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POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes
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
News
Nigeria Launches Unified Framework to Tackle Humanitarian Crises and Poverty
Nigeria Launches Unified Framework to Tackle Humanitarian Crises and Poverty
By: Michael Mike
The Federal Government has launched a new national framework aimed at ending fragmented humanitarian and poverty interventions through the One Humanitarian–One Poverty Response System (OHOPRS), a coordinated approach designed to align emergency assistance, social protection, and long-term poverty reduction.
The initiative, introduced under the Renewed Hope Agenda of President Bola Tinubu, seeks to harmonize government and partner efforts in responding to humanitarian crises while creating sustainable pathways out of poverty.
The framework was unveiled during a high-level engagement involving federal and state institutions, development partners, humanitarian agencies, academia, and technical organizations. Stakeholders at the meeting emphasized the need for a unified national system capable of addressing the growing complexity of humanitarian needs and multidimensional poverty across Nigeria.
Nigeria’s Minister of Humanitarian Affairs and Poverty Reduction, Bernard M. Doro, said the initiative marks a major shift from isolated interventions to a coordinated national architecture that connects humanitarian assistance with recovery, resilience, livelihoods, and sustainable development.
He stressed that poverty reduction and humanitarian response must be treated as a national priority, particularly in a country facing climate-related shocks, displacement, food insecurity, and widening economic vulnerability.
According to the minister, OHOPRS will help align institutions, resources, and data systems around measurable outcomes for citizens while enabling vulnerable households to transition from dependency to productivity.
International partners welcomed the reform and pledged support for its implementation.
The Resident Representative of the United Nations Development Programme (UNDP) described the framework as an important systems-based reform that places resilience and inclusion at the center of national development. He noted that the initiative provides a platform for linking humanitarian response with long-term development outcomes.
Similarly, the Head of Office of the United Nations Office for the Coordination of Humanitarian Affairs (UNOCHA) said the framework strengthens national ownership of humanitarian coordination and improves alignment between humanitarian operations and government systems.
The Country Representative of UNICEF highlighted the opportunity to better reach vulnerable children and families through integrated programming that connects emergency response with education, nutrition, child protection, and social protection services.
The World Bank Country Director also welcomed the initiative, noting that stronger data systems, measurable outcomes, and improved institutional coordination are essential for sustainable poverty reduction.
Support for the initiative also came from the European Union, whose ambassador to Nigeria and ECOWAS emphasized the importance of transparency, evidence-based planning, and stronger partnerships to ensure development investments produce lasting results.
Humanitarian partners also underscored the importance of improved coordination. The head of the European Civil Protection and Humanitarian Aid Operations (ECHO) highlighted the need for better vulnerability targeting and accountability, while the Nigeria Country Director of International Alert noted that poverty, insecurity, and vulnerability are interconnected and require integrated, conflict-sensitive responses.
Experts from academia and government statistical institutions also emphasized the role of research and data in the success of the initiative. The Vice Chancellor of Yakubu Gowon University called for strong collaboration between policymakers and research institutions, while the Statistician-General of the Federation stressed the need for credible data systems to support planning, targeting, and monitoring.
State governments are expected to play a critical role in implementing the framework, aligning their humanitarian and poverty reduction programmes with the national system to ensure better targeting and more responsive service delivery.
A key component of OHOPRS is the development of an integrated data and monitoring ecosystem to track needs, interventions, funding, and outcomes across different levels of government and partner organizations.
Officials say the initiative is not merely a programme but a broad systems reform intended to transform how Nigeria supports vulnerable populations. By linking humanitarian action with long-term poverty reduction, the government hopes to move communities from recurring crises toward resilience and economic opportunity.
The Federal Government called on ministries, state authorities, development partners, civil society organizations, academia, and the private sector to align with the framework and contribute to its implementation, stressing that addressing humanitarian vulnerability and poverty requires coordinated leadership and sustained collaboration.
Nigeria Launches Unified Framework to Tackle Humanitarian Crises and Poverty
News
One Week After Black Monday in Maiduguri, Police Headquarters Count Losses
One Week After Black Monday in Maiduguri, Police Headquarters Count Losses
By: Bodunrin Kayode
As Maiduguri residents continue to count the cost of casualties from last Monday’s IED explosion, the Nigerian Police Command headquarters has said that one of its men, Sergeant David Samuel has lost his life in the tragedy.
The Command which has been very careful in the way the death of the sergeant was managed announced through their spokesman Nahum Daso that it has been established that a police sergeant serving the country in the state paid the supreme sacrifice after being inflicted with multiple wounds at the Monday market explosion.

Until his death, the tall Sergeant David Samuel was one of the guards securing the Monday market against insurgents who have a penchant for penetrating multi billion naira crowded areas like the Monday market.
Though Police Sergeant Samuel did not die on the same Monday evening the tragic incident occurred, he died two days after possibly due to the resultant injuries which led to excessive bleeding.
While many others survived due to the innate resilience of residents of the city to survive, Sam however died two days after the blast on wednesday last week due to what hospital sources described as complications at the University of Maiduguri Teaching Hospital (UMTH) were he was finally admitted after the blast.
Spokesperson of the Police Command who disclosed the sad news to this reporter noted that Sergeant Samuel had reported for duty that day not knowing that last monday would be his last assignment for his country.
“He actually died of multiple injuries not on the spot but in the hospital. The injuries in many parts of his body obviously led to complications coupled with the trauma which would have dealt a heavy blow on him” said ASP Daso.
Sergeant Sam who hails from Askira Uba is survived by his parents, siblings and family members and has since being buried at the Dala cemetery in Maiduguri after the church service held at EYN tanki

Maiduguri had witnessed a lull in such violent active by these criminals until recently when troops embarked on clearance operations dealt heavy blows in the insurgent hideouts inside the Timbuktu triangular and beyond.
One Week After Black Monday in Maiduguri, Police Headquarters Count Losses
News
Strong Bilateral Ties, Trade, Others Top Agenda As VP Shettima, Swiss Counterpart Meet
Strong Bilateral Ties, Trade, Others Top Agenda As VP Shettima, Swiss Counterpart Meet
By: Our Reporter
Switzerland to return Benin bronzes, artefacts to Nigeria, pledges support to combat insecurity in North East
Nigeria and Switzerland have agreed to actively strengthen their bilateral relations, focusing on a multi-faceted approach that spans trade, economic cooperation, skills acquisition, migration, security and cultural exchange.

This was the outcome of the meeting between Vice President Kashim Shettima and the Vice President of Switzerland, Mr. Ignazio Cassis, on Tuesday.
The Nigerian Vice President received his Swiss counterpart and his spouse, Paola Rodoni Cassis, at the presidential wing of the Nnamdi Azikiwe International, Abuja, where they met behind closed doors.
Addressing journalists after the meeting, Vice President Cassis, who is also the Foreign Minister of Switzerland, disclosed that discussions dwelled on improved bilateral relations, free trade agreement, skills acquisition, migration, cultural exchange, and support for Nigeria in tackling the security situation in the North East region.
He said, “We are considering improving our bilateral relations. We are considering to analyse the opportunity of making a free trade agreement with the AfCFTA family and Nigeria. Secondly, we are working together very much in diplomatic efforts to address the many different conflicts in the North Eastern part of Nigeria.
“Thirdly, we are contributing to vocational training in Nigeria, with the Swiss companies in Nigeria creating the best conditions for young people to peacefully live together by being skilled enough to have jobs for the future.”

Vice President Cassis noted that the two countries also agreed to improve cultural cooperation, including restitution of cultural materials, even as he said, “We also have cooperation in migration issue, and every year, we are meeting together, where we explore every facet of this cooperation.”
He expressed gratitude to Nigeria for its continuous presence in the World Economic Forum (WEF) held annually in Davos, just as he congratulated the nation for the Nigeria House commissioned in Davos this year.
Shedding more light on the outcome of the meeting, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, said the discussions were a continuation of the old relationship between both countries that dates back to 1961.
He said, “Vice President Cassis expressed keenness to see Nigeria and Switzerland sign a free trade agreement, and this is a very welcome development. There were other discussions about Swiss businesses and investments. There are so many of them, and that is why from here he goes to Lagos to engage with the private sector.”
The Minister disclosed that the Swiss government also agreed to return bronzes and artefacts belonging to the Benin Kingdom in Edo State, as part of efforts to strengthen cultural ties between both countries.
“There was a general assurance that we need to strengthen the relationship between the two countries not just when it comes to business but also cultural aspect of the relationship.
“So, there are Benin bronzes that are going to be returned from Switzerland. He informed the Vice President that the Swiss Minister of Culture will be visiting Nigeria shortly, and this was something that was highly appreciated,” Tuggar stated.
He said Vice President Shettima welcomed the developments “and assured that Nigeria will continue to engage with Switzerland and continue to attend the World Economic Forum in Davos because there were some uncertainties as to whether it will remain in Davos or not.”
Other members of the Swiss delegation included Director of the Swiss Agency for Development and Cooperation, Ambassador Patricia Danzig; Head of the Africa Division, Ministry of Foreign Affairs, Ambassador Philip Stalder; Head of the Peace and Human Rights Division, Ministry of Foreign Affairs, Ambassador Tim Enderlin, and Swiss Ambassador to Nigeria, Ambassador Patrick Egloff,” among others.
Strong Bilateral Ties, Trade, Others Top Agenda As VP Shettima, Swiss Counterpart Meet
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