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ATMs in Nigeria run dry due to short supply of new naira notes
Banks in Nigeria are running short of new naira notes, about four days to the deadline set by the Central Bank of Nigeria for old notes to be phased out.
This is coming as more people including traders have started rejecting the old N1,000, N500 and N200.
Some commercial banks still give old notes to their customers for Over- the- Counter Withdrawals (OTC) while very few Automated Teller Machines (ATMs) dispense the new naira notes.
Some officials of the commercial banks in major cities including Abuja and Lagos told customers they could only withdraw a maximum of N20,000 of the new notes while old notes are still being given to customers for withdrawals in the banking halls, against the directive of the CBN.
Daily Trust reported that the CBN had directed customers to start rejecting old naira notes from banks, insisting that the old notes cease to be legal tender by January 31 as earlier stipulated.
Our reporter who went to withdraw new notes was given old naira notes at a popular bank in the Garki Area of the FCT.
The bank officials simply told our reporter that “The central bank did not supply them and the little supply they have is what they load at ATMs in order to obey the CBN directive.
“Immediately the ATMs are loaded, customers rush immediately to exhaust the little cash in it.”
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Another bank Customer in Kano, Salihu Bello said “He was in the banking hall on Thursday where a customer was making trouble because he needed new cash to pay his own staff (labourers). The bank tellers said they didn’t have what they had expected to get today but they were not supplied. The bank is still paying old currencies”
Also another bank Customer, Ruth Tene stated that “Most banks today are claiming they don’t have cash to pay customers today, particularly Zenith Bank and GT Bank, Jabi all the same case,”
Meanwhile, Daily Trust observes that business owners in major markets and supermarkets have begun to reject the old naira notes.
At the popular Wuse Market in Abuja, Bashir Isa, a resident of the area who went to purchase some goods with the old naira notes could not do so as the traders there told him they won’t accept the old noted.
The same scenario is playing out at a popular Chinese store in the popular Jabi Lake mall located in the Jabi district where attendants are outrightly rejecting the old notes.
Reps tackle commercial Banks over new currency policy
Members of the House of Representatives Ad-hoc committee have tackled commercial bank operators over the hardship being experienced by Nigerians over the new currency policy imposed by the Central Bank of Nigeria (CBN).
Responding separately, the banks Chief Executives Officers (CEOs) revealed that the amount of new Naira notes allocated to the banks are not enough to meet the demands of their customers.
Speaking, one of the bank’s executives, Hadiza Ambursa informed that their bank collects about 10 per cent of what they deposit to the Central Bank.
On his part, Sterling Bank’s Orlando Umoren who corroborated what the Access Bank official said, noting that Sterling Bank received and disbursed varied amounts of the new notes.
He said: “We received a minimum of N150 million to be shared. In Kaduna, N150 million, in Kano, we received N100 million to be shared amongst the branches in the metropolis. They are being fed in the ATM only and not to be given to the customers across the counter. In Abuja here, what we are given is about 80 per cent. In Kano, it is less than 10.
“What we get in return is nothing comparable… The reason why the new naira note is not coming. It is in the furtherance of the cashless policy. The banks are still under pressure to ensure that they meet the deadline”.
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The Regional Executive for Heritage Bank, Oniko Daniel called on the public to understand the policy as put up by the CBN and the position of the commercial banks as entities regulated by the apex bank.
He said, “If you load a cartridge, which is about 8 million, in less than 2 hours that 8 million is finished. It must be understood. People want to deposit N10 million and want to collect N10 million, but It is not possible. CBN is doing cash swaps in rural areas. The public needs to know the guidelines and what the CBN is saying. CBN guideline is more or less a rule to the commercial banks”.
While speaking on whether the policy and the deadline set by the CBN on the new currency is feasible, the Chief Executive of Retail and Commercial Banking, North, First Bank Nigeria Plc, Shehu Aliyu said, they are guided by the guidelines put by the CBN and cannot determine anything regarding the policy.
He said “We have seen an upsurge of people coming to open accounts and deposit money into those accounts. We have been handling this as much as we can. After this hearing, we will bring details. We have been paying out new notes across the country.
Speaking, the Chairman of the committee faulted the CBN on the policy saying that it violated the CBN Establishment Act by setting up a deadline of January 31st for the old currency to cease as a legal tender.
He said, “Section 20(3) made it necessary, mandatory on the CBN not at any point to refuse to accept old notes simply because of the expiry date.
“The position of the law is that our old notes must continue under every circumstance to have value. The values of the old notes must be respected and protected by the CBN and the commercial banks.
Daily Trust
News
Tinubu Commissions Gateway Airport, Pledges to Crush Banditry in Nigeria
Tinubu Commissions Gateway Airport, Pledges to Crush Banditry in Nigeria
President Bola Tinubu has pledged to defeat banditry, terrorism, and insecurity across Nigeria, promising continued investment in the country’s security architecture. He made the declaration while commissioning the Gateway International Airport and several other federal projects in Ogun State on Saturday.
Speaking at a reception following the inauguration, Tinubu said his administration will intensify efforts to protect lives and property across the nation. “We will win over banditry and defeat insecurity. We will continue to invest more to strengthen the security architecture of Nigeria,” he stated, emphasizing the government’s commitment to national safety.
The president described the Gateway International Airport as the economic nerve center of Nigeria’s corridor, highlighting its role in boosting the aviation sector, trade, and socioeconomic development in Ogun State and the wider region. The airport is integrated with independent gas and energy infrastructure, ensuring sustainability and operational efficiency.
Tinubu also lauded Governor Dapo Abiodun for using improved federal allocations to develop infrastructure capable of driving Ogun State to greater economic heights. He praised the state government’s focus on mobility, security, agriculture, and industrial development, noting that projects like the airport and new Gateway Airlines will enhance trade, logistics, and employment opportunities.
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Governor Abiodun, in his remarks, emphasized the transformative impact of the airport and related infrastructure on Ogun State’s economy. He noted that the state’s internally generated revenue has grown from ₦40 billion to over ₦250 billion annually, while its GDP increased from ₦4 trillion to ₦17 trillion over the past seven years. He added that the airport features a four-kilometre runway, modern control tower, advanced aviation systems, and cargo facilities, making it a centerpiece of the state’s emerging aerotropolis.
The ceremony also saw the launch of Gateway Airlines, operating Bombardier CRJ900 aircraft, alongside cargo services designed to expand trade and logistics capacity. Beyond aviation, Ogun State has invested heavily in roads, healthcare, and housing, including over 1,600 km of rehabilitated roads, more than 7,000 affordable homes, and 140 primary healthcare centers, according to Governor Abiodun.
The event was attended by prominent dignitaries including Senate President Godswill Akpabio, former President Olusegun Obasanjo, state governors, lawmakers, captains of industry, and traditional leaders. Both praised the collaboration between federal and state governments in delivering critical infrastructure, with Tinubu’s leadership highlighted as key to Nigeria’s development and security progress.
Tinubu emphasized that the federal government’s reforms and infrastructure investments are people-centered, aimed at improving daily life, fostering prosperity, and ensuring national security. He added that these efforts are designed to overcome violence and terrorism while positioning Nigeria for sustained economic growth.
Tinubu Commissions Gateway Airport, Pledges to Crush Banditry in Nigeria
News
Mother, Six Children Kidnapped in Fresh Kaduna Bandit Attack
Mother, Six Children Kidnapped in Fresh Kaduna Bandit Attack
In a fresh wave of banditry in Kaduna State, a mother and six children were abducted from their home in Kurmin‑Uwa near Janjala community in Kagarko Local Government Area on Friday night. The attack comes less than 24 hours after suspected bandits kidnapped ten residents, including seven members of a single family, in Unguwar Sabon‑Titi, Katari.
According to residents, the raid occurred around 10:23 p.m., with the assailants going directly to the targeted house before whisking away the victims, identified as Ladi Malachy, Patience Malachy, Promise Malachy, Inama Malachy, Peter Malachy, and Aboyi Malachy. Witnesses said the attackers fled into surrounding forests, leaving the community in fear.
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A local resident, Ibrahim Shehu, confirmed the abduction, while a community leader, speaking on condition of anonymity, revealed he alerted security operatives immediately after learning about the raid. However, it remains unclear whether authorities responded promptly. Kurmin‑Uwa is located about two kilometres from Kagarko town, an area that has seen repeated bandit attacks on households.
Security sources indicate that search and rescue operations have been launched, as authorities work to locate the kidnappers and secure the release of the abducted family. Meanwhile, the Kaduna State Police Command has yet to issue an official statement regarding the incident.
The back‑to‑back kidnappings have heightened tension in rural Kaduna communities, with residents calling for intensified patrols, improved security presence, and faster emergency response to prevent further abductions. Analysts warn that without swift action, such violent raids may continue to terrorise villages across the state.
Mother, Six Children Kidnapped in Fresh Kaduna Bandit Attack
News
INEC Warns ADC Against Holding Convention Without Supervision
INEC Warns ADC Against Holding Convention Without Supervision
The Independent National Electoral Commission (INEC) has cautioned the African Democratic Congress (ADC) against proceeding with its planned congresses and national convention without proper supervision and in defiance of an existing court order.
Chairman Joash Amupitan issued the warning during an interview on Arise TV on Friday, after the ADC insisted on going ahead with its convention despite INEC’s derecognition of the leadership faction linked to David Mark and Rauf Aregbesola.
Amupitan stressed that INEC’s actions were guided by legal considerations, particularly a subsisting court order restraining the ADC from taking steps that could undermine ongoing legal proceedings. “Don’t do anything. Don’t take any step that will render any proceeding before the court nugatory,” he said.
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He explained that the ADC’s plan to conduct congresses and a national convention is already part of a pending legal process, with motions related to the activities yet to be determined by the court. Ignoring the court’s directive, he warned, could result in invalidated elections or nullified internal party decisions, citing precedents in Zamfara and Plateau states where failure to comply with court orders affected electoral outcomes.
Amupitan highlighted the risks of repeating past mistakes, stressing that while the ADC is free to act as it chooses, INEC would not risk supervising illegal or unauthorized party activities. He reinforced the importance of adhering to the Electoral Act and judicial directives to ensure that party events are legally recognised and free from future challenges.
The INEC Chairman’s warning comes amid heightened tension within the ADC, with the faction led by David Mark facing derecognition and ongoing litigation over the party’s legitimate leadership. Analysts note that the statement underscores INEC’s commitment to rule of law, legal compliance, and internal party democracy, especially as Nigeria approaches the 2027 general elections.
INEC Warns ADC Against Holding Convention Without Supervision
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