News
POS dealers ATM make brisk businesses in Borno and Yobe state due to scarcity of naira notes
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
News
Troops arrest gunrunner, recover arms, ammunition in Plateau
Troops arrest gunrunner, recover arms, ammunition in Plateau
By: Zagazola Makama
Troops of 3 Division of the Nigerian Army under Operation Joint Task Force, Operation Enduring Peace (OP Enduring Peace), have arrested a suspected gunrunner and recovered arms and ammunition in Bokkos and Mangu Local Government Areas of Plateau State.
The operations, conducted on Thursday, were part of ongoing efforts to mop up illicit arms and ensure a peaceful yuletide season within the Joint Operations Area, military sources said.

In the early hours of the day, troops, in conjunction with operatives of the Department of State Services (DSS), raided a suspected criminal hideout at Gwender Village in Bokkos Local Government Area, following intelligence reports.
Although the suspects reportedly fled before the arrival of the troops, a search of the hideout led to the recovery of one fabricated AK-47 rifle with a magazine, one fabricated pistol and several rounds of ammunition of different calibres.
In a related operation, troops working with a DSS Tactical Team mounted a snap checkpoint at Mairana in Mangu Local Government Area, based on credible intelligence.
During the operation, a Fulani youth was intercepted and arrested while in possession of two boxes of ammunition containing 1,400 rounds of 7.62mm special ammunition.
The suspect and the recovered items are currently in custody for further investigation, while troops have intensified follow-up operations to apprehend other members of the suspected criminal syndicate.
The military reiterated its commitment to sustaining pressure on criminal elements to ensure peace and security across Plateau State and the wider Joint Operations Area.
Troops arrest gunrunner, recover arms, ammunition in Plateau
News
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
By: Our Reporter
Borno State Governor, Prof. Babagana Umara Zulum, has launched an empowerment package worth N1,000,000,000 targeting thousands of young residents, mostly GSM repairers and technicians.
The initiative targets 1,050 youths who will be trained on phone repairs and maintenance; about 3,000 other apprentices will receive cash.

Each of them will receive a complete set of modern working tools, including an 852D hot air rework station, a separating machine Kc2025, a battery booster S2025 pro, an adjustable temperature soldering iron V900c, a digital multimeter DT9205Plus and a precision screw driver set 60 in 1, to enhance their own repair businesses.
In addition to the tools, all 1,050 GSM repair trainees will receive direct cash support to serve as seed capital for their ventures.
The disbursement comprises four categories: the first group, consisting of 26 beneficiaries each receiving N1 million; the second group, 189 beneficiaries each receiving N300,000; the third group, 835 beneficiaries each receiving N100,000; and the fourth category, 3,500 apprentices, each receiving N100,000 and different calibres of working tools. The training cost is N482 million.

Speaking during the launching ceremony, Zulum said: “It gives me immense pleasure and a deep sense of fulfilment to stand before you today on this historic occasion—the official launch of the disbursement of N1 billion empowerment scheme alongside the training of operators at the GSM Market here in Maiduguri.”
The governor also recalled several initiatives by his administration on investment in human capital development.
He said, “Only recently, this administration took a bold and visionary step by sponsoring two hundred youths to study aircraft piloting and aeronautic engineering at Isaac Balami University.
“This initiative is designed to place Borno State on the global aviation map and demonstrate that, despite our challenges, we are preparing our youths for world-class opportunities. The process is almost completed.

“So far so good, about 400 Borno state indigenes are pursuing PhDs and master’s degrees abroad. In addition, 100 of our youths are currently studying Medicine and related courses in China.”
The occasion was attended by the senator representing Borno Central, Barrister Kaka Shehu Lawan; members of the House of Representatives; the deputy speaker of the Borno State House of Assembly, Engr Abdullahi Askira; commissioners and senior government officials.
Zulum disburses N1bn, trains 1,050 youths on GSM repairs
News
COAS commissions AHOOAS estate, shopping complex in Ibadan, reaffirms soldier-first welfare policy
COAS commissions AHOOAS estate, shopping complex in Ibadan, reaffirms soldier-first welfare policy
By: Zagazola Makama
The Chief of Army Staff (COAS), Lt.-Gen. Waidi Shaibu, on Friday commissioned the Affordable Home Ownership Option for All Soldiers (AHOOAS) estate and a Post-Service Housing Development Limited (PHDL) shopping complex in Ibadan, Oyo State, reaffirming the Nigerian Army’s commitment to a soldier-first welfare policy.
Shaibu said the projects were part of deliberate efforts to address the post-service housing needs of personnel and improve their overall quality of life, describing access to decent housing as a critical component of troop welfare.
The event was attended by the Special Guest of Honour, the Executive Governor of Oyo State, represented by the Commissioner for Lands and Urban Development, Mr William Akinfumilayo; the Royal Father of the Day, Oba Rashidi Adeolu Ladoja; Principal Staff Officers from Army Headquarters; senior serving and retired officers; partners of the project; members of the Nigerian Army Officers’ Wives Association and the Soldiers’ Wives Association, as well as members of the press.
The COAS said the AHOOAS scheme was conceived to enable serving soldiers to acquire affordable and decent homes in locations of their choice, which they could comfortably retire into after years of service to the nation.
“This project is a clear demonstration of our resolve to place the welfare of the Nigerian soldier at the centre of our policies and actions. A soldier who is assured of his future is better motivated to give his best in the defence of the nation,” he said.
He recalled that the pilot phase of the AHOOAS project in Idu, Abuja, delivered over 400 housing units now fully occupied by soldiers and their families, adding that the Ibadan project was part of the expansion of the scheme to other parts of the country.
Shaibu disclosed that similar projects were at various stages of completion in Benin, Jos and Abuja, while plans were also underway to fast-track home ownership for the Warrant Officers’ cadre of the Nigerian Army.
He paid tribute to the late former Chief of Army Staff, Lt.-Gen. Taoreed Lagbaja, for initiating the housing scheme, and assured that the current leadership would continue to build on the foundation he laid.
The COAS also commended the Oyo State Government for its support to military formations in the state and urged other state governments to key into the initiative by allocating land for the scheme in their respective states.
According to him, the commissioning of the PHDL shopping complex in Eleyele, Ibadan, would complement the housing estate by providing essential services, supporting small businesses and contributing to the local economy.
Shaibu expressed appreciation to the management of PHDL and partner organisations for their professionalism in delivering the projects, noting that the Nigerian Army remained open to credible public-private partnerships that would enhance personnel welfare.
He further thanked President Bola Ahmed Tinubu, GCFR, for his continued support to the Armed Forces, reaffirming the Army’s commitment to actualising the President’s vision of a secure and prosperous Nigeria.
The COAS assured residents of Oyo State of the Nigerian Army’s sustained cooperation with civil authorities in promoting peace and security across the state and the country at large.
Earlier speaking at the ceremony, the Managing Director of PHDL, Maj.-Gen. I.A. Allison, said the philosophy of the COAS was firmly anchored on welfare, noting that home ownership remained one of the most critical assurances a soldier could have after years of service to the nation.

“There cannot be a better welfare than a house a home into which a soldier is sure he will retire,” he said.
He recalled that the first phase of the AHOOAS project was commissioned at Idu, Abuja, on Dec. 18, 2024, with 400 housing units, describing the Akobo project as a continuation of that vision exactly one year later.
The Post-Service Housing Development Limited (PHDL) managing director acknowledged the contributions of his predecessors, Maj.-Gen. Titus Umeri (rtd) and Maj.-Gen. J.T. Omali (rtd), saying he had built on their achievements since assuming office.

He disclosed that following his initial briefing of the COAS, approvals were granted for concurrent construction across multiple locations nationwide. “As I speak, aside from Akobo, we have 80 housing units under construction in Jos, 60 completed here, 40 completed in Benin, and 120 units nearing completion at Idu as Phase Two,” Allison said.
He added that the Akobo estate comprised 30 units of two-bedroom apartments for junior non-commissioned officers and 30 units of three-bedroom apartments for senior non-commissioned officers.
According to him, five per cent of the houses would be allocated free of charge to soldiers who were badly wounded in battle or suffered severe trauma during operations.
To ensure balanced communities, Allison said 25 per cent of the houses would be allocated to civilians at discounted rates, while 70 per cent would be reserved for soldiers at highly subsidised prices. “When a house built at N30 million is sold for N7.5 million, or one built at N50 million is sold for N8.5 million, then it is clear that this is a genuine welfare programme,” he said.
He further disclosed that commercial developments were being undertaken alongside the housing scheme, including 22 shops in Ibadan, a completed shopping complex with over 120 shops in Abuja awaiting commissioning, and another complex of over 50 shops under construction in Warri, expected to be completed in the first quarter of 2026. Allison also commended partners supporting the initiative.

He said Family Homes Funds Limited had constructed 50 two-bedroom houses to be donated to widows of fallen soldiers, adding that the formal handover would take place before Jan. 15, 2026, to coincide with activities marking Armed Forces Remembrance Day.
The PHDL MD expressed appreciation to the Chief of Army Staff, the Oyo State Government, the Royal Father of the Day and all guests for witnessing the commissioning of the AHOOAS project, describing it as another milestone in the Nigerian Army’s welfare drive.
COAS commissions AHOOAS estate, shopping complex in Ibadan, reaffirms soldier-first welfare policy
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