Connect with us

News

POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes

Published

on

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

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Gates Foundation Promises Continued Committed to Revitalization of Public Healthcare In Nigeria

Published

on

Gates Foundation Promises Continued Committed to Revitalization of Public Healthcare In Nigeria

By: Michael Mike

The Gates Foundation has expressed its full commitment to the development of Primary Healthcare Centres (PHC) in the country.

The commitment was expressed by The Deputy Director, Health Systems Strengthening at Gates Foundation Nigeria,
Dr. Nkata Chuku, during the PHC Leadership Challenge in Abuja, put together by the Nigeria Governors Forum (NGF), Gates Foundation and other development partners.

Chuku said the Foundation remains fully aligned with the government of Nigeria’s determination to revitalize primary health care.

The National Primary Health Care Development Agency (NPHCDA) and development partners, including UNICEF and the World Health Organisation (WHO) supported the event.

He also noted that the 2025 performance landscape emerging from national surveys, high-frequency monitoring, and administrative data shows both progress and gaps in the country’s health systems.

According to him, routine immunization continues its upward trajectory, with national percentage coverage now in the high-60s, and several states crossing 75%, compared to the low-60s in 2022.

He said between July 2024 and October 2025, more than 500,000 previously zero-dose children were reached with vaccines through house-to-house outreach and targeted immunization activities.

Chuku said this represents about 24% of the estimated 2.1 million zero-dose children nationwide, reflecting significant progress through integrated campaigns including the October 2025 polio–routine immunization drive.

According to him, there is a notable decline in cVPV2 cases, dropping from triple-digit cases in 2022–2023 to fewer than 50 confirmed cases in the last 12 months and a significant closure of immunity gaps in historically weak LGAs.

About the PHC Challenge, Chuku said: “The PHC Challenge Fund is designed to accelerate precisely this type of progress. The Gates Foundation has invested $27 million, with 70% dedicated to performance awards over the past four years to fund this initiative as proof of concept.

“The current award structure of one national winner and additional awards for the best and second runners up states across all six geopolitical zones is intentional. It reflects your stated preference for peer accountability and healthy competition, recognizing that states within the same zone often face similar health-system realities.

“Over the past three years: UNICEF, NPHCDA, and the NGF Secretariat have worked closely with Commissioners, SPHCDA Executive Secretaries, and Governors to continuously refine and track a lean but powerful set of indicators to measure the health of the PHC system across the 36+1 states.

He said: “These indicators focus on areas where state leadership is decisive: political leadership, community empowerment, financial resource allocation, quality of care, monitoring and evaluation, sustainable PHC financing. These system inputs are critical for driving impact across routine immunization, MNCH, malaria, and nutrition.”

He also said the ongoing PHC revitalization agenda has renewed political commitment at state level, adding that more states now have dedicated PHC budget lines and are expanding health insurance enrolment while the integrated polio–RI campaign offers a unified delivery platform to rapidly close immunity gaps.

According to him, development partners have signalled interest in expanding the pool of incentives for high-performing states.

The minister of health, Muhammad Ali Pate, during the occasion lauded Gates Foundation for their investment in PHC revitalisation in the country.

He said government have been intervening to lower the cost of drugs, cost of medical treatment, child health insurance and would still increase the budget for health.

Pate said: “ If we are going to see good health, it is an investment. We cannot expect good health at a very low price. Someone has invested, and here, who is going to be in charge is going to have to invest in health. And investing in health has several multilayers. First, it is a good investment not only for the present and also for the future of the country.

“So, we need to not only invest in health but also see the health system and the environment as a whole. So, government has been intervening to lower the cost of drugs, cost of medical treatment, child health insurance, but it is not going to be able to succeed just like that already.”

During the award ceremony, Yobe State emerged the overall winner of the PHC Leadership Challenge, outperforming other states in an independently verified assessment and wining the total sum of $1.2m.

The assessment measures governance, financing, service delivery and accountability within PHC systems.

The annual challenge, which rewards measurable improvements in state-level PHC performance, aims to strengthen accountability, peer learning and sustained political commitment to PHC reforms across Nigeria

Gates Foundation Promises Continued Committed to Revitalization of Public Healthcare In Nigeria

Continue Reading

News

Foundation donates food to 500 women in Abuja

Published

on

Foundation donates food to 500 women in Abuja

By: Michael Mike

Walkiya Humanitarian Foundation has stepped in to provide relief for vulnerable residents of the Federal Capital Territory, distributing food items to 500 women in the Jikwoyi area of Karu, Abuja.

The outreach, which took place on Saturday, formed part of the foundation’s annual humanitarian intervention aimed at cushioning the effects of rising food costs and helping households struggling to meet basic nutritional needs.

Addressing beneficiaries at the event, the Executive Director of the foundation, Dr. Dominic Egwuda, explained that the initiative was designed to reach individuals facing immediate food insecurity, particularly women who often shoulder the responsibility of feeding their families.

He explained that the food distribution exercise is part of the corporate social responsibility of the Walkiya Group of Companies, implemented through the Walkiya Humanitarian Foundation to support vulnerable citizens amid economic hardship.

He said: “This is a part of our social corporate responsibility of Walkiya Group of Company, which we operate under the umbrella of Walkiya Humanitarian Foundation.”

Egwuda stressed that beneficiaries were carefully selected across religious, ethnic and social lines, with the sole criterion being the inability to afford basic meals, in order to ensure inclusiveness and fairness.

“We needed people who cannot afford their next meal,people we have carefully selected from all cross of lives, Christian, Muslim, different tribes.”

He noted that women were prioritised because they bear the greatest burden of hunger within families, adding that empowering women directly has a wider societal impact.

“A woman is the one that bears the brunt of hunger in the family. And in doing this, if you empower a woman, you empower a nation.”

Egwuda further explained that the programme follows a transparent card-based selection process, excludes staff and their relatives, and is fully funded by the Walkiya Group of Companies, without government sponsorship.

“I don’t think any of our staff have anybody here because we stopped them ,we are not in partnership with any government. It is a welfare group of company that sponsored this program.”

He called on government to prioritise the welfare of the less privileged and to create an enabling framework that encourages more corporate organisations to invest in social responsibility initiatives.

“The government should look into the less privileged, create an enabling environment for people to do more social corporate responsibility.”

Egwuda disclosed that the food distribution exercise, which took about six months of planning and expanded from an initial target of 200 beneficiaries to 500, was valued at approximately four to five million naira.

“Estimatingly, we spent about four to five million naira to make sure that this thing goes round.”

Some of the beneficiaries described the gesture as timely and impactful. Janet Kalu said the food items would provide much-needed support for her household, especially during the festive period.

“This support came at the right time for my family, especially now that prices of food items are very high. The food we received will really help us during this festive period,” she said.

Another beneficiary, Amaka Emmanuel, expressed appreciation to the foundation, noting that the assistance would reduce the burden of providing daily meals for her family.

“I am very grateful to the foundation for this kind gesture. The food items will go a long way in supporting my family and easing our daily struggles,” she said.

She also offered prayers for the donors, asking for divine reward and replenishment of their resources.

“May God Almighty bless the people who made this possible and replenish whatever they have spent. I pray that God will reward them abundantly,” she added.

The foundation, in a message to stakeholders, called on government and the private sector to strengthen collaboration in addressing hunger and social welfare challenges.

“With stronger partnerships between government and corporate organisations, we can reach more vulnerable people and significantly reduce hunger and hardship in our communities,” the foundation stated.

Foundation donates food to 500 women in Abuja

Continue Reading

News

VP SHETTIMA AT EXECUTIVE COURSE 47 GRADUATION: President Tinubu Poised To Remodel NIPSS Into Digitally Driven, Global Centre Of Excellence

Published

on

VP SHETTIMA AT EXECUTIVE COURSE 47 GRADUATION: President Tinubu Poised To Remodel NIPSS Into Digitally Driven, Global Centre Of Excellence

  • Says institute’s research outputs will be fully integrated into national decision making, execution frameworks

By: Our Reporter

The Vice President, Senator Kashim Shettima, has reaffirmed the resolve of the administration of President Bola Ahmed Tinubu to remodel the National Institute for Policy and Strategic Studies (NIPSS) into a globally recognised centre of excellence that is digitally driven and financially stable by 2030.

According to him, apart from serving as the most strategic platform for developing thinkers, reformers, and innovators in Nigeria, the institute’s Senior Executive Course represents a deliberate investment in the nation’s future leadership as well as a meeting point for ideas that define policy, guide reform, and influence the course of national development.

Senator Shettima stated this on Saturday when he represented President Tinubu at the Graduation Ceremony of Senior Executive Course 47 of NIPSS in Kuru, Plateau State.

“His Excellency, President Bola Ahmed Tinubu, has been unequivocal in his commitment to supporting NIPSS in its transformation agenda, particularly its ambition to become a digitally driven, financially stable, and globally recognised centre of excellence by 2030.

“We recognise the Institute’s critical role in shaping national policy and in building the leadership capacity required to navigate an increasingly complex world,” he declared.

The Vice President noted that the support the Tinubu administration is giving to transform the institute exceeds funding, infrastructure and conducive research environment.

He said, “Our support must therefore go beyond funding, infrastructure, and a conducive research environment. It must ensure that NIPSS produces implementation ready policy papers and that its outputs are fully integrated into national decision making and execution frameworks.”

VP Shettima applauded the theme of the Senior Executive Course 47, “Blue Economy and Sustainable Development in Nigeria,” saying it is a reflection of the urgency with remarkable clarity, and “captures the reality that development, security, environmental stewardship, and social inclusion are inseparable.”

He however observed that the strength of the academic work does not depend only on its academic depth, “but in its insistence that policy must be practical, implementable, and firmly grounded in Nigeria’s realities.”

Commending the graduands, the VP said “We are grateful for your sustained and rigorous enquiries into the affairs of the maritime domain, enquiries that continue to provide the nation with insights it depends upon.

“Your latest research makes it clear that securing Nigeria’s waterways, coastlines, and inland communities goes far beyond safety alone. It speaks to livelihoods, food security, environmental protection, and national cohesion. When young people have productive work, when communities trust the state, and when institutions coordinate effectively, insecurity loses its oxygen.”

Assuring that the Tinubu administration takes evidence based policymaking very seriously, the Vice President said he had already directed relevant ministries, departments, and agencies to give the report and recommendations of the graduands the close attention they deserve, both for immediate application and for long term strategic planning.”

He thanked the Director General, Prof. Ayo Omotayo, the management and staff of NIPSS, for what he described as their dedication, professionalism, and unflicnhing commitment, which he said has continued “to uphold NIPSS as the nation’s foremost centre for strategic thought and leadership development.”

The VP also hailed Plateau State Governor Caleb Mutfwang and people of the state for continuing to support NIPSS by sustaining the peaceful environment that has enabled the “Institute to function as a true national asset.”

Earlier, Governor Mutfwang applauded the Federal Government’s support to the institute, particularly in facilitating the hitch-free completion of its academic programmes as well as the execution of its other strategic projects and mandate.

Underscoring the importance of academic programmes at the institution, Governor Mutfwang noted that Nigeria stands to benefit immensely from the research output of the institution, particularly in broadening governance perspective and making valuable recommendations in addressing security across the country.

On his part, Chairman of the NIPSS Board, Senator Ken Nnamani, said the pathways to addressing some of the nation’s challenges can be found in the research reports of research institutions across the country, urging authorities at the national and subnational levels to adopt products of the institute.

While charging members of the SEC 47 to be worthy ambassadors of the institution, Senator Nnamani expressed confidence in the commitment of the Tinubu administration to continue to support research endeavours at NIPSS, and implement key research findings of academic institutions across the country, including NIPSS.

In his welcome address, the Director General of NIPSS, Prof. Omotayo, said the Vice President’s presence at the SEC 47 graduation ceremony underscores the Federal Government’s recognition of the institute as the premier research institute for the advancement of Nigeria’s policy and governance framework.

Reeling out some of the institute’s achievements anchored on its 5-year strategic plan, Prof. Omotayo said NIPSS has completed key institutional research endeavours in collaboration with international partners in key areas, including crisis anticipation and adaptive governance.

The DG said with the achievements, NIPSS has established itself as the premier institute for policy research aimed at rebuilding public trust and addressing emerging societal challenges.

In a goodwill message, the President of the NIPSS Alumni (AANI), Amb. Emmanuel Okafor, thanked the Vice President for his relentless support to the institute and acknowledged all of the transformative projects executed under the present management of the institute.

On his part, the Monitor-General of the Course 47, Col. Muhktar Sani Daroda, said the rigour and intensity of the programme has shaped and prepared the course participants for tasks across different sectors, even as he pledged their rededicated commitment and service to the nation.

Highpoint of the occasion was the formal presentation of certificates to the graduands by the Vice President and their induction into the Alumni Association of the National Institute (AANI).

Earlier on arrival at the institute, the Vice President inaugurated 4 units of 2-bedroom apartment built and donated to the institute by the SEC 47 participants.

Meanwhile, Senator Shettima has held an interaction with strawberry farmers in Plateau State, in furtherance to efforts by the Federal Government to support the production of fruits in the state.

He said the administration of President Bola Ahmed Tinubu remains committed to transforming all segments of Nigeria’s agricultural value chain.

VP SHETTIMA AT EXECUTIVE COURSE 47 GRADUATION: President Tinubu Poised To Remodel NIPSS Into Digitally Driven, Global Centre Of Excellence

Continue Reading

Trending

Verified by MonsterInsights