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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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Gov. Yusuf Commends DSS Over Arrest of Suspected Gun Courier in Kano

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Gov. Yusuf Commends DSS Over Arrest of Suspected Gun Courier in Kano

By: Michael Mike

Kano State Governor, Abba Kabir Yusuf, has commended the Department of State Services (DSS) for the arrest of a suspected gun courier intercepted while allegedly transporting weapons believed to be destined for criminal elements in Katsina State.

The commendation was contained in a statement issued by the Governor’s spokesperson, Sunusi Bature Dawakin Tofa, on Thursday, June 12, 2026.

Governor Yusuf described the operation as a major breakthrough in the ongoing fight against banditry, terrorism and other violent crimes threatening communities across Northern Nigeria.

According to information provided by the DSS, the suspect, identified as Muhammad Abubakar, 30, was apprehended in Gezawa Local Government Area of Kano State while allegedly transporting four rocket-propelled grenade (RPG) tubes, three AK-47 rifles and two empty magazines to Funtua in Katsina State.

Preliminary investigations reportedly revealed that the suspect collected the weapons from an individual identified as Bello in the Maigatari border area of Jigawa State and was expected to receive N450,000 upon successful delivery of the arms.

Governor Yusuf praised the professionalism, vigilance and intelligence-driven approach of DSS operatives, noting that the timely interception prevented the weapons from falling into the hands of bandits and other criminal groups.

He said the operation underscored the critical role of intelligence gathering and effective collaboration among security agencies in tackling emerging security threats across the country.

The governor reaffirmed the commitment of the Kano State Government to supporting security agencies through sustained cooperation, logistics assistance and policies aimed at strengthening public safety throughout the state.

He also urged residents to remain vigilant and continue providing credible information to security agencies to aid efforts to combat crime and maintain peace.

Governor Yusuf expressed confidence that ongoing investigations would lead to the arrest and prosecution of all individuals connected to the alleged arms trafficking network.

The statement was signed by Sunusi Bature Dawakin Tofa, Director General, Media and Publicity, Government House, Kano.

Gov. Yusuf Commends DSS Over Arrest of Suspected Gun Courier in Kano

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June 12: Credible Elections Are a Fundamental Human Right, Not a Privilege – NHRC

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June 12: Credible Elections Are a Fundamental Human Right, Not a Privilege – NHRC

By: Michael Mike

As Nigeria marks Democracy Day, the Executive Secretary of the National Human Rights Commission, Chief Tony Ojukwu (OFR, SAN), has declared that credible elections are a fundamental human right that must be guaranteed to every citizen, rather than a privilege granted by those in power.

In a statement commemorating the significance of June 12, Ojukwu said the annulled 1993 presidential election remains the strongest evidence that Nigeria is capable of conducting free, fair, and transparent elections when democratic institutions respect the will of the people.

According to him, the electoral framework introduced by Humphrey Nwosu, particularly the Option A4 and Modified Open Ballot systems, demonstrated that electoral credibility is achievable when election management bodies operate with integrity, transparency, and strict adherence to the law.

The NHRC boss emphasized that the right of citizens to participate in governance through genuine elections is guaranteed under Nigeria’s Constitution and regional human rights instruments, stressing that electoral misconduct amounts to a direct assault on fundamental freedoms.

He noted that practices such as voter suppression, vote buying, electoral violence, and manipulation of election results should not be viewed merely as administrative shortcomings but as serious violations of civil and political rights.

Ojukwu expressed concern that more than three decades after the June 12 election, many of the challenges that undermine electoral credibility continue to persist, weakening public confidence in democratic institutions and diminishing citizens’ faith in the electoral process.

“Whenever elections lose their integrity, the rights to freedom of expression, association, participation, and peaceful assembly are also placed at risk,” he said.

The human rights advocate called on the Independent National Electoral Commission (INEC), political parties, security agencies, the judiciary, civil society organizations, and the media to remain committed to neutrality, transparency, and accountability in the conduct of elections.

He assured Nigerians that the Commission would intensify its monitoring of electoral processes across the country, document violations, and pursue appropriate remedies for victims in line with its statutory mandate.

Ojukwu also urged the National Assembly to strengthen legal safeguards that protect the independence of electoral institutions and improve citizens’ access to electoral justice.

He maintained that institutionalizing electoral integrity remains critical to deepening democracy and safeguarding the right of every Nigerian to freely choose their leaders, adding that the NHRC is prepared to collaborate with government and other stakeholders to ensure that credible elections become a permanent feature of the nation’s democratic culture.

The statement, signed by Director of Corporate Affairs and External Linkages, Fatimah Agwai Mohammed, underscored the Commission’s commitment to advancing democratic governance through the protection and promotion of electoral rights.

June 12: Credible Elections Are a Fundamental Human Right, Not a Privilege – NHRC

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ActionAid Says June 12 Democratic Promise Remains Unfulfilled Amid Poverty, Rights Violations

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ActionAid Says June 12 Democratic Promise Remains Unfulfilled Amid Poverty, Rights Violations

By: Michael Mike

As Nigerians mark Democracy Day, ActionAid Nigeria has raised concerns over what it describes as the country’s failure to fully realize the democratic ideals symbolized by June 12, warning that shrinking civic space, rising poverty, insecurity and weak governance threaten the nation’s democratic future.

In a statement issued to mark the June 12 celebration, the Country Director of ActionAid Nigeria, Andrew Mamedu, said the decision by former President Muhammadu Buhari in 2018 to recognize June 12 as Democracy Day was a significant step toward correcting the injustice surrounding the annulment of the 1993 presidential election won by Moshood Kashimawo Olawale Abiola.

According to the organisation, the declaration was more than a symbolic gesture; it represented a commitment to uphold the will of the Nigerian people and strengthen democratic governance. However, ActionAid argued that eight years later, many of the aspirations associated with that promise remain unrealized.

The organisation expressed concern over what it called a growing crackdown on civic freedoms, citing reports of arrests, prosecutions and intimidation of journalists, activists and citizens critical of government actions.

It referenced data from the National Human Rights Commission indicating that hundreds of thousands of human rights complaints were recorded in April 2026, including allegations of extrajudicial killings, abuse of authority and restrictions on freedom of expression and peaceful assembly.

ActionAid also criticized the application of the Cybercrimes Act against journalists and activists, pointing to cases involving media practitioners and civil society actors who were reportedly arrested or prosecuted after exposing governance failures or questioning official claims.

The group further warned that Nigeria’s electoral system faces significant challenges ahead of the 2027 general elections. It argued that the Electoral Act 2026 was enacted without sufficient stakeholder consultation and called for urgent amendments to strengthen public confidence in the electoral process.

According to the organisation, preserving electoral credibility is essential to avoiding a repeat of the political crisis that followed the annulment of the June 12, 1993 election.

Beyond electoral concerns, ActionAid raised alarm over worsening socio-economic conditions, noting that millions of Nigerians continue to struggle with poverty despite decades of democratic rule.

The organisation cited statistics showing that more than 130 million Nigerians live in multidimensional poverty, while insecurity, including banditry, kidnapping and armed conflict, continues to disrupt livelihoods across many communities.

It argued that poverty and insecurity are interconnected challenges stemming from governance failures, weak institutions and limited accountability.

ActionAid also criticized what it described as weak fiscal transparency, alleging that the concurrent implementation of multiple federal budgets has undermined effective oversight and accountability in public spending.

The organisation maintained that these governance shortcomings have contributed to Nigeria’s poor performance in global assessments of government effectiveness.

To address the challenges, ActionAid called on the Federal Government and the National Assembly to undertake comprehensive reforms, including amendments to the Electoral Act, protection of civic freedoms, improved security measures, strengthened social protection programmes and greater transparency in public finance management.

Mamedu stressed that Democracy Day should serve as more than a ceremonial event, urging leaders to take concrete actions that reflect the aspirations of Nigerians for accountable governance, justice and inclusive development.

He said that while recognizing June 12 was an important milestone, the true measure of that decision lies in the government’s commitment to protecting democratic institutions, expanding civic freedoms and improving the welfare of citizens.

ActionAid pledged to continue working with communities and civil society organizations across the country to promote accountability and ensure that the democratic ideals associated with June 12 are translated into tangible benefits for Nigerians.

ActionAid Says June 12 Democratic Promise Remains Unfulfilled Amid Poverty, Rights Violations

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