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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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FG Unveils Unified System to End Fragmented Aid, Accelerate Poverty Exit

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FG Unveils Unified System to End Fragmented Aid, Accelerate Poverty Exit

By: Michael Mike

The Federal Government has unveiled a sweeping reform of Nigeria’s humanitarian and poverty reduction architecture, adopting a new unified framework aimed at ending years of fragmented interventions and placing vulnerable citizens on a clear path from survival to self-reliance.

At the close of a four-day National Technical Workshop in Abuja, the Minister of Humanitarian Affairs and Poverty Reduction, Dr. Bernard Doro, announced the adoption of the One Humanitarian – One Poverty Response System (OHOPRS) as the country’s new national coordination framework for humanitarian action, social protection and poverty reduction.

Speaking during a press conference at the United Nations House in Abuja, the minister said the initiative represents a decisive shift in Nigeria’s approach to addressing poverty and humanitarian challenges.

“Today marks a defining moment in our journey towards reforming humanitarian interventions and reducing poverty at scale,” Doro told journalists and development partners.

He explained that the workshop, convened by the ministry in collaboration with international and local partners, was designed to tackle what he described as a fundamental weakness in Nigeria’s humanitarian ecosystem — the fragmentation of programmes and lack of coordination among institutions.

The minister illustrated the urgency for reform with a story shared by a field team working in Nigeria’s conflict-affected North-East.

According to him, the team encountered a mother of four who had spent three years receiving intermittent humanitarian support but remained trapped in poverty.

“She received enough food to survive the week, but never enough tools to change her life,” he said.

Quoting the woman’s words, he added: “We are always helped… but we are never moving forward.”

Doro said the story reflects a broader systemic failure in the country’s poverty response mechanisms.

“It is not that support is not reaching people,” he said. “It is that our systems are not designed to move people from survival to self-reliance.”

The minister warned that failure to reform the system would continue to waste scarce resources and leave vulnerable communities trapped in cycles of dependence.

“If a patient arrives at a hospital and ten different doctors each treat one symptom — with no shared notes, no shared diagnosis — that patient may survive the day but will never truly recover,” he said.

“Nigeria’s poor have had many doctors. What they have not had is a consultant who sees the whole person.”

To address these gaps, the government adopted the One Humanitarian – One Poverty Response System (OHOPRS), which the minister described as a national operating system rather than another standalone programme.

“OHOPRS is not another programme,” he stressed. “It is intended as a national operating system.”

The framework is designed to unify humanitarian interventions, social protection programmes and poverty reduction initiatives under a single coordination platform.

According to Doro, the new system will drive five major structural changes in how assistance is delivered across the country.

These include the transition from multiple coordination mechanisms to a single national system, the integration of several beneficiary databases into one national registry architecture, and the shift from project-based funding to a pooled financing structure with stronger accountability mechanisms.

He added that the new framework would also focus on measurable poverty exit outcomes rather than mere intervention delivery, while introducing real-time monitoring systems to strengthen transparency.

Central to the reform is what the minister described as a “Ladder of Progress”, a structured pathway designed to track the journey of every beneficiary from identification to economic resilience.

Under the system, vulnerable citizens will first be identified through the National Social Register. Their interventions will then be tracked using a Unified Beneficiary Register.

Beneficiaries will subsequently move through a Poverty Exit Pathway designed to guide them towards economic independence, after which they will be monitored through a Growth Register to ensure they remain resilient and do not relapse into poverty.

Doro emphasised that the success of the initiative will depend on the alignment of institutions across all levels of government and development partners.

He called on ministries, departments and agencies, state and local governments, development partners, the private sector, civil society organisations and non-governmental organisations to integrate their interventions into the unified national system.

“This reform requires collective commitment,” he said.

The minister also framed poverty reduction as a strategic national priority under the administration of President Bola Ahmed Tinubu, noting that addressing vulnerability is central to national stability.

“Poverty reduction is not an act of charity; it is a pillar of national security,” he said.

“We are no longer content with managing poverty. Our goal is to end it.”

He added that the government’s new approach aims to move beyond temporary relief and focus instead on long-term economic empowerment.

“We are moving from helping Nigerians survive to enabling them to thrive,” he declared.

The workshop brought together government officials, development partners, humanitarian organisations and policy experts to deliberate on the structure, financing and operationalisation of the new system.

With the adoption of the framework, the Federal Government said the next phase will focus on implementation, integration of existing programmes and nationwide alignment of humanitarian and poverty reduction interventions under the OHOPRS platform.

FG Unveils Unified System to End Fragmented Aid, Accelerate Poverty Exit

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El-Rufai’s Bereavement: Northern Christian Youths Praise Tinubu, ICPC for ‘Humanity Above Politics’

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El-Rufai’s Bereavement: Northern Christian Youths Praise Tinubu, ICPC for ‘Humanity Above Politics’

By: Michael Mike

A northern Christian youth group has praised the decision of the Independent Corrupt Practices and Other Related Offences Commission (ICPC) to allow former Kaduna State governor Nasir El-Rufai time to mourn and bury his late mother, describing the move as a reflection of the leadership style of President Bola Tinubu

In a press statement issued on Saturday, the Northern Christian Youth Professionals said the commission’s decision demonstrated compassion and respect for human dignity, values it said have continued to shape the Tinubu administration’s approach to governance.

The group noted that allowing El-Rufai to attend to family matters despite existing political disagreements with the president highlights what it called “politics without bitterness,” where humanity is placed above partisan differences.

According to the statement signed by its chairman, Isaac Abrak, the gesture sends a strong signal that leadership should be guided not only by authority and political interests but also by empathy and understanding.

“The humane decision by the ICPC reflects a leadership disposition that prioritises compassion and respect for human dignity,” Abrak said. “It shows that governance can be conducted with empathy even in the midst of political disagreements.”

The group stressed that the development was particularly noteworthy given the widely known political differences between Tinubu and El-Rufai, arguing that the decision reinforces the president’s belief that political competition should not erase shared human values.

Abrak said the move stands in contrast to earlier periods in Nigeria’s political history when leaders were accused of showing little compassion in similar circumstances.

He recalled that former president Muhammadu Buhari was reportedly not allowed to attend his mother’s burial while he was detained after the 1985 change of government led by Ibrahim Babangida, an episode that generated public criticism at the time.

“Many Nigerians viewed that situation as reflective of a rigid leadership approach that placed limited emphasis on humanity,” the statement said.

The group argued that Tinubu’s leadership has demonstrated that governance can be exercised with grace and empathy without undermining the rule of law.

It also emphasised that granting El-Rufai time to mourn does not interfere with ongoing legal processes, stressing that investigations or judicial procedures should continue after the burial in accordance with the law.

“The pursuit of justice must remain firm,” Abrak added, “but it should not come at the expense of compassion when a citizen is faced with a moment of personal loss.”

The Northern Christian Youth Professionals urged leaders and institutions across Nigeria to emulate what it described as a balanced approach that upholds both humanity and accountability.

El-Rufai’s Bereavement: Northern Christian Youths Praise Tinubu, ICPC for ‘Humanity Above Politics’

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Bangladesh Envoy Seeks Stronger Nigeria Ties, Laments Low Bilateral Trade

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Bangladesh Envoy Seeks Stronger Nigeria Ties, Laments Low Bilateral Trade

By: Michael Mike

The High Commissioner of Bangladesh to Nigeria, Miah Md. Mainul Kabir, has expressed concern over the relatively low volume of trade between the two countries, describing it as far below its actual potential despite the strong diplomatic ties that have existed for decades.

Kabir made the remarks in Abuja while addressing guests at the celebration of the 55th anniversary of Bangladesh’s Independence and National Day. He stressed that expanding economic cooperation between both countries would remain a key focus of his diplomatic mission.

According to him, although trade between Nigeria and Bangladesh has recorded gradual growth over the years, the level of commercial exchange does not reflect the enormous opportunities available to both nations.

“Bilateral trade between our two countries has grown steadily yet remains well below its true potential,” he said. “Bangladesh offers competitively priced, high-quality products in textiles and garments, pharmaceuticals, ceramics, jute goods, processed foods and ICT services, while Nigeria, with its vast market, energy resources and agricultural depth, presents significant opportunities for stronger trade relations.”

The envoy highlighted agriculture as one of the most promising areas for collaboration, pointing particularly to contract farming as a new pathway for expanding bilateral economic engagement.

He explained that Bangladesh’s experience in high-yield and climate-adaptive agricultural production could be combined with Nigeria’s vast arable land and growing agro-processing industry to boost productivity and food security in both countries.

To unlock these opportunities, Kabir said Bangladesh is now intensifying its diplomatic and economic engagement with African nations, with Nigeria occupying a strategic position in that effort.

“Bangladesh is placing renewed focus on strengthening our partnerships in Africa, particularly with Nigeria — a country of immense dynamism, influence and opportunity,” he said.

The High Commissioner noted that the two countries share long-standing cordial relations rooted in similar historical experiences, youthful populations and shared democratic aspirations.

He added that both nations have consistently worked together within major international organisations such as the United Nations, the Non-Aligned Movement, the Organisation of Islamic Cooperation, the D-8 Organization for Economic Cooperation and the Commonwealth of Nations.

According to him, the partnership between the two countries reflects a broader commitment to South–South cooperation and collective efforts by developing nations to promote shared prosperity and global development.

Beyond trade, Kabir identified several other sectors where Nigeria and Bangladesh could deepen collaboration, including education, skills development, digital innovation, technical training and defence cooperation, particularly in professional military training and peacekeeping operations.

He also emphasised the importance of people-to-people engagement, noting that stronger cultural exchanges, academic partnerships and youth cooperation would further strengthen the bond between both nations.

The envoy used the occasion to commend Bangladeshi nationals living and working in Nigeria, describing them as responsible representatives of their country abroad.

“You are exemplary ambassadors of our nation,” he said. “Your hard work and integrity contribute significantly to the economies of Bangladesh and Nigeria and strengthen the bond between our peoples.”

Kabir also reflected on Bangladesh’s development journey over the past five and a half decades, noting that the country has emerged as a significant economic force among developing nations.

According to him, Bangladesh’s nominal gross domestic product is approaching half a trillion dollars, placing the country among the 35 largest economies in the world and making it a leading example of socio-economic progress in the Global South.

In his remarks, Director of Regions at Nigeria’s Ministry of Foreign Affairs, Bukar Hamman, reaffirmed Nigeria’s commitment to strengthening bilateral relations with Bangladesh.

Hamman said both countries share a strong belief in multilateral cooperation, peacebuilding and inclusive development.

“Both our nations have contributed significantly to United Nations peace operations, demonstrating mutual dedication to global peace and security,” he said.

He noted that bilateral engagement between Nigeria and Bangladesh has continued to expand in recent years, particularly in trade, agriculture, education and defence cooperation.

Hamman also welcomed the growing presence of Bangladeshi businesses in Nigeria and encouraged deeper collaboration between private sector actors from both countries.

“There is vast potential for collaboration in textiles, pharmaceuticals, ICT and renewable energy sectors where Bangladesh has developed notable expertise,” he said.

“As we look to the future, Nigeria remains committed to strengthening our ties with Bangladesh. Enhanced cooperation between our two countries will not only benefit our peoples but also contribute to stronger South–South cooperation and global development efforts.”

He added that the celebration of Bangladesh’s independence anniversary was not only an opportunity to reflect on the country’s historical journey but also a moment to recognise its aspirations for continued peace, innovation and progress.

Hamman stressed that Nigeria values Bangladesh as a trusted partner and friend, expressing confidence that the relationship between the two nations would continue to grow stronger in the years ahead.

Bangladesh Envoy Seeks Stronger Nigeria Ties, Laments Low Bilateral Trade

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