Economic Planning, Doris Uzoka-Anite, has said.

The minister stated this on Tuesday in Abuja during a symposium organised to commemorate the 2026 edition of International Women’s Day and Women’s Month, where stakeholders called for stronger policies to address the challenges facing women with special needs across the country.

Speaking at the event themed “Rights, Justice, Action for Women & Girls With Special Needs in Nigeria: Exploring Strategies & Approaches for Acceleration and Impacts,” Uzoka-Anite stressed that targeted support for vulnerable women is not merely a social welfare responsibility but a strategic economic investment.

According to her, women living with HIV, persons with disabilities, elderly women and internally displaced persons remain among the most excluded groups in development planning despite their potential to contribute significantly to economic growth.

She explained that the administration of President Bola Ahmed Tinubu is shifting Nigeria’s public finance framework from traditional expenditure-based budgeting to investment-driven planning aimed at producing measurable economic outcomes.

The minister said the proposed National Development Plan for 2026–2030 would prioritise inclusive growth as Nigeria works toward building a $1 trillion economy.

Uzoka-Anite noted that when vulnerable women receive economic opportunities and protection from violence, the impact extends beyond individuals to families and communities.

“When an internally displaced woman receives livelihood support and security, she does not remain dependent. She becomes a trader, an entrepreneur and a pillar for rebuilding her family and community,” she said.

She added that inclusive policies generate stronger economic returns and represent one of the most efficient uses of public resources.

According to her, the Ministry of Budget and Economic Planning is strengthening gender-responsive and disability-inclusive planning within Nigeria’s national development framework, while also introducing systems to track whether government spending reaches the most vulnerable populations.

Earlier, the Representative to UN Women and ECOWAS, Beatrice Eyong, said the event was designed to spotlight women whose struggles are often overlooked in policy formulation.

She noted that women facing multiple forms of vulnerability—such as those living with HIV, women with disabilities and internally displaced women—frequently experience overlapping discrimination driven by poverty, stigma and social exclusion.

Also speaking, the Country Director of UNAIDS in Nigeria, Boonto Krittayawa, warned that progress toward gender equality remains slow globally and requires stronger political commitment.

She pointed to persistent gaps in political representation, economic participation and access to opportunities for women, stressing the need for targeted investments and legal reforms to accelerate progress.

Nigeria’s Minister of Women Affairs, Imaan Sulaiman-Ibrahim, represented by her Special Assistant, Princess Joan Jumai, said the government is strengthening programmes designed to address the needs of women facing multiple layers of discrimination.

She highlighted initiatives such as the Renewed Hope Social Impact Intervention 774, which aims to expand social protection and economic empowerment for vulnerable women across Nigeria’s 774 local government areas.

In her remarks, Acting Deputy Representative of UN Women in Nigeria, Patience Ekeoba, said the symposium provided a platform for women with special needs to share their experiences and influence policies affecting them.

She added that the meeting would conclude with a communiqué outlining key challenges and policy recommendations aimed at strengthening protection, inclusion and economic participation for vulnerable women across the country.

Inclusive Investment in Vulnerable Women Critical to Nigeria’s $1tn Economy Goal – Uzoka-Anite

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Nigeria Secures Strategic Role in Global Digital Economy at World Data Organization Launch

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Nigeria Secures Strategic Role in Global Digital Economy at World Data Organization Launch

By: Michael Mike

In a landmark move aimed at cementing its influence in the global digital economy, Nigeria participated in the launch of the World Data Organization (WDO) in Beijing, China.

At the event, which held on Monday, the country was represented by Director-General and Global Liaison of the Nigeria-China Strategic Partnership (NCSP), Joseph Tegbe alongside Head of International Relations at NCSP, Judy Melifonwu.

The WDO, headquartered in Beijing, is the first international body dedicated to advancing data governance, enabling secure cross-border data flows, and promoting the inclusive growth of the digital economy. Its launch brings together global powers seeking to address the digital divide, enhance cybersecurity, and establish standards that ensure equitable benefits from data-driven development.

Speaking on behalf of Chinese President Xi Jinping, Ding Xuexiang outlined the organisation’s three strategic pillars: facilitating the free and secure flow of data across borders, promoting inclusive digital development, and establishing coordinated global frameworks to protect data from cyber threats.

For Nigeria, participation at the WDO’s founding stage represents a deliberate, forward-looking strategy under the Renewed Hope Agenda. Analysts note that it positions the country to influence global digital governance standards, accelerate access to emerging technologies, and participate in international research initiatives. Such engagement is expected to strengthen Nigeria’s digital infrastructure, enhance the competitiveness of startups and financial institutions, attract foreign direct investment, and generate high-value employment opportunities for the nation’s growing youth population.

Furthermore, the WDO platform allows Nigeria to deepen collaboration in cybersecurity, enabling the country to contribute to international frameworks that safeguard national data, combat cybercrime, and ensure digital sovereignty.

Observers said Nigeria’s involvement reflects a strategic evolution in the Nigeria–China partnership, which has moved beyond traditional infrastructure projects toward high-impact, technology-driven cooperation. By joining the WDO, Nigeria positions itself to harness the opportunities of the Fourth Industrial Revolution, ensuring that technological innovation drives sustainable growth across critical sectors such as agriculture, healthcare, governance, and finance.

“The participation of Nigeria at the WDO launch is not only symbolic; it is a tangible assertion of the country’s intent to be at the forefront of global digital governance,” said a senior NCSP official. “It ensures that Nigeria has a voice in shaping rules that govern the digital economy while unlocking opportunities that directly benefit its citizens and businesses.”

The WDO’s establishment is being hailed as a critical step in bridging the global digital divide, offering developing nations like Nigeria an unprecedented opportunity to integrate into global digital networks while safeguarding national interests.

With its seat at the WDO table, Nigeria is now strategically positioned to influence global data policies, strengthen cybersecurity frameworks, and drive innovation-led economic growth in the emerging digital era.

Nigeria Secures Strategic Role in Global Digital Economy at World Data Organization Launch

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FG, Benue, UNHCR Partner to Deliver Life-Saving Support to 100,000 Displaced Persons

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FG, Benue, UNHCR Partner to Deliver Life-Saving Support to 100,000 Displaced Persons

By: Michael Mike

The Federal Government, the Benue State Government and the United Nations High Commissioner for Refugees (UNHCR) have agreed on a coordinated intervention to deliver urgent life-saving and protection support to communities affected by violence and displacement in Benue State.

The agreement was formalised following a meeting witnessed by the Minister of Humanitarian Affairs and Poverty Reduction, Bernard Doro, during which letters were exchanged between the Governor of Benue State, Hyacinth Iormem Alia, and UNHCR’s Country Representative in Nigeria, Arjun Jain.

The initiative, supported through the Nigerian Humanitarian Fund, is expected to directly benefit about 100,000 people in Guma and Makurdi Local Government Areas, with many more indirectly supported through improved protection systems and preventive security measures.

Speaking on the partnership, the Minister said the intervention reflects the Federal Government’s commitment to supporting Nigerians affected by conflict and displacement.

According to him, the collaboration will ensure that vulnerable families receive urgent assistance while advancing President Bola Ahmed Tinubu’s Renewed Hope Agenda aimed at restoring safety, dignity and stability to affected communities.

He added that the intervention will focus on three priority areas, including the provision of protection-based life-saving assistance for displaced populations, support for relocating families from camps to safer settlements, and the installation of solar-powered lighting systems to strengthen security in vulnerable communities.

The programme will also expand and digitise protection monitoring systems to enable real-time reporting, early identification of threats and integration into state and federal early-warning mechanisms.

Alia described the partnership as a critical step toward addressing the humanitarian crisis caused by persistent displacement in the state.

He noted that Benue has borne a heavy burden of forced displacement for years and stressed that the collaboration would help scale up immediate humanitarian relief while strengthening long-term systems to protect communities.

The governor reaffirmed his administration’s commitment to ensuring displaced families regain access to safety, recovery and opportunities for rebuilding their lives.

UNHCR Country Representative, Arjun Jain, also underscored the importance of strong government leadership and coordinated action in addressing humanitarian challenges.

He said the collaboration would allow partners to rapidly expand protection services and deliver assistance to families facing severe risks while laying the foundation for sustainable solutions.

Implementation of the joint intervention is expected to begin in April 2026.

FG, Benue, UNHCR Partner to Deliver Life-Saving Support to 100,000 Displaced Persons

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