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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
Zulum Disburses ₦2bn Starter Packs to 2,970 Trained Borno Youths in Massive Empowerment Drive
Zulum Disburses ₦2bn Starter Packs to 2,970 Trained Borno Youths in Massive Empowerment Drive
By: Michael Mike
Governor Babagana Zulum on Tuesday rolled out a ₦2.05 billion empowerment package for 2,970 young people trained in vocational skills across Borno State, marking a major push in the state’s transition from humanitarian recovery to economic rebuilding after more than a decade of insurgency.
The beneficiaries, who graduated from nine modern vocational enterprise institutes and centres established by the Zulum administration, received comprehensive starter packs and business kits designed to enable immediate take-off of small and medium-scale enterprises.

The ceremony, held at the Muna Vocational Enterprises Institute in Maiduguri, drew senior government officials, lawmakers and technical education stakeholders, underscoring the scale and strategic importance of the intervention.
Addressing the gathering, Zulum described youth empowerment as a cardinal pillar of his administration, particularly in a state where insurgency disrupted livelihoods, deepened unemployment and left thousands of young people vulnerable.
He said the government deliberately prioritised skills acquisition and entrepreneurship as sustainable pathways to restore dignity and rebuild productive capacity.
“We remain mindful of the devastating effects of insurgency on our communities,” Zulum stated. “It became imperative for government to implement sustainable interventions aimed at restoring dignity, creating opportunities and rebuilding productive capacity among our people.”

The governor noted that since 2019, his administration has established five major vocational enterprise institutes in Muna, Mafa, Biu, Shani and Magumeri, reactivated nine vocational training centres, and set up three Second Chance Skills Entrepreneurship Schools targeted at women and girls.
He disclosed that over ₦40 billion has been invested in building, rehabilitating and equipping vocational institutes, training centres and technical colleges across the state. According to him, the investment aligns with a broader Technical and Vocational Education and Training (TVET) strategy aimed at reducing the number of out-of-school youths, promoting self-reliance and creating a skilled workforce capable of contributing to the state and national economy.
The graduates were trained in high-demand sectors such as information technology, construction, plumbing, tailoring, welding and other artisan trades, reflecting the state’s intention to match training with market realities.

Earlier, Commissioner for Education, Engr. Lawan Abba Wakilbe, said the initiative was a direct product of Governor Zulum’s vision to empower conflict-affected youths with practical, employable and entrepreneurial skills.
He explained that the programme was conceived as part of a broader social and economic rebuilding agenda to support vulnerable groups, particularly young people and women whose lives were disrupted by years of insecurity.
The event was attended by the Executive Secretary of the National Board for Technical Education, Professor Idris Bugaje; Senators Mohammed Tahir Monguno, Mohammed Ali Ndume and Kaka Shehu Lawan; Secretary to the Borno State Government, Bukar Tijani; Acting Chief of Staff, Babagana Mallumbe, among other dignitaries.
With the distribution of the ₦2 billion starter packs, the Borno State Government signalled a deliberate shift from short-term relief interventions to long-term economic empowerment, positioning youth entrepreneurship as a central driver of stability, growth and lasting peace in the state.
Zulum Disburses ₦2bn Starter Packs to 2,970 Trained Borno Youths in Massive Empowerment Drive
News
Send Your Kids To Acquire Technical Education Now……Zulum
Send Your Kids To Acquire Technical Education Now……Zulum
By: Bodunrin Kayode
Borno Governor Professor Babagana Zulum has called on residents to send their wards into the technical vocational and education training (TVET) centre for them to acquire skills for livelihood.
He regretted that there are about nine vocational enterprise institutes/ centres in Borno state but young people are not responding to the opportunities that abound in these training centres the way he felt they should embrace it.

The Governor who attended the graduation ceremony of 2,970 trainees Tuesday at the vocational enterprise institute Muna in the outskirts of Maiduguri said he hardly shed tears over anything but the way the young people dismiss the opportunities offered by these centres sometimes make him to tear up.
Speaking in Hausa to the locals present, he went on ” Look I established centres like this one here, in Mafa and all over the state but sadly the young ones are painfully snubbing these places which is there to change their lives and teach them how to fish.
” I hardly shed tears easily but each time I watch our young ones who need these opportunities snubbing what we brought for them to benefit, I feel bad indeed. It makes me feel like shedding tears.

” This is why I am begging you to please hurry up and ensure you enroll your children to grab this opportunity which is lined up for them now that it lasts.”
He assured the Executive Secretary of the National Board for Technical Education (NBTE), Professor Idris Bugaje that Borno will continue to lead in the TVET centre module of training for as long as there are out of school kids and orphans littering the metropolis and the countryside.
He assured the NBTE boss that Borno is not yet done with his agency adding that he will surely find a way to sit down and work something out that would be beneficial to the state on the long term basis.

Zulum posited that a situation in which a serious business man like Dangote will have to bring in as many as 11,000 technicians from India to boast production in his refinery when young Nigerians would have taken such position is sad.
The Governor warned parents that they have only five years left to think about the offers in the centres and enroll their kids so that they too will become beneficiaries of the goodies offered by the system.
At the end of the speech making session, Gov Zulum, awarded 100,000 naira each to the 2,970 beneficiaries who completed their intensive vocational training across the state.
Zulum equally distributed starter packs and business kits valued at ₦2,050,000,000 to the graduates, aimed at equipping them to establish their own enterprises to become self-employed almost immediately.

The beneficiaries were drawn from the nine vocational training institutes located across Borno State offering skills in fields such as information technology, plumbing, construction, tailoring, welding and various artisan trades.
Governor Zulum, while addressing the gathering, reiterated his administration’s commitment to supporting young people, particularly those affected by over 10 years of insurgency in the state.
“Distinguished ladies and gentlemen, one of the cardinal priorities of this administration has been youth empowerment and the protection of vulnerable members of our society. We remain mindful of the devastating effects of insurgency on our communities, which disrupted livelihoods, increased unemployment and exposed many young people to uncertainty and hardship.
“It became imperative for the government to implement sustainable interventions aimed at restoring dignity, creating opportunities and rebuilding productive capacity among our people.
“It is with great honour and a deep sense of fulfilment that I address this distinguished gathering on the occasion of the graduation and presentation of starter packs to 2,970 trainees drawn from nine vocational enterprises institutes and centres across Borno State.
“In addition, we reactivated nine vocational training centres and three second chance skills entrepreneurship schools dedicated to women and girls.” Said Zulum.
The Governor said that the institutes prioritises the enrolment of vulnerable individuals, particularly those affected by insurgency and provide structured training in diverse vocational and technical trades to enhance employability and economic independence.
Prof Zulum revealed that, his administration had invested over ₦40 billion in the establishment, rehabilitation, and equipping of vocational enterprises institutes, vocational training centres and technical colleges across Borno State since he was sworn into office.
According to Zulum, this strategic investment is aimed at reducing the number of out-of-school youths, promoting self-reliance and developing a skilled workforce capable of contributing meaningfully to both the state and national economy through Technical and Vocational Education and Training (TVET).
Commissioner for Education, Lawan Wakilbe, explained Zulum’s vocational training concept, which he noted is a direct product of the visionary leadership and unwavering commitment of the Governor whose administration recognises the urgent need to empower youths with practical, employable and entrepreneurial skills.
The initiative he stressed is equally part of the Governor’s broader agenda to promote self-reliance, restore dignity, rebuild livelihoods, particularly among conflict-affected youths, women and vulnerable members of the society.
Send Your Kids To Acquire Technical Education Now……Zulum
News
FRSC moves to enforce discipline, professionalism
FRSC moves to enforce discipline, professionalism
The Federal Road Safety Corps (FRSC) on Tuesday, sensitised its personnel in Gombe State to enhance discipline, professionalism, and service delivery.
Corps Marshal, Shehu Mohammed while engaging with personnel at the FRSC Gombe Sector Command said the initiative was borne out of the need to respond to recent operational reports that reveal trends “we cannot and will not ignore.”
Mohammed who was represented by an Assistant Corps Marshal Ezekiel SonAllah said the Corps had observed a disturbing decline in discipline and professionalism.
He said that those lapses had manifested as misconduct, unethical practices, abuse of authority, extortion, reckless enforcement behaviours and other actions that contradicted its mandate and were steadily eroding public trust in the Corps.
The Corps Marshal reminded the personnel that such behaviours were not only unacceptable but endangered the credibility and reputation of the Corps.
“Every time a road user loses confidence in us, our mandate becomes harder to achieve; every act of unprofessional conduct damages the image of thousands of disciplined staff and every abuse of authority weakens the trust built over decades,” he stressed.
Mohammed further told personnel that discipline was not punishment but protection, as “ It protects our reputation, our careers, the Corps and ultimately the lives of Nigerians who depend on us daily.”
According to him, professionalism to the Corps is mandatory and not optional.
The Corps Marshal also warned personnel against extortion, harassment and abuse of authority, emphasising that such acts were illegal and would not be tolerated.
He expressed optimism that the engagement with personnel would help restore the highest standards of discipline, rebuild public confidence, towards making the Corps an enduring symbol of professionalism and integrity.
Our Correspondent reports that the theme of the sensitisation is “Discipline, Reinforcement and Strengthening of Command and Control in the Field Commands.”
Recall that FRSC, in February, dismissed 43 of its personnel over offences bordering on desertion, scandalous conduct and patrol-related misconduct.
The move was described by the Corps as a firm demonstration of its zero tolerance for indiscipline and ethical breaches.
FRSC moves to enforce discipline, professionalism
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