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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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Israel Accuses Iran of Terror Links, Cites Activities in Nigeria

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Israel Accuses Iran of Terror Links, Cites Activities in Nigeria

By: Michael Mike

The Embassy of Israel in Nigeria has accused Iran of sponsoring terrorism across the globe and backing militant networks, including alleged links to activities in Nigeria.

In a statement issued in Abuja, the Israeli mission challenged recent remarks by Iran’s envoy to Nigeria denying Tehran’s involvement in terrorism, insisting that evidence accumulated over the years contradicts such claims.

The embassy said Iran has long been identified by several governments and security agencies as a major state sponsor of terrorism, accusing the country of providing funding, weapons, training and strategic guidance to militant groups such as Hamas, Hezbollah and the Houthi movement.

According to the statement issued on Monday, these groups have carried out attacks against civilians and contributed to instability in several parts of the world, particularly in the Middle East.

The embassy further alleged that Iranian-backed operatives and networks have been linked to attacks and plots in different countries, including Argentina, Bulgaria, Australia and the United Kingdom.

Highlighting developments in the Middle East, the mission said Iranian leaders publicly praised the October 7 attacks carried out by Hamas against Israeli civilians and encouraged further violence against Israel.

The embassy also pointed to past incidents in Nigeria which it said suggested Iranian-linked activities within the country.

It recalled that in 2010, Nigerian authorities intercepted a shipment of weapons originating from Iran at Apapa Port in Lagos, concealed in containers allegedly destined for militant groups in West Africa.

The statement also referenced a 2013 operation by Nigerian security agencies in which a Hezbollah-linked cell and weapons cache were uncovered, leading to arrests in Abuja and Kano. Authorities at the time said the weapons were intended for attacks against Israeli and Western interests in Nigeria.

Israel’s Ambassador to Nigeria, Michael Freeman, said Iran’s repeated denials could not erase what he described as a documented history of support for militant organisations.

“The Iranian regime can make as many statements as they like and appear on as many television channels as they want. But facts speak louder than words. The reality is that Iran is the world’s largest sponsor of terrorism and has backed the Islamic Movement of Nigeria for years,” he said.

The embassy said it considered it necessary to challenge what it described as misinformation, stressing that terrorism remains a major threat to global peace and stability, including in Nigeria.

Israel Accuses Iran of Terror Links, Cites Activities in Nigeria

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NSCDC Warns Contractors Over Damage to Fibre Optic Cables in Abuja

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NSCDC Warns Contractors Over Damage to Fibre Optic Cables in Abuja

By: Michael Mike

The Nigeria Security and Civil Defence Corps (NSCDC) has issued a strong warning to construction companies and contractors operating in the Federal Capital Territory, cautioning them to stop damaging underground fibre-optic cables during excavation works or face prosecution.

The warning was issued by the FCT Commandant of the Corps, Olusola Odumosu, who expressed concern over the growing cases of fibre-optic cable destruction across Abuja due to negligence and poor planning by construction firms.

Odumosu said the increasing damage to the communication infrastructure has led to repeated disruption of internet services, banking operations, telecommunications networks and other critical government and commercial activities.

According to him, the destruction of fibre-optic cables constitutes a serious national security risk and undermines economic activities in the country.

He explained that under the Designation and Protection of Critical National Information Infrastructure Order 2024, telecommunications infrastructure, including fibre-optic cables, has been classified as Critical National Information Infrastructure, making any deliberate or negligent damage a punishable offence.

The Commandant noted that the Corps derives its powers from the Nigeria Security and Civil Defence Corps Act 2003 (as amended in 2007), which empowers it to protect national assets, maintain round-the-clock surveillance on critical infrastructure and prosecute offenders involved in vandalism and sabotage.

He added that the law authorises the Corps to arrest, detain and investigate individuals or organisations responsible for damaging public utilities such as communication cables, power transmission lines, pipelines and other strategic facilities.

Odumosu disclosed that in line with directives from the Office of the National Security Adviser, contractors must verify the presence of underground utilities before commencing excavation or drilling in the FCT.

He directed all construction firms to liaise with telecommunication service providers, the NSCDC and relevant authorities before carrying out digging or drilling activities, stressing that ignorance of the presence of fibre-optic cables will not be accepted as a defence.

The NSCDC boss further warned that the Corps would not tolerate vandalism or interference with critical national assets such as power installations, oil and gas pipelines, rail infrastructure, water facilities, communication masts and government buildings.

He said offenders—whether individuals, companies or government contractors—would face prosecution under existing laws, including the Cybercrimes (Prohibition, Prevention, etc.) Act 2015 and other relevant legislation protecting national infrastructure.

Odumosu assured residents that the NSCDC remains committed to safeguarding critical national assets across the capital territory and urged contractors to strictly comply with verification procedures before undertaking civil works.

He also called on members of the public, professional bodies and project managers to report suspicious excavation activities or vandalism of public infrastructure to the nearest NSCDC formation for prompt response.

The Commandant reiterated the Corps’ zero-tolerance for vandalism, urging organisations and stakeholders to collaborate with the agency to protect public utilities and ensure sustainable economic growth.

NSCDC Warns Contractors Over Damage to Fibre Optic Cables in Abuja

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FG, World Bank Move to Restore Degraded Northern Landscapes with Nine Catchment Plans

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FG, World Bank Move to Restore Degraded Northern Landscapes with Nine Catchment Plans

By: Michael Mike

The Federal Government, in partnership with the World Bank, has commenced the appraisal and validation of nine Strategic Catchment Management Plans (SCMPs) aimed at tackling desertification, land degradation and water scarcity across Northern Nigeria and the Federal Capital Territory.

The initiative is being implemented under the Agro-Climatic Resilience in Semi-Arid Landscapes Project (ACReSAL), a climate resilience programme led by the Federal Ministry of Environment with support from the World Bank.

The validation workshop, holding in Abuja, is bringing together federal and state agencies, technical experts, and community representatives to review the plans and ensure they are inclusive, practical and capable of improving livelihoods while restoring degraded landscapes.

Speaking at the event, Nigeria’s Minister of Environment, Balarabe Abbas Lawal, warned that environmental degradation in Northern Nigeria has reached alarming levels, threatening food security and the stability of rural communities.

According to him, millions of people in the 19 northern states and the FCT are already facing harsh environmental realities such as advancing deserts, irregular rainfall patterns, shrinking water bodies and declining farmland productivity.

“These are not abstract problems. They threaten the food on our tables, the income of our farmers and herders, and the stability of our communities,” the minister said.

Lawal explained that the ACReSAL project represents Nigeria’s strategic response to the growing environmental crisis, with the Federal Ministry of Environment working closely with the Federal Ministry of Water Resources and Sanitation and the Federal Ministry of Agriculture and Food Security to restore degraded landscapes and promote sustainable management of natural resources.

He noted that the Strategic Catchment Management Plans form the backbone of the intervention, providing a coordinated roadmap for identifying priority environmental hotspots, mobilising resources and aligning actions across multiple sectors.

Representing the Minister of Water Resources and Sanitation, Joseph Terlumun Utsev, the Director of Hydrology, Abohwo Ngozi, said the workshop would review the final nine catchment management plans developed under the ACReSAL framework.

She stressed that the plans are essential for improving integrated water and land management while addressing the growing environmental challenges facing communities across Northern Nigeria.

Ngozi warned that desert encroachment, degraded farmlands and unpredictable rainfall patterns are already threatening agricultural productivity and the livelihoods of millions of farmers and pastoralists.

National Coordinator of ACReSAL, Abdulhamid Umar, represented by Shettima Adams, said the nine plans are designed to guide targeted interventions in semi-arid landscapes to ensure sustainable water and land management.

He listed the catchments covered by the plans as Malenda, Oshin-Oyi, Gurara-Gbako, Aloma-Konshisha, Benue-Mada, Sarkin-Pawa-Kaduna, Zungur-Gongola, Gaji-Lamurde and Hawul-Kilange.

According to him, the catchment areas cut across several states including Adamawa, Bauchi, Benue, Borno, Gombe, Kaduna, Kano, Katsina, Kebbi, Kogi, Kwara, Nasarawa, Niger, Plateau, Taraba, Yobe and Zamfara, as well as the FCT.

Umar explained that the plans were developed through extensive consultations with local communities and stakeholders, ensuring that they capture real environmental challenges such as deforestation, soil erosion, shrinking water sources and overgrazing.

FG, World Bank Move to Restore Degraded Northern Landscapes with Nine Catchment Plans

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