Naira scarcity: More banks close branches in major cities - Newstrends
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Naira scarcity: More banks close branches in major cities

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Relief is far for cash-strapped Nigerians as more banks shut their branches yesterday.

The banks hinged their actions on lack of cash and safety, it was learnt.
Banks like Zenith, Sterling and Fidelity have had some of their branches in Lagos, Ibadan, Abeokuta and Benin shut for three days after being stormed by angry customers.

Two Tier-1 banks in Lagos left notes at their banking premises indicating they had server challenges.

Nigerians have for some days been restive due to the Central Bank of Nigeria (CBN) naira redesign policy that has made both the old and new naira notes scarce.

The situation is made worse by severe challenges in carrying out transactions online due to poor connectivity.

In many of the banks’ branches on Victoria Island, Lekki and Folomo axis of Lagos, security men were given clear instructions not to allow any customer demanding cash transactions into the banking halls.

Only customers needing interbank or intra-bank transfers, ATM activation, new account opening, and forex transactions, among others, were allowed into the halls.

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An official of FirstBank Lekki Phase 1 said: “We do not have the cash to pay anyone. We were told not to dispense cash at all. That’s the instruction the bank gave us.”

But the official did not say if it was the CBN or First Bank authorities that gave the instruction

Inside the banking halls, many customers queued to activate their ATM cards and also carry out e-payment transactions.

One of the customers in her early 60s, of the First Bank Lekki Phase 1 branch, who was turned back, said: “We are now prisoners in our own country. I cannot believe that a bank I have been its customer for over 40 years is denying me entry. It is very sad.”

At the Awolowo Road branch of GTBank, Lotus Bank, and Standard Chartered Bank, which had one ATM point dispensing cash, there were over 4,000 customers in line to make cash withdrawals.

A customer, Michael Otu, said he lives at Obalande, but was told that the three banks’ ATMs were dispensing cash.

“I was told by one of my friends that the three banks’ ATMs were dispensing cash. I had to rush to see if I can get cash to settle some obligations,” he said.

Aside from no cash transactions in many of the banks’ branches, several other branches were not open for business.

Fidelity Bank Ibeju-Lekki branch has not opened for the past two days. A customer told The Nation yesterday that she nearly slept there on Wednesday.

“The ATMs are not dispensing cash; the banks are also not open for business. How can I access my funds to meet my obligations to my family?” she asked.

When contacted, the security man at the bank said the branch did not open because of server issues.

The Dopemu Branch of Sterling Bank near Iyana Ipaja was shut to customers, some of who turned up as early as 7am.

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The customers, who were given numbers, waited in vain for the ATM to be loaded with cash. As of 2pm when our reporter left the branch, none of the two ATMs was dispensing cash.

Some of the customers, who had already waited for over seven hours despite the scorching sun, said they had no choice and would continue waiting.

The UBA branch on Fatai Atere in Matori, Lagos, though open, did not pay either over the counter or via ATM.

The plight of residents of Ondo State was made worse by the fact that ATMs did not dispense cash.

Although the banks, especially along Oba Adesida Road and at Alagbaka, were shut, many customers waited beyond 6pm in the hope that luck might still smile on them.

One of the customers, who gave his name as Jimoh, said he was at one of the banks as early as 7:30 am.

Jimoh said security personnel informed him that the banks were shut due to fear of attacks.

In Ikare-Akoko, Akoko Northeast Local Government area, the situation was the same.

Ikare-Akoko serves as the commercial nerve of the four local government areas in Akokoland.

Farmers and traders who were in Ikare for banking transactions from distant places like Ikakumo Afin Ipesi Igasi and Eriall were disappointed.

A businessman, Sunday Omogboye, who came from Ikakumo to withdraw money, said many people were suffering in the villages due to a lack of cash.

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The situation was a little different in Abuja where most banks opened their branches to customers. Only Zenith had many branches still locked.

Three things were, however, common among the bank branches: They paid out mostly mutilated old notes in the banking halls and closed before the official time.

When The Nation visited the Wema Bank branch in the Central Business District, a large but orderly crowd was seen making withdrawals of old notes from its ATMs.

In the banking hall, customers were paid N3,000 only over the counter in dirty N50 denominations.

At the Stanbic IBTC branch in the area, the ATMs were down but customers were allowed freely in the banking hall where they had a rare opportunity to withdraw as much as N25,000 in mutilated N50 notes.

At Garki Areas 7 and 8, the banks all had their fair share of crowds at the ATMs while the banking halls had few crowds transacting over the counter.

In Ibadan, Oyo State, banks did not work to their full capacity due to the scarcity of the new naira notes.

At the Sterling Bank branch in Agodi, Ibadan, all customers were allowed into the banking hall where the tellers rationed the amounts paid to them.

But at the Access Bank branch in Bodija, customers that wanted to withdraw were not allowed into the banking ball.

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The few ATMs that worked in most parts of the city had hundreds of forlorn-looking customers in queues for hours.

Some of the customers lamented the hardship the scarcity of the naira had caused them.

Abimbola Onalaja said she arrived at the First Bank branch at Agodi, at 6:30 am and left around 4 pm without making a withdrawal through the ATM.

“I got here at 6.30 am, yet, I couldn’t collect a dime. Look at the time now. It’s 4 pm and I’m yet to eat anything.

“The last money on me was what I used to come here, this hardship is getting too much.”

Residents of Osogbo, the Osun State capital, were stranded as banks failed to load their ATMs.

ATM stands at Ogo-Oluwa, Station road, Fakunle, Igbonna, Power Line and Aregbe were deserted as they are not dispensing cash.

Customers who came from distant locations could also not make withdrawals over the counter.

In Owerri, Imo State, many people waited for hours outside the banks’ premises for officials to open the doors to their banking halls.

At Douglas Road, some of them complained that they were “tired of suffering”

One of the customers, Echesona Judex, said: “It is not really a good experience though it made our purchases reduce. We cannot go to the places we want to go or buy food items.”

Another was overheard in front of one of the banks threatening to burn it down if the officials did not allow him into the premises. At Shoprite along Egbu Road, all UBA ATMs did not work.

But Benin, Edo State residents had a breather as the CBN made available new notes to banks to dispense through their counters and ATMs.

Point of Sale (PoS) operators also started reducing their charges and paying new naira.

A customer, Maureen Douglas, was paid N20,000 across the counter.

CBN’s Director of Risk Management from Abuja, Blaise Ijebor, and the Benin office branch Controller, Renner Jumbo, monitored the banks.

The situation was also a bit smooth in parts of Jos, the Plateau State capital, where banks let in customers who were able to make withdrawals.

The Nation

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600 Women, Children, Elderly Abducted in Niger Mosque Attack

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600 Women, Children, Elderly Abducted in Niger Mosque Attack
Niger State Governor Mohammed Bago

600 Women, Children, Elderly Abducted in Niger Mosque Attack

An armed group has released a harrowing video showing what residents say are about 600 women, children, and elderly people abducted during a coordinated attack on a mosque in Niger State, north-central Nigeria, as authorities struggle to verify the scale of the mass kidnapping.

NIGER STATE, Nigeria – An armed group has released a harrowing video showing what residents say are approximately 600 women, children, and elderly people abducted in a brazen attack on worshippers at a mosque in Dekara village, Borgu Local Government Area, Niger State. The footage, posted on Facebook and WhatsApp on Sunday, shows large groups of people seated in a forested area surrounded by armed men, with the cries of children audible in the background. The attack occurred on Friday, August 21, 2026, when suspected terrorists stormed the Kpenya Mosque during Juma’at (Friday) prayers at about 2 p.m. Residents reported that the attackers carried out simultaneous raids on several communities in the Borgu area, including Dekara, Kpenya, Sabon-Gida, and Gidan-Zana, taking worshippers from multiple mosques. Among those abducted were the village head of Ka’ada, who had only recently been released from a previous kidnapping, and the 90-year-old father of the District Head of Dekara.

In the video, a gunman speaking in Hausa addressed the families of the captives, urging them to identify their relatives among those shown. “These are all your people. We are showing you this video so that you can identify your family members, your fathers, mothers, children and relatives,” the gunman said. Resident Jamilu Ibrahim appealed to federal and state authorities to secure the release of the captives, highlighting the presence of mothers with infants and children among those shown in the footage. Another resident, Ismaila Yahaya, confirmed that among those kidnapped was the village head of Ka’ada, who had been released from a recent kidnapping, and that all those attending the central mosque in Dekara were taken away.

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Authorities have struggled to verify the exact number of abductees. The Niger State Government, through Information Commissioner Mr. Obed Nuhu Nana, acknowledged that the number of persons abducted and other details are still being verified. The government urged the public to refrain from circulating unverified reports that could heighten anxiety or compromise ongoing security efforts. Police had earlier confirmed an attack on worshippers in the area but said they could not verify the number of people abducted. Police spokesperson Wasiu Abiodun said the attackers stormed the Kpenya Mosque at about 2 p.m. on Friday after previously attacking Gidan-Zana and Kpenya villages. He noted that joint security forces had been deployed to the area for assessment and rescue operations.

Initial reports gave substantially lower estimates: some local residents told Reuters that more than 60 worshippers were kidnapped, while the Borgu area council chairman put the figure at at least 60, and another local leader told the Associated Press that about 80 people had been abducted from affected communities. However, a resident of Dekara told Daily Trust that in Gbezhin, one of the communities in Dekara District, no fewer than 100 people were still missing as of Sunday. The terrorists themselves have claimed, in the video, that about 600 people are in their custody.

Mass kidnappings for ransom have become increasingly common in parts of north-western and north-central Nigeria, where armed gangs frequently target villages, schools and highways. This incident is among the largest mass abductions in recent months and has raised alarm about the deteriorating security situation in Niger State, which has increasingly become a hotspot for banditry and terrorist activities. Niger State Governor Mohammed Umaru Bago has condemned the attack and directed security agencies to intensify efforts to rescue the abducted victims.

The attack also comes amid heightened security alerts from the U.S. Embassy in Nigeria, which had warned of possible attacks in several northern states including Niger, Kaduna, Katsina, and Zamfara. The embassy had advised its citizens to avoid non-essential travel to these areas, citing increased risk of kidnappings and terrorist activities.

600 Women, Children, Elderly Abducted in Niger Mosque Attack

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Flood Submerges Homes, Destroys Property Worth Millions in Akwa Ibom Communities

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Flood Submerges Homes, Destroys Property Worth Millions in Akwa Ibom Communities

Flood Submerges Homes, Destroys Property Worth Millions in Akwa Ibom Communities

Hundreds of residents of Eket Local Government Area have been left stranded and counting losses after torrential rainfall triggered severe flooding, submerging homes, destroying property worth millions of naira, collapsing buildings, and forcing families to flee for safety, with many worshippers also prevented from attending Sunday services.

AKWA IBOM, Nigeria – A devastating flood has ravaged Eket Local Government Area of Akwa Ibom State, submerging homes, destroying property worth millions of naira, and leaving hundreds of residents stranded following three days of torrential rainfall. The heavy downpour, which began on Saturday night and continued into Sunday, overwhelmed drainage systems across the oil-producing city, turning residential areas into virtual rivers and forcing many families to flee for safety. The Southern Examiner newspaper reported that the flooding destroyed properties worth hundreds of millions of naira, swept away vehicles, collapsed houses, and rendered thousands of residents homeless. Several roads and streets were cut off, while residents of affected communities were forced to seek refuge in safer locations as floodwaters overwhelmed homes, business premises and other facilities. Along Afaha-Eket Road, residents were still busy bailing out water from their houses and trying to rescue badly soaked clothing on Sunday morning.

Mrs Elizabeth Akpan, a housewife residing on Mkpok Lane, expressed distress after floodwater submerged her home and destroyed her belongings. The disaster occurred after rainfall lasting more than four hours from Saturday night into Sunday, destroying her electronics, kitchen utensils and other household items. “Flood has destroyed my property worth millions of naira due to the heavy downpour that started yesterday and today,” she cried. Akpan appealed to the State Emergency Management Agency (SEMA) and National Emergency Management Agency (NEMA) to urgently come to her rescue. “Flood has taken over my entire building. I need help from the relevant emergency agencies before the situation becomes worse,” she said. Another resident, Mrs Mfonobong Bassey of Edem Udoh Street, said floodwater soaked her beddings and destroyed electronics in her sitting room. “My children and I have been scooping water from our rooms, kitchen, toilet and bathroom since 4 a.m. Flood has submerged my house and soaked the sitting room. God, come and save me and my children from this calamity,” she cried.

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The flooding has caused widespread destruction, with reports confirming that some buildings collapsed during the disaster. Unlike the flood disasters of May 2025, communities completely ravaged by this latest menace include Afaha-Eket, Uqua, Ikot Udoma, Idua, and Afaha Uqua. Mr Paul Idongesit, a resident of Idua Road, said the flood collapsed his building and destroyed his late wife’s grave. The Southern Examiner also reported that a 70-year-old widow, Mary Monday Peter, narrowly escaped death when floodwaters overwhelmed her home in Ikot Usoekong, Eket LGA—she fled the building just before it gave way, leaving her homeless and without any opportunity to salvage her belongings. Several roads and streets were cut off, while residents of some affected communities were forced to seek refuge in safer locations as floodwaters overwhelmed homes, business premises and other facilities. The two-day downpour also prevented hundreds of worshippers from attending their church services on Sunday.

Areas affected include Ediam Road, Edohoeket Street, Idua Road, Afaha Eket Road, All Weather Road, Ikot Udoma, Mkpok Lane, and Eket-Oron Road. Other communities severely affected include Uqua and Afaha Uqua. The flooding submerged roads, destroyed farmlands, and left several families displaced. Mr Promise Friday, a businessman, said floodwater destroyed more than 80 bags of POP materials and cement purchased for his building project, along with other belongings in his apartment, leaving him with significant financial losses. The flooding also reportedly swept away vehicles and destroyed household items and other property worth millions of naira across the neighbourhood.

Affected residents have appealed to the Akwa Ibom State Government, NEMA, SEMA, and other relevant authorities to intervene urgently. Mr Paul Idongesit urged the state government to construct larger drainage channels and culverts to reduce flooding and its impacts, while also appealing to the World Bank and other development partners for assistance. The Ekid Development Forum (EDF) attributed the severity of the flooding partly to poor waste management, indiscriminate refuse disposal, defective drainage systems, poor execution of some road projects, and alleged government negligence in environmental management. EDF Vice-President, Mkpisong Francis Odoro, identified indiscriminate waste disposal, poor workmanship by some road contractors, and inadequate government intervention as major factors contributing to the recurring flooding in Eket. “There is no tangible comprehensive waste disposal system in Eket Local Government. Residents dispose of waste randomly and carelessly because no government policy and legislation effectively controls waste management,” Odoro said. He also criticised what he described as poor workmanship by some indigenous contractors executing road projects in the area.

The Chairman of Eket Local Government Area, Mr Akaninyene Tommy, accompanied by officials of NEMA, inspected the affected areas to assess the extent of the damage. Tommy described the flooding as devastating and heartbreaking. “The flood is deeply distressing. Homes have been ravaged, properties damaged, and families left to bear the painful consequences,” Tommy said. He said the council visited affected areas to see the situation firsthand, listen to residents, and assess the extent of the damage. “What we witnessed was heartbreaking, and we recognise the urgency of the situation,” the chairman said. Tommy said the council was engaging NEMA and SEMA, while detailed assessments of affected areas were being compiled for submission to relevant authorities to facilitate timely intervention and support for affected families. He assured affected residents of government palliatives to cushion the immediate impact of the disaster. “We will continue to stand firmly with our people and do everything within our capacity to ensure no affected family is left behind,” Tommy said. He also appreciated individuals who had offered support, comfort and solidarity to residents affected by the flooding, adding that every gesture of kindness and solidarity matters and none will go unnoticed.

The flooding in Eket comes after the Federal Ministry of Environment placed Eket, Uyo and Oron among communities on critical flood alert between August 2 and August 15, 2026. The government had warned that 944 communities across 21 states could experience severe flooding triggered by a combination of persistent rainfall, rising river levels, saturated soils, rapid surface runoff and overwhelmed drainage systems. Eket recorded a flood-risk score of 90 to 100 out of 100 in the assessment, placing it in the critical risk category.

Flood Submerges Homes, Destroys Property Worth Millions in Akwa Ibom Communities

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Police vow to arrest killers of 10 officers slain in Kebbi gun battle

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Police vow to arrest killers of 10 officers slain in Kebbi gun battle

Police vow to arrest killers of 10 officers slain in Kebbi gun battle

The Nigeria Police Force has intensified efforts to track down the armed criminals responsible for the killing of 10 police officers in Kebbi State, assuring the families of the fallen personnel that the Force will not relent until those behind the attack are brought to justice.

The officers, who were serving with the Special Intervention Squad (SIS) and other tactical formations, were killed on August 10, 2026, during a fierce encounter with suspected bandits along the Rafin Makuku axis of Sakaba Local Government Area of Kebbi State.

According to the police, the confrontation began at about 9:25 a.m. when security operatives intercepted a heavily armed group reportedly moving between Zamfara and Kebbi states.

The encounter developed into a prolonged exchange of gunfire, resulting in the deaths of 10 police officers. Two other officers were injured, while two civilians were also killed during the incident.

The police, however, said the operation inflicted significant casualties on the attackers. According to the Force, 17 suspected bandits were neutralised, while four motorcycles used by the group were destroyed.

The Inspector-General of Police, Olatunji Rilwan Disu, expressed grief over the deaths and described the fallen personnel as officers who paid the ultimate price while performing their constitutional duty of protecting lives and property.

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Disu assured the families and colleagues of the deceased officers that their sacrifice would not be forgotten and pledged that the police would pursue those responsible for the attack.

“We shall not be intimidated, we shall not relent, and we shall not allow the sacrifices of our fallen heroes to be in vain,” the IGP said.

The police leadership also moved to strengthen security operations in the affected communities following the attack. A delegation led by Deputy Inspector-General of Police Umar Shehu Nadada visited Kebbi State to engage the state government and assess measures required to prevent further attacks.

During the visit, Kebbi State Governor Nasir Idris expressed condolences over the death of the officers and pledged government support for their families.

The governor also reaffirmed the state’s commitment to supporting security agencies in their efforts to protect communities and counter banditry and other violent crimes.

The police delegation assured the state government that operations would be intensified to identify, track and apprehend members of the criminal group responsible for the attack.

As part of efforts to improve security in the state, the police also announced plans to establish a police squadron in Kebbi. The proposed formation is expected to increase police presence and strengthen the Force’s capacity to respond to security threats, particularly in vulnerable areas.

The deadly confrontation has once again highlighted the security challenges along the Kebbi-Zamfara axis, where armed groups have continued to exploit remote communities and difficult terrain.

The police have vowed to sustain operations in the affected area and prevent the attackers from regrouping after the encounter.

The Force also stressed the importance of cooperation between security agencies, state governments and local communities, particularly through timely intelligence sharing that could help security personnel detect and disrupt criminal activities.

For the families of the 10 officers killed in the line of duty, the incident represents a devastating loss. For the Police Force, the deaths have reinforced its determination to confront armed criminal groups and protect communities across the country.

The IGP maintained that the police would continue to pursue the perpetrators and ensure that those responsible for attacks on security personnel and civilians are brought to justice.

Police vow to arrest killers of 10 officers slain in Kebbi gun battle

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