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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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Lafarge Africa rakes in N97.95bn profit in Q1 2026

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Lafarge Africa rakes in N97.95bn profit in Q1 2026

By Hajara Usman

Lafarge Africa Plc says it has reported a big profit for the first three months of 2026. The company made N97.95 billion after tax. This is much higher than the N48.64 billion it made in the same period in 2025.

The company also earned more money from sales. Its net sales increased to N334.88 billion. This is a 35 percent rise from N248.35 billion last year.

The Chief Executive Officer, Lolu Alade-Akinyemi, said the good result came from higher sales and careful spending. He said better factory work, more production, and improved delivery helped the company grow.

He also said operating profit rose by 97 percent to N141 billion. Profit after tax increased by 101 percent. According to him, this was made possible by strong demand, good cost control, and better supply.

The company said it will keep working with its partner, Huaxin Building Materials Ltd, to improve its operations.

Lafarge Africa added that demand for cement is growing in Nigeria, especially in building and construction. The company plans to continue controlling costs and growing its business.

It also thanked its customers and partners for their support and promised to keep delivering good results in the future.

Lafarge Africa rakes in N97.95bn profit in Q1 2026

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2027: Don’t Pull Down the Roof

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2027: Don’t Pull Down the Roof

By Senator Kashim Shettima, GCON

The political season is upon us again, and with it comes the familiar fever of democracy. Across our wards and local governments, across party offices and private homes, consultations have begun. Aspirants are making calls, elders are receiving visits, supporters are counting delegates, and the marketplace of ambition is alive once more.

This is proof that our democracy still breathes. It is evidence that power in our republic is still something to be negotiated, contested, persuaded, and earned. But every season of politics also comes with its temptations. It comes with the temptation to mistake disagreement for betrayal, competition for enmity, preference for exclusion, and media interpretation for truth.

This is why, at this delicate hour, we must speak to ourselves with candour, but also with restraint. We must remind ourselves that a political party is not a battlefield. It is a family. And even in the most spirited family, the roof must never be pulled down because one room appears warmer than another.

We are members of one political household. We may have different aspirations, different loyalists, different zones of influence, different calculations, and different preferred outcomes. That is normal. Democracy was never designed to abolish ambition. It was designed to civilise it. It was designed to teach us that we can compete without destroying one another, disagree without demonising one another, and lose without setting fire to the very platform that gave us a voice.

We must therefore refuse the temptation to be manipulated by the media, by mischief-makers, by vested interests, or by those who profit from division. There will always be those who whisper that one leader has been slighted, that one bloc has been excluded, or that one interest has been buried. These are familiar tricks in the theatre of politics. They are meant to provoke suspicion, inflame supporters, and turn comrades into adversaries before the real contest even begins.

But leadership demands that we rise above provocation. Leadership demands that we ask: who benefits when brothers fight? Who gains when a party weakens itself before facing the opposition? Who profits when those who should be building bridges begin to dig trenches?

The truth is simple. The real challenge before us does not end with the primaries. In fact, it begins after the primaries. The primaries will produce candidates, but the general election will test the strength of our unity. A fractured party may produce a candidate, but only a united party can produce victory. A ticket may be won in a hall, but an election is won in the streets, in the villages, in the markets, in the polling units, and in the hearts of the people.

This is why every party chieftain, every aspirant, every stakeholder, every delegate, and every supporter matters. Each of us is a raindrop, and each raindrop matters in the making of a flood. No raindrop is too small to be ignored. No stakeholder is too insignificant to be respected. No supporter is too ordinary to be heard. The strength of a party is not only in its most visible leaders; it is in the quiet loyalty of the people who stand by it when the applause has faded.

For this reason, moderation must be our watchword. Moderation is not weakness. It is wisdom in public conduct. It is the discipline to speak without poisoning the well. It is the maturity to pursue an interest without injuring the family. It is the grace to understand that today’s disappointment may become tomorrow’s opportunity, and that the bridge we burn in anger may be the road we need in another season.

We cannot all win at the same time. This is the first hard lesson of politics. For every ticket, only one candidate will emerge. Many will consult. Many will spend. Many will hope. Many will be encouraged by supporters, friends, and elders. But at the end of the process, only one name will be submitted. That outcome, however painful to others, is not always an injustice. It is often the unavoidable arithmetic of democracy.

The true test of a politician is not how loudly he campaigns when the wind is behind him. The true test is how he behaves when the wind turns against him. Anyone can celebrate victory. It takes character to manage disappointment. It takes statesmanship to congratulate a rival. It takes patriotism to remain loyal to the house even when the room assigned to you is not the one you desired.

We must also be honest with ourselves. Endorsements are not strange to politics. Preferences are not crimes. Leaders, elders, and stakeholders will naturally have opinions about those they believe can consolidate achievements, protect party interests, and advance the public good. But preference must never become provocation. Influence must never become intimidation. Persuasion must never become exclusion. The credibility of our process is the foundation of our legitimacy.

Party leaders must therefore act with fairness. Aspirants must be treated with dignity. Delegates must be allowed to act without fear. Processes must be transparent enough to command respect, even from those who lose. Where there are grievances, they must be addressed with patience and justice. Where there are rumours, they must be answered with clarity. Where there are wounds, they must be healed before they become infections.

But aspirants and their supporters also owe the party a duty of restraint. No ambition is worth the destruction of the platform that nurtured it. No grievance is worth the collapse of the house we all helped to build. No ticket is worth turning comrades into enemies. No loss is final enough to justify permanent bitterness.

Politics is a long road. Those who understand this do not burn their vehicles because of one rough turn. They do not abandon the journey because one gate did not open. Our history is filled with men and women who lost today and won tomorrow, who were overlooked in one season and became indispensable in another, who endured the pain of temporary defeat and later found the door of destiny opened wider than they imagined.

That is the beauty of patience. That is the wisdom of loyalty. That is the reward of staying useful.

We must also remember that the people are watching us. Nigerians are not merely listening to our speeches; they are studying our temperament. They are watching how we manage disagreement. They are watching whether we place service above ego. They are watching whether we can subordinate personal ambition to collective survival. A leader who cannot manage disappointment cannot be trusted to manage power. A politician who destroys his party because he lost a ticket may destroy a state because he lost an argument.

Our great party must not become a victim of its own strength. We are a large family, and large families must learn the art of accommodation. We are a party of many tendencies, many histories, many interests, and many sacrifices. That diversity is not a curse. It is our capital. But it must be managed with humility, fairness, and discipline.

We must not allow outsiders to narrate us into conflict. We must not allow headlines to dictate our emotions. We must not allow commentators, who will not stand with us in the rain, to push us into quarrels that will weaken us in the sun. The media has its place, and public scrutiny is part of democracy. But we must have the wisdom to separate honest analysis from engineered mischief.

At this moment, what our party needs is not noise but steadiness. Not suspicion but conversation. Not bitterness but maturity. Not factional triumphalism but collective responsibility. Every leader must lower the temperature. Every aspirant must discipline his camp. Every supporter must remember that today’s opponent in a primary may be tomorrow’s ally in a general election.

We have a larger duty to our nation. Politics is not an end in itself. It is a vehicle for service. It is the means through which we deliver security, education, jobs, infrastructure, prosperity, justice, and dignity to our people. If we reduce politics to personal entitlement, we betray the people whose mandate we seek. If we turn primaries into wars of ego, we abandon the very citizens who expect governance from us.

His Excellency, President Bola Ahmed Tinubu, GCFR, has shown, through a long political journey, that democracy thrives on accommodation, persuasion, resilience, and coalition-building. That example must guide us. The strength of a party is not in the absence of disagreements, but in its capacity to resolve them without losing its soul.

So, I appeal to our leaders: let us be fair. I appeal to our aspirants: let us be patient. I appeal to our supporters: let us be disciplined. I appeal to our party faithful: let us be united. The roof over this house shelters all of us. If we pull it down in anger, nobody will be spared by the storm.

Contest, but do not destroy. Disagree, but do not defame. Aspire, but do not divide. Lose, if it happens, with dignity. Win, if it happens, with humility. And after the primaries, let us close ranks, because the real battle will not be among ourselves. The real task will be to go before Nigerians with one voice, one purpose, and one renewed covenant of service.

Each of us is a raindrop. Alone, we may appear small. Together, we can become the flood that carries our party to victory and our country towards greater hope.

Let us therefore protect the house. Let us preserve the family. Let us choose moderation over mischief, unity over suspicion, and service over ego.

We will all have our season, but only if the house still stands.

By Senator Kashim Shettima, GCON.
Vice President, Federal Republic of Nigeria.

2027: Don’t Pull Down the Roof

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Outrage in Kogi as ‘Unarmed’ Student Killed by School Guards, Raising Fresh Questions on Extrajudicial Violence

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Outrage in Kogi as ‘Unarmed’ Student Killed by School Guards, Raising Fresh Questions on Extrajudicial Violence

By: Michael Mike

The killing of a final-year student, Andrew Amehson Aziko, allegedly by security guards at Nana College of Health in Okpo, Olamaboro Local Government Area of Kogi State, is drawing mounting scrutiny, with legal experts and rights advocates warning that the circumstances point to a possible extrajudicial execution and a broader failure of accountability.

The incident, captured in widely circulated video footage, has triggered calls for an independent investigation by the National Human Rights Commission (NHRC), amid growing concern over what residents describe as a troubling pattern of unlawful killings by local security actors in the area.

In the footage, the victim—reportedly unarmed and visibly distressed—is seen being beaten repeatedly with batons before he is shot at close range. He is heard pleading in Igala, asking the guards to “touch his hand,” while calling some of them by name, suggesting they were familiar with him. Community sources say Andrew had been undergoing treatment for mental health challenges and had wandered into the school premises after leaving a rehabilitation facility.

Under Nigerian law, the right to life is protected by Section 33 of the Constitution of the Federal Republic of Nigeria 1999, which permits the use of lethal force only in strictly defined circumstances, such as self-defence or the prevention of escape from lawful detention. Legal analysts say the conditions visible in the footage do not appear to meet that threshold.

“Even where there is suspicion of wrongdoing, force must be necessary and proportionate,” Abuja-based human rights lawyer Sadiq Bello said. “From what is publicly available, this raises serious questions of unlawful killing.”

Although the individuals involved are reportedly private security guards, rather than police officers, legal responsibility may still arise under the Criminal Code Act, which criminalises homicide, assault and excessive use of force. Experts note that private guards are not empowered to administer punishment and are expected, at most, to restrain suspects and hand them over to law enforcement authorities.

The case has also amplified concerns about the regulation and oversight of private security personnel operating in schools and other institutions, particularly in rural communities where formal law enforcement presence may be limited.

Rights advocates are now urging the National Human Rights Commission to step in, arguing that an independent, federal-level probe is necessary to ensure credibility and public trust. Under its statutory mandate, the Commission can investigate human rights violations, summon witnesses, conduct public inquiries and recommend prosecution or compensation.

A senior official familiar with NHRC processes said the Commission’s intervention could help ensure that evidence is preserved and that accountability mechanisms are not compromised at the local level. “This is precisely the kind of case that demands independent oversight,” the official said.

The killing is the second reported incident of its kind in Olamaboro within two months. In the earlier case, a young man reportedly died after being beaten by members of a vigilante group following a domestic dispute. That incident sparked protests and led to the arrest of several youths after clashes with security personnel, with some detainees said to remain in custody.

Residents say the recurrence of such incidents is deepening fear and eroding confidence in local security structures. “There is a pattern emerging—people taking the law into their own hands and facing no consequences,” a community member said.

Beyond the immediate act, questions are also being raised about the apparent absence of standard policing procedure in the handling of the situation. Established protocols require that suspects be apprehended using minimal force, that injured individuals receive immediate medical attention, and that incidents involving violence be promptly reported to the police, with scenes preserved for forensic investigation. None of these steps appear evident from available accounts.

The victim’s mental health condition has further intensified concern, with advocates stressing that individuals in distress require de-escalation and medical support, not force. “This reflects both a legal and humanitarian failure,” a Lokoja-based mental health advocate said. “A vulnerable person was treated as a threat rather than someone in need of help.”

Amid reports of planned protests, the Chairman of Olamaboro Local Government Area, Hon. Williams Ameh, has called for restraint, urging residents not to take the law into their own hands and to allow due process to run its course. However, skepticism remains high among residents who point to previous incidents where, they say, justice was neither transparent nor swift.

As of press time, the Kogi State Police Command had yet to issue an official statement or confirm whether any arrests had been made, a silence that has only intensified public concern.

Stakeholders are now calling for immediate steps, including the suspension of the implicated guards, the securing of the crime scene, and a transparent investigation involving independent oversight. For many in Okpo, the case has become more than an isolated tragedy—it is a test of whether the rule of law can still prevail.

“If this goes unpunished,” one resident said, “it tells everyone that a life can be taken without consequence.”

Outrage in Kogi as ‘Unarmed’ Student Killed by School Guards, Raising Fresh Questions on Extrajudicial Violence

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