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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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26 Militias Reportedly Killed in ISGS Attack in Niger’s TillabĂ©ri Region as the country faces unprecedented security collapse

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26 Militias Reportedly Killed in ISGS Attack in Niger’s TillabĂ©ri Region as the country faces unprecedented security collapse

By: Zagazola Makama

No fewer than 26 members of a local militia were reportedly killed on Feb. 26 during a large-scale attack by suspected fighters of the Islamic State in the Greater Sahara (ISGS) in Niger’s volatile TillabĂ©ri Region.

Local sources told Zagazola Makama that the attack occurred in the Anzourou area, where armed assailants targeted militia positions across four villages to Doukou Makani, Doukou Djindé, Doukou Koira-Tegui and Doukou Saraou.

According to preliminary reports, the gunmen carried out coordinated assaults on the communities, resulting in significant casualties among members of the self-defence groups operating in the area.

Residents said the militias had been formed by local communities to protect themselves against recurring attacks by extremist groups operating in the region.

Tillabéri, located in western Niger near the borders with Mali and Burkina Faso, has been a hotspot of militant violence in recent years, with armed groups frequently targeting both security forces and civilian populations.

Niger is confronting an unprecedented security crisis, with northern regions increasingly falling under the control of armed groups, foreign rebels, and jihadist factions. The state’s territorial integrity is under severe threat, with grave implications for neighbouring countries, including Nigeria.

Since the July 2023 coup, Niger has witnessed a dramatic deterioration in security. Once largely confined to the tri-border area with Mali and Libya, insurgency and criminal networks now operate across vast stretches of the country, establishing quasi-permanent bases, checkpoints, and logistical corridors.

Recent clashes between Libyan rebel factions, including Katibat 604 and the Southern Revolutionaries, deep inside Niger’s territory highlight the scale of the challenge. Reports indicate these operations extend up to 200 kilometres from the border, conducted with helicopters, drones, and ground troops, capturing rebels and consolidating strategic corridors such as the La Salvador Pass a key conduit for arms, illicit goods, and militant movements.

It gathered that the Libyan operations, reportedly claimed by the 604 Brigade, are carried out independently of Nigerien forces. The Nigerien National Army or local security units were absent during these incursions, reflecting the limitations of the Nigerien army in securing its borders. The operation reportedly left five rebels dead and ten detained, including Moussa Worodougou, the younger brother of rebel leader Mahamat Worodougou.

Northern Niger has effectively become a “no man’s land,” with jihadist groups such as ISWAP, EIGS, and JNIM consolidating positions and exploiting weak state presence. Villages and towns, including Dosso, TillabĂ©ri, Tahoua, and parts of the tri-border zone, are increasingly isolated, turning rural areas into hunting grounds for armed actors. Civilians, security personnel, and infrastructure are targeted with IEDs, ambushes, and raids, while law enforcement and army patrols remain sporadic and reactive.

The crisis is compounded by the presence of foreign-backed rebel movements like FACT and CCMSR, operating openly in Niger’s north with tacit protection or coordination with the Niamey junta. Analysts warn that these developments create a permissive environment where armed factions can reorganize, move freely, and threaten regional stability. The situation poses direct implications for Nigeria, particularly in its northern border states, as these corridors facilitate cross-border infiltration, arms smuggling, and militant movement.

Zagazola argue that the Nigerien army faces critical challenges in asserting authority, maintaining supply lines, and controlling territory in the north. Without robust coordination, intelligence-led operations, and international, the continued fragmentation of authority may allow armed groups to entrench themselves further, undermining both national and regional security.

Zagazola stress that the crisis is no longer merely a security issue. It reflects a wider institutional weakness, exposing governance failures, fragile command structures, and the limits of military capacity.

For Nigeria, the porous borders and neighboring instability has been enabling the insurgent groups with sanctuary which complicate the country’s counterterrorism operations, and amplify the risk of cross-border attacks like what we have been witnessing in Kebbi, Sokoto, Kwara and Niger state.

The Nigerien army, despite constrained resources, continues limited patrols and counter-insurgency efforts, but the scale of armed groups’ presence and the sophistication of cross-border networks demand sustained regional and international collaboration.

Zagazola emphasize that failure to address these strategic vulnerabilities risks turning Niger into a permanent sanctuary for militants, with destabilizing consequences across the Sahel and for Nigeria’s northeastern and Northwestern frontier.

26 Militias Reportedly Killed in ISGS Attack in Niger’s TillabĂ©ri Region as the country faces unprecedented security collapse

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FG Endorses, Pledges Support for Nigeria Press Council’s National Economic and Toursim Conpendium

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FG Endorses, Pledges Support for Nigeria Press Council’s National Economic and Toursim Conpendium

VP Shettima: President Tinubu, Friend Of The Media, Remains Firm Believer Of Press Freedom

By: Our Reporter

The Vice President, Senator Kashim Shettima, has pledged the Federal Government’s support for the Nigeria Press Council’s national compendium on economic and tourism potentials across Nigeria.

This is as the Vice President described President Bola Ahmed Tinubu as a friend of the media who is a firm believer of independence of the press.

This, he said, explains why the Tinubu administration has, in the past three years, continued to promote an environment that is conducive for journalists to carry out their duties without harassment.

Senator Shettima stated this on Thursday in Abuja when he received a delegation from the Nigeria Press Council (NPC) led by its Executive Secretary and Chief Executive Officer (CEO), Dr. Dili Ezughah, on a courtesy visit to the Presidential Villa.

Noting that President Tinubu has remained a friend of the media, the Vice President recalled how the President had used his personal resources to assist media organizations.

According to him, people have been making libelous and provocative utterances, with incisive vituperations, against the administration and are allowed to get away with them because the President is very tolerant.

“The President is a friend of the media. He used to assist them from his personal resources, with newsprints and other support mechanisms. He is also a publisher. So, he knows the ecosystem very well, and he believes in the independence of the press.

“For the past three years, have you heard of any harassment of journalists? His tolerance threshold is so high that people who are making incendiary remarks are allowed to have their day for peace to reign in the country,” he stated.

Pledging presidential support for the Council’s bid to get official national endorsement of the publication it is currently working on, VP Shettima also promised to appeal to governors of the 36 states of the federation to key into the project.

“The subnationals own the land, own the people. Their role is very pivotal in really pushing this country forward,” he stated, emphasizing why a buy-in from the governors is pivotal to the book project.

The VP further noted that the national compendium titled, “Nigeria: Documenting the Economic and Tourism Profiles of the 36 States and the FCT,” is a welcome development, expressing hope that the publication would sell Nigeria to the world.

“If you go to other countries, you will see similar books at the airport stands. In terms of the quality of the job, the writings are so top-notch that we can embrace it as our national treasure, and see to it that it is massively printed and circulated to our embassies,” the VP observed.

Earlier, the Minister of Art, Culture, and the Creative Economy, Barr. Hannatu Musa Musawa, thanked the Vice President for his continued leadership and support for initiatives that strengthen Nigeria’s economic and cultural positioning.

According to her, the publication is particularly significant for the tourism and creative economy sectors, as Nigeria’s tourism assets, cultural heritage, and creative industries represent major drivers of economic diversification.

She, however, explained that for these sectors to attract investment and gain global recognition, they must be documented and presented in a structured and credible format such as the compendium, thereby bringing visibility to Nigeria’s cultural sites, tourism destinations, creative hubs, and heritage assets across all thirty-six states and the Federal Capital Territory.

Also, Bauchi State Deputy Governor, Mohammed Auwal Jatau, on behalf of the state Governor, Bala Mohammed, expressed gratitude to the country’s leadership, noting that if the document is approved, every state is likely to benefit based on its respective tourism potential.

For his part, the Executive Secretary of the NPC, Dr. Ezughah, expressed gratitude to the Vice President for granting an audience to the NPC Planning Committee while acknowledging his consistent support for sub-national economic development and national coordination.

He explained that the national compendium being developed spotlights Nigeria’s economic and tourism profiles and requires the Vice President’s strategic direction on the document.

FG Endorses, Pledges Support for Nigeria Press Council’s National Economic and Toursim Conpendium

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NRM Presidential Aspirant Faduri Declares 2027 Ambition, Vows To Rescue Nigeria From ‘Political Elites’

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NRM Presidential Aspirant Faduri Declares 2027 Ambition, Vows To Rescue Nigeria From ‘Political Elites’

By: Our Reporter

Faduri Oluwadare Joseph, popularly known as Fadojoe, has formally declared his intention to contest the 2027 presidential election under the platform of the National Rescue Movement (NRM), promising what he described as “people-first leadership” to pull Nigeria back from economic decline and insecurity.

In a speech announcing his ambitionnon Wednesday, the sociologist and US-based healthcare executive said Nigeria was “bleeding” and required urgent rescue from years of corruption, mismanagement and what he called recycled political leadership.

Faduri, who hails from Ipetu-Ijesha in Osun State, recounted his early life struggles, revealing that he lost his father at the age of four and his mother at fourteen.

A graduate of Ambrose Alli University, Ekpoma, Edo State, Faduri also stated that he is a licensed nurse in New York, United States, and currently serves as CEO of F Planet Group USA, with interests spanning healthcare, consulting, foundation work and film production.

Referencing Nigeria’s founding leaders—Nnamdi Azikiwe, Abubakar Tafawa Balewa and Obafemi Awolowo—the presidential hopeful said the country had drifted far from the ideals of a true republic envisioned at independence.

According to him, Nigeria has degenerated into a nation where poverty, youth unemployment, insecurity and currency depreciation have replaced the prosperity and unity of earlier decades.

Faduri blamed Nigeria’s challenges on systemic corruption and leadership failure, arguing that personal interests have consistently been placed above national interest.

He questioned the continued dysfunction of state assets such as refineries and the Ajaokuta Steel project, asking why thousands of workers are still paid in non-functional institutions while the country depends heavily on private interests and foreign services.

The NRM aspirant disclosed that he previously joined the Labour Party ahead of the 2023 elections and contributed to building the platform that produced Mr. Peter Obi as presidential candidate, but stepped down in the interest of unity.

Quoting American civil rights leader Martin Luther King Jr., he said leadership must be measured by courage in times of crisis, insisting that Nigeria now needs decisive and people-driven governance.

Faduri said he would contest under the National Rescue Movement, symbolised by the honeybee, adding that it was time to return Nigeria “to her honey days.”

If elected, he promised to prioritise economic stability, strengthen the naira, revive local refining capacity, and address energy costs. He also pledged to make primary and secondary education compulsory, strengthen vocational training, and ensure lecturers’ salaries are paid promptly.

He further promised to rebuild public hospitals to world-class standards and vowed that no government official, including himself, would seek medical treatment abroad at public expense.

Other priorities listed include decentralising electricity supply, reforming and strengthening the military and police, and promoting local manufacturing, including the use of locally produced vehicles for official purposes.

Framing the 2027 election as “the people versus the political class,” Faduri called on Nigerians at home and in the diaspora to join what he termed a “rescue mission” to rebuild the country.

The statement reads in part; “When the founding fathers of this nation came together in the struggle for independence—great leaders like Nnamdi Azikiwe, Abubakar Tafawa Balewa, and Obafemi Awolowo—they fought for a Republic. A true Republic—if we can keep it.

“A Republic where government would be kind to its people. A Republic where life would be dignified, where food would be affordable, where citizens would love one another, and where love of country would supersede love of self. A Republic where leaders would create an enabling environment for prosperity through the proper use of our vast human and natural resources.

“A Republic where citizens would collaborate with government to build a society we can all be proud of. A Republic where morality, decency, and the fear of God would guide leadership. Above all, a Republic where people would feel safe in their own land. Today, my fellow Nigerians, we must admit that what we have falls far short of that vision.

“We now live in a nation that resembles a jungle—where survival of the fittest has replaced shared prosperity. A nation plunged into poverty by leaders who once enjoyed the best of Nigeria in their youth but have failed to preserve it for future generations.

“While the rest of the world is discussing artificial intelligence and technological breakthroughs, we are still campaigning with rice, noodles, onions, and ₩42,000 handouts on election day. What a tragedy.

“There was a time when the Nigerian passport was among the most respected in the world. Our naira was strong. Education was free and qualitative. Jobs awaited graduates even before graduation. Housing schemes met population growth. Hospitals functioned. Rural health centres served communities. You could travel safely from Lagos to Sokoto or from Port Harcourt to Maiduguri without fear.

“We lived as brothers and sisters—hopeful, united, and prosperous. But what do we have today? One of the highest youth unemployment rates in the world. Rising insecurity. A struggling economy. A free-falling currency. A passport that no longer commands respect. A nation once united now divided by suspicion and fear. A country once flowing with opportunity now burdened by poverty, hunger, kidnapping, and corruption.

“My fellow Nigerians, how did we get here? How did we descend to this level where our citizens flee daily as though escaping a war zone? We got here through years of systemic corruption, mismanagement, and policies that moved our country from boom to doom. We got here because leaders placed personal interest above national interest.

“Even those in the diaspora, who struggle daily abroad, still carry the burden of families back home. Many of our health workers abroad—once undervalued here—now treat Nigerian leaders overseas for ailments that should be handled in our own hospitals. Enough is enough.

“It is time to fight for the soul of our nation. I am not here merely to recount our problems. I am here to declare that Nigeria is fixable. It is not rocket science. What we have lacked is sincere, courageous, and people-centred leadership. What happened to our refineries? What happened to Ajaokuta Steel? Why do we continue to pay thousands of workers in non-functional institutions? Why must we depend on private individuals for what government should provide?

“Corruption has become normalized. Public funds meant for national development are diverted. Absurd excuses are given for missing money, yet there are no consequences. Poverty has no tribe. Hunger has no ethnicity. Insecurity affects us all. If we fail to rescue Nigeria now, we risk becoming slaves in our own land—not chained by colonial masters, but controlled by political elites who care only for themselves. This is why I offer myself for service.

In 2022, ahead of the 2023 presidential election, I joined the Labour Party and contributed to building the LP that produced Mr. Peter Obi. I stepped down in the interest of unity. However, leadership must be measured by resilience and responsibility, especially in times of crisis. As Martin Luther King Jr. once said, “The ultimate measure of a man is not where he stands in moments of comfort, but where he stands at times of challenge and controversy.

“Nigeria needs resolute, decisive, and people-driven leadership—not desperation or recycled political coalitions. The 2027 election will be the people versus the political class. And the people’s coalition shall prevail. I will be contesting under the National Rescue Movement (NRM), symbolized by the honeybee. It is time to return Nigeria to her honey days. If given the mandate, our government will be People First. Nation First.

“We will prioritize: Restoring economic stability and strengthening the naira; Revitalizing local refining capacity and addressing energy costs; Investing massively in education—making primary and secondary education compulsory and strengthening technical and vocational training; Ensuring lecturers’ salaries are never delayed.

“Rebuilding and equipping our hospitals to world-class standards. No government official—including myself—will seek medical treatment abroad at public expense. Decentralizing and stabilizing electricity supply. Reforming and strengthening the military and police to restore law and order.

“Encouraging local manufacturing, including the use of locally produced vehicles for official purposes. We will build a nation of law and order—a nation of reward and accountability. This is a generational call—a call for a shift from recycled leadership to visionary leadership. It is not a time for convenience. It is time to rebuild Nigeria.

“Our slogan says it clearly: “A Nation That Has Everything, Yet Lacks Everything.” Together, we will change that narrative. Join me in this rescue mission. Let us combine the best of Nigerians at home and abroad to build a new Republic—one we can keep,” the statement added.

NRM Presidential Aspirant Faduri Declares 2027 Ambition, Vows To Rescue Nigeria From ‘Political Elites’

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