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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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Army troops rescue 10 kidnapped women, recover rifle and ransom money in Sanga, Kaduna

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Army troops rescue 10 kidnapped women, recover rifle and ransom money in Sanga, Kaduna

By: Zagazola Makama

The Nigerian Army troops of 1 Division Operation FANSAN YANMA have rescued 10 kidnapped women during a coordinated search-and-rescue operation in Sanga Local Government Area of Kaduna State.

The women were abducted from their farms at Ungwan Nungu on Nov. 29.

Sources told Zagazola Makama that the successful operation was carried out after days of sustained days search operations to track the kidnappers.

The sources stated that at about 6:40 a.m. on Friday, the troops made contact with the abductors who were attempting to receive ransom money from relatives of the victims.

“The troops engaged the kidnappers with superior firepower, forcing them to abandon the victims and flee,” the sources added.

According to the sources, the troops rescued all 10 victims and recovered one fabricated AK-47 rifle, one round of 9mm ammunition and ₦1.6 million, said to be part of the ransom the criminals were attempting to collect.

The rescued victims have been debriefed and reunited with their families, while efforts are ongoing to track and arrest the fleeing suspects.

Army troops rescue 10 kidnapped women, recover rifle and ransom money in Sanga, Kaduna

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Why IPI Nigeria gave SSS DG, Oluwatosin Ajayi, Commendation Award

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Why IPI Nigeria gave SSS DG, Oluwatosin Ajayi, Commendation Award

By: Michael Mike

The Nigerian National Committee of the International Press Institute (IPI Nigeria) has explained the rational behind the award to the Director General of the Department of State Security, Mr Adeola Oluwatosin Ajayi.

In a statement justifying the commendation award to Ajayi, the committee said: “Since his appointment as Director-General of the State Security Service (SSS) in late August 2024, Mr Adeola Oluwatosin Ajayi has demonstrated an unmistakable commitment to press freedom and respect for journalists and media organisations.

“Unlike in previous years when the SSS was notorious for serial harassment, intimidation, and arrests of journalists, the agency under Mr Ajayi’s leadership has shown remarkable restraint, professionalism, and openness to dialogue. Conflicts between the Service and the media are now resolved amicably, through engagement rather than coercion.”

It cited few examples to illustrate this transformation to include:

“Barely hours into his tenure, one of our colleagues, Adejuwon Soyinka, was intercepted and detained in Lagos. Within hours of IPI Nigeria bringing the matter to his attention, Mr Ajayi directed the Lagos Command to release the journalist immediately.

“For decades, our member Lanre Arogundade had suffered humiliating treatment at Nigeria’s borders, having been placed on the SSS watchlist since the 1980s. Despite years of advocacy, previous assurances that his name had been removed turned out to be untrue. Shortly after assuming office, Mr Ajayi received a formal complaint from IPI Nigeria and acted swiftly—permanently deleting Mr Arogundade’s name from the watchlist.

“In the Order Paper case, the SSS arrested a staff member of the newspaper following an inaccurate report alleging the Service invaded the National Assembly to facilitate the removal of Senate President Godswill Akpabio. Once notified, Mr Ajayi immediately ordered that the detained journalist be granted administrative bail. Through constructive engagement, the matter was later resolved, all charges filed in court were withdrawn, and the case was closed.

“There was also a case involving one of our colleagues who became entangled in a personal matter unrelated to journalism. He was arrested alongside an associate. Acting on humanitarian grounds, we sought the DG’s intervention. Mr Ajayi obliged and ordered his release.

“In February 2025, the SSS contacted IPI Nigeria, accusing several media organisations of publishing falsehoods about its role in the Lagos Assembly crisis. Though understandably aggrieved, the DG worked patiently and collaboratively with us to resolve the dispute. The agency provided evidence that it had been invited by the Assembly leadership to secure the complex, and the matter was amicably settled without confrontation.

“In October 2025, without any prompting from IPI Nigeria, Mr Ajayi ordered disciplinary action against officers involved in the arrest and detention of two journalists from Jay 101.9 FM, a private radio station in Jos. He subsequently caused the SSS to issue a formal apology to the journalists and their organisation.

“For these and other reasons, we are honouring Mr Adeola Oluwatosin Ajayi today. We do so not only to acknowledge his commendable press freedom credentials but also to encourage him to do even more, and to inspire other officials, institutions, and organisations to emulate his example.”

Why IPI Nigeria gave SSS DG, Oluwatosin Ajayi, Commendation Award

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Drug war: NCWS commends President Tinubu, Marwa, seeks collaboration with NDLEA

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Drug war: NCWS commends President Tinubu, Marwa, seeks collaboration with NDLEA

By: Michael Mike

The National Council of Women Societies (NCWS) has commended President Bola Ahmed Tinubu over the reappointment of Brig. Gen. Buba Marwa (rtd) as Chairman/Chief Executive Officer of the National Drug Law Enforcement Agency for another term of five years.

National President of the NCWS, Princess Edna Azura who gave the commendation when she led other leaders of the Council on a courtesy visit to Marwa at the Agency’s national headquarters in Abuja on Wednesday, said the decision will further strengthen and consolidate the ongoing war against substance abuse and illicit drug trafficking.

She called for more collaboration between the women’s group and NDLEA in the area of joint sensitization programmes in schools, markets, and communities as well as training of women leaders in drug use prevention, treatment and care.

“We want to appreciate President Bola Ahmed Tinubu for this wonderful opportunity that he has given you extra five years. We are very, very grateful. This renewal is a clear national endorsement of your monumental contributions to national security, public health, women and youth protection. We are confident that your continued leadership will further fortify the nation’s fight against drug trafficking and promote sustainable peace and stability”, she noted.

She described Marwa’s leadership at NDLEA as transformative and inspiring. “Over the years, you have demonstrated what strong ethical and visionary public service truly means. Under your leadership, the Agency has recorded unprecedented achievements from dismantling sophisticated drug trafficking networks to intercepting record level quantities of illicit substances, improving intelligence driven operations, expanding community based preventive education and strengthening rehabilitation pathways for victims of substance abuse. We are very grateful for that. These achievements are not just institutional milestones, they represent hope for millions of families, especially women and children, who often suffer the silent painful consequences of drug related crime, domestic challenges and societal instability.”

While seeking further partnership with NDLEA in the fight against the drug scourge, Princess Azura said “at NCWS, we have also been actively mobilising women, mothers, teachers and community groups to participate in the fight against substance abuse. Our ongoing school outreach programmes, advocacy forums and community sensitisation campaigns across the states have proven that when women are fully engaged, prevention becomes more effective.”

She said the NCWS is eager to explore strategic areas of cooperation with NDLEA, including training of the Council’s national officers and state leaders as community anti-drug ambassadors; joint advocacy campaigns targeting mothers and caregivers; rehabilitation and reintegration especially for women and youths affected by substance abuse, among others.
In his response, Marwa expressed appreciation to the NCWS leaders for the visit and their kind remarks about him and President Tinubu. He said as the umbrella body for all women societies across the country, it is imperative for NDLEA to partner with the NCWS. He said the Agency considers the drug menace as Nigeria’s number one problem today because it affects everyone and every community directly or indirectly, adding that with a population of about 15million drug users, there’s the need for a whole of society response.

“So, this is a big challenge and government cannot handle it alone, we have to have the whole of society to work with us. So NCWS, we don’t have any bigger partners than you because you are the mothers handling families all over the country, and it is very, very critical that you stand up. You have to stand up and be part of this struggle to redeem the souls of our young boys and girls, including the women who are afflicted”, he stated.

The NDLEA boss assured the women leaders that the NDLEA will not only partner with them but will equally organise Drug Use Prevention, Treatment and Care (DPTC) training to equip them for the task ahead in 2026. “We will hold a DPTC training for you, we usually to do that for governors’ spouses and I think we will tailor it to exactly what you will need, so that you can also take it down to the states, and down to the grassroots.”

He urged them to also buy in and take ownership of the current push for drug integrity test for intending couples as part of efforts to discourage substance abuse and encourage early detection and treatment, especially among the youth.

Drug war: NCWS commends President Tinubu, Marwa, seeks collaboration with NDLEA

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