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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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FG, Ohanaeze Outlaw ‘Eze Ndigbo’ Titles Abroad Amid Rising Diplomatic Tensions

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FG, Ohanaeze Outlaw ‘Eze Ndigbo’ Titles Abroad Amid Rising Diplomatic Tensions

By: Michael Mike

The Federal Government has moved to curb the controversial installation of “Eze Ndigbo” in foreign countries, backing a sweeping decision by Ohanaeze Ndigbo Worldwide and South East traditional rulers to abolish the practice outside Igboland, following a series of international incidents that have strained Nigeria’s diplomatic relations.

Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, delivered the government’s position at the high-level Imeobi meeting of Ohanaeze in Enugu on Thursday, describing the proliferation of Igbo “kings” in the diaspora as a growing embarrassment to Nigeria and a trigger for avoidable conflicts abroad.

She warned that while diaspora communities are free to promote their culture, attempts to replicate traditional rulership structures in foreign lands have repeatedly sparked tensions with host authorities and local populations.

The latest flashpoint occurred in East London, where the coronation of Solomon Ogbonna Eziko ignited violent protests. The unrest led to the destruction of property, attacks on foreign-owned businesses, and clashes with security forces, after locals interpreted the installation as a challenge to South Africa’s traditional authority system.

South African institutions, including the Eastern Cape House of Traditional and Khoi-San Leaders and the Department of Cooperative Governance and Traditional Affairs, declared the coronation illegal, underscoring the diplomatic sensitivity of such actions.

Nigeria’s foreign missions quickly distanced themselves from the development, with officials clarifying that the event was merely cultural and not a recognized monarchy. The Nigerian Embassy in Pretoria subsequently issued an apology and urged citizens to maintain a low profile.

Odumegwu-Ojukwu revealed that similar tensions had surfaced in Accra in 2025, where protests against Nigerians escalated over the same issue. She led a diplomatic delegation to calm the situation, engaging directly with John Mahama and other key stakeholders.

According to her, the intervention of the Ghanaian president was pivotal in diffusing tensions, as he reaffirmed his country’s commitment to ECOWAS protocols on free movement and rejected calls for xenophobic actions against Nigerians.

The minister stressed that such crises place Nigerian lives, businesses, and diplomatic standing at risk, insisting that urgent measures were necessary to prevent further escalation.

In response, Ohanaeze Ndigbo Worldwide has formally proscribed the conferment and use of “Eze Ndigbo” titles outside Igboland. President-General of the organization, Azuta Mbata, declared that any individual assuming such a title abroad does so without the backing of the Igbo people.

He disclosed that the group would notify state governments and Nigerian missions globally of the decision and is working with traditional rulers to establish sanctions for violators, including community-level enforcement through hometowns and town unions.

The Federal Government has pledged to reinforce the directive through its diplomatic channels, signaling a coordinated effort to prevent further international disputes linked to cultural misrepresentation.

The development marks a decisive shift by both the government and Igbo leadership to separate cultural expression from traditional authority in diaspora settings, amid growing concern over the global implications of local customs.

FG, Ohanaeze Outlaw ‘Eze Ndigbo’ Titles Abroad Amid Rising Diplomatic Tensions

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Africa, France Move to Reset Economic Ties at Nairobi Summit

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Africa, France Move to Reset Economic Ties at Nairobi Summit

By: Michael Mike

African leaders and their French counterparts are set for a critical engagement next month as Kenya and France prepare to host the Africa Forward Summit: Africa–France Partnerships for Innovation and Growth in Nairobi, amid growing calls for a new model of cooperation that delivers real economic impact for the continent.

The summit, scheduled for May 11–12, 2026, will convene top political leaders including Emmanuel Macron and William Ruto, alongside African Heads of State, investors, development partners, civil society groups, and youth representatives.

A Business Forum on May 11 is expected to drive private sector engagement and set the tone for the main summit, where discussions will centre on investment, innovation, and long-term economic collaboration.

Organisers said the summit is designed to move beyond diplomatic symbolism, focusing instead on actionable partnerships in key sectors such as healthcare, agriculture, digital technology, energy, and infrastructure—areas considered vital to Africa’s transformation.

For countries like Nigeria, the outcomes could be significant, offering pathways to attract investment, create jobs, and strengthen economic resilience at a time of global uncertainty.

The summit comes against the backdrop of evolving relations between Africa and France, marked by increasing demands from African nations for more equitable and transparent partnerships.

Historically, France has maintained strong political, economic, and military ties with several African countries, particularly in West and Central Africa. However, in recent years, these relationships have come under scrutiny, with critics calling for an end to perceived imbalances and a shift toward mutual respect and shared benefits.

At the same time, Africa’s global relevance has risen, driven by its growing population, expanding markets, and strategic importance in global supply chains. This has intensified competition among global powers seeking influence on the continent, prompting France to recalibrate its engagement strategy.

The Africa Forward Summit is seen as part of that reset—an attempt to reposition France as a partner in innovation and sustainable development rather than a traditional power broker.

The timing is also significant as it feeds into preparations for the upcoming G7 Summit, where Africa’s economic future, climate challenges, and development financing are expected to dominate discussions.

Analysts said the Nairobi meeting could serve as a testing ground for how Africa and its international partners engage moving forward—shifting from aid-driven relationships to investment-led cooperation.

With unemployment rising and infrastructure gaps widening across many African economies, expectations are high that the summit will produce concrete commitments rather than broad declarations.

Diplomatic missions in Abuja have indicated that further details will be unveiled at a press briefing, but stakeholders are already positioning the summit as a defining moment in reshaping Africa–Europe relations.

If successful, the Africa Forward Summit could mark a turning point—signaling a transition from historic ties to future-focused partnerships built on innovation, shared prosperity, and measurable outcomes.

Africa, France Move to Reset Economic Ties at Nairobi Summit

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Experts Sound Alarm Over Unregulated AI in Nigeria’s Healthcare System

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Experts Sound Alarm Over Unregulated AI in Nigeria’s Healthcare System

By: Michael Mike

Growing adoption of artificial intelligence in Nigeria’s healthcare sector is outpacing regulatory safeguards, raising concerns among experts who warned that without urgent oversight, the technology could deepen inequality and expose patients to new risks.

This warning took centre stage at a policy dialogue titled “AI in Healthcare: Risk or Asset?”, held Thursday at the French Institute in Abuja, where stakeholders from government, medicine, and development circles examined the expanding role of AI in health service delivery.

Speakers at the forum acknowledged that AI is already transforming diagnostics, laboratory systems, and patient management. However, they cautioned that Nigeria’s regulatory environment has yet to catch up with the speed of innovation.

Director of the French Institute, Thierry Vapentin, set the tone for the discussions, describing the platform as a space to confront emerging global issues through open debate. He stressed the importance of interrogating both the opportunities and ethical dilemmas posed by AI in critical sectors like healthcare.

Delivering a policy perspective, Dr. Anthony Ayeke of the European Union Delegation noted that while AI could significantly improve access and efficiency in healthcare delivery across Africa, blind reliance on automated systems could undermine professional judgment and patient safety. He emphasized that human oversight must remain central in all AI-driven processes.

In his intervention, the CEO of Premier Health Systems Consults, Dr. Niyi Osamiluyi argued that Nigeria urgently needs a clearly defined ethical and regulatory framework to guide AI deployment. He outlined key principles including transparency, inclusiveness, accountability, data protection, and auditability, warning that failure to assign responsibility for AI outcomes could create dangerous accountability gaps.

The issue of data integrity also featured prominently. Joshua Kojalo highlighted ongoing government-backed digital health initiatives, particularly mobile applications designed to expand access to health insurance. However, he warned that overdependence on foreign datasets could embed bias into local systems, potentially excluding vulnerable populations. He called for deliberate investment in locally generated data to ensure fairness and accuracy.

From an operational standpoint, Dr. Temitope Agbana, Co-founder of AIDX Medical, shared field experiences demonstrating AI’s impact on laboratory efficiency, noting that automated systems have significantly increased processing capacity. Despite these gains, he maintained that technology must remain a support tool rather than a substitute for human expertise, stressing that no AI system is entirely error-proof.

Equity concerns dominated the latter part of the discussion, with Dr. Chimezie Anyakora, CEO of Bloom Public Health, warning that weak regulation could leave already disadvantaged communities exposed to the harshest consequences of technological failure. He cautioned that without deliberate safeguards, AI could reinforce existing healthcare disparities rather than bridge them.

Participants agreed that Nigeria risks creating a two-tier healthcare system where advanced AI-driven services are accessible only to the wealthy, while rural and low-income populations are left behind.

The forum concluded with a strong consensus that Nigeria must act swiftly to establish robust regulatory frameworks, invest in capacity building, and ensure inclusive access. Experts stressed that while AI holds immense potential to transform healthcare delivery, its benefits will only be realized if innovation is matched with responsibility.

Without decisive action, they warned, the same technology that promises progress could ultimately widen the gap it seeks to close.

Experts Sound Alarm Over Unregulated AI in Nigeria’s Healthcare System

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