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Naira scarcity: More banks close branches in major cities
Relief is far for cash-strapped Nigerians as more banks shut their branches yesterday.
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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Bandits Abduct Seven Family Members, Three Neighbors in Kaduna
Bandits Abduct Seven Family Members, Three Neighbors in Kaduna
Suspected bandits have abducted ten people, including seven members of a single family, in a violent raid on Unguwar Sabon‑Titi, along Katari‑Hayin Dam in Kaduna State’s Kachia Local Government Area.
The attack occurred around 9:32 p.m. on Thursday, according to a local resident, Mr. Markus Yakubu, who described how the gunmen, armed with sophisticated weapons, quietly surrounded a family compound before whisking away the victims. The bandits then moved to a neighboring house and abducted three more residents.
Yakubu identified the abducted as Jummai Amos, Barnabas Amos, Iko Amos, Baby Amos, Eunice Amos, Eshiwan Amos, Godwin Amos, Bagudu Damisa, Evelyn Damisa, and Alfred Iriyo. He explained that the assailants refrained from firing inside the town, possibly because the attacked houses were close to the District Police Officer’s residence in Katari, only beginning to shoot after moving the victims away from the area.
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A community leader, speaking on condition of anonymity, confirmed receiving distress calls about the raid but said security operatives’ contacts were unreachable, leaving locals to await intervention. Neighbors reportedly visited the homes of the abducted on Friday morning to offer support to the families.
A security source also confirmed that police and military personnel are combing forests and surrounding areas in search of the kidnappers and to rescue the victims alive. Efforts to reach the Kaduna State Police Command spokesman, DSP Hassan Mansur, for comment were unsuccessful.
The incident highlights the persistent insecurity in Kaduna State, where rural communities have frequently been targeted by armed bandits. Residents continue to demand urgent government action, improved security patrols, and rapid response teams to prevent further abductions and ensure the safe return of victims.
Bandits Abduct Seven Family Members, Three Neighbors in Kaduna
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Fani‑Kayode Fires Back at Peter Obi, Defends NADECO’s Legacy
Fani‑Kayode Fires Back at Peter Obi, Defends NADECO’s Legacy
Former Minister of Aviation Femi Fani‑Kayode has sharply criticised Peter Obi over remarks perceived to diminish the role of the National Democratic Coalition (NADECO) in Nigeria’s democratic history, thrusting the debate over the nation’s pro‑democracy legacy back into the spotlight.
In a lengthy post shared widely on social media, Fani‑Kayode labelled Obi’s alleged comments about NADECO as “a crying shame” and warned that they “shall not go unanswered.” He accused Obi of attempting to denigrate the sacrifices of NADECO leaders and activists who opposed military rule in the 1990s.
“Peter Obi’s attack on NADECO and his attempt to denigrate the leaders of that movement and its members — who single‑handedly fought military rule and made the ultimate sacrifice for democracy in our country — is a crying shame,” Fani‑Kayode wrote.
He recalled how Obi, in his early political life, had been associated with the administration of General Sani Abacha, one of Nigeria’s most oppressive military rulers. Fani‑Kayode contrasted this with the actions of NADECO figures and footsoldiers who resisted military oppression, endured persecution and brutality, and were driven into exile for their activism.
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Fani‑Kayode stressed the heavy cost paid by NADECO members during the struggle. “Many of us were in NADECO and are living witnesses to what happened. We spoke out, wrote articles, suffered persecution, were locked up, were tortured, were killed and were forced into exile,” he said. He argued that the sacrifices made between 1992 and 1999 should never be dismissed or belittled.
The former minister also took aim at politicians linked with the African Democratic Congress (ADC), including ex‑Senate President David Mark. Fani‑Kayode alleged that Mark had previously spoken against Moshood Kashimawo Olawale Abiola, the presumed winner of the June 12, 1993 presidential election whose annulment by the military regime of Ibrahim Babangida plunged the country into prolonged unrest.
He reiterated that NADECO activists faced brutal repression, including imprisonment, torture, and exile under successive military rulers, and warned that Nigeria’s current democratic freedoms and free speech are the results of those struggles.
“He (Obi) should enjoy the democracy and free speech that we have today which others fought and died for between 1992 and 1999,” Fani‑Kayode said, urging Obi and others to refrain from comments that appear to undermine the legacy of pro‑democracy figures.
Obi’s comments, though not publicly expanded in recent days, sparked discussions across political and historical circles, with analysts noting that the debate over Nigeria’s democratic heritage and the sacrifices of groups like NADECO remains politically sensitive, particularly as the country continues to grapple with governance, electoral reforms, and national identity.
Political commentators also highlighted how the exchange reflects broader tensions within Nigeria’s opposition and among public figures vying to define the narrative of the nation’s democratic journey.
As of now, Obi’s camp has not formally responded to Fani‑Kayode’s rebuttal, but the debate has garnered attention on social media and in political commentary platforms, underscoring the enduring significance of NADECO’s legacy in contemporary political discourse.
Fani‑Kayode Fires Back at Peter Obi, Defends NADECO’s Legacy
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Plateau Killings: Ezekwesili Blasts Tinubu, APC Over ‘Failure to Act’
Plateau Killings: Ezekwesili Blasts Tinubu, APC Over ‘Failure to Act’
Former Minister of Education, Oby Ezekwesili, has strongly criticised President Bola Tinubu and the ruling All Progressives Congress (APC) over the ongoing killings in Plateau State, accusing the government of inaction and failure to protect citizens.
In a sharply worded statement posted on her X account, Ezekwesili questioned the priorities of political leaders who continue with engagements while communities are under attack. She condemned what she described as a pattern where authorities respond to violence with statements, silence, and committee formations instead of decisive security action.
Reacting to disturbing images from recent attacks in Jos, she said the blood of innocent Nigerians rests on leaders who “knew, looked away, and chose a convention hall over a command centre,” warning that such conduct reflects a deeper governance failure.
The former minister also raised concerns about the normalisation of violence in Nigeria, stressing that citizens must reject any situation where human lives are treated as expendable. She urged Nigerians to transform grief into collective action, demanding accountability, justice, and urgent reforms to address insecurity.
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Her comments come amid renewed violence in Plateau State, particularly in Jos North and nearby communities, where recent attacks have reportedly left dozens dead and many injured. The persistent crisis has once again drawn attention to the fragile security situation in Nigeria’s north-central region.
Despite increased military presence and government assurances, Plateau has continued to experience recurring attacks linked to communal tensions, armed groups, and farmer-herder conflicts. Analysts say the repeated outbreaks highlight the limitations of current security strategies.
President Tinubu had earlier condemned the attacks and directed security agencies to bring perpetrators to justice, while promising that such incidents would not recur. Additional security deployments and restrictions have also been introduced in affected areas.
However, critics argue that these responses remain largely reactive, with little progress in addressing the underlying causes of the violence. Ezekwesili’s remarks add to growing public pressure on the federal government to adopt a more proactive and coordinated approach to national security.
As outrage continues to build, many Nigerians are calling for stronger leadership, improved intelligence gathering, and decisive action to end the cycle of killings and restore confidence in government.
Plateau Killings: Ezekwesili Blasts Tinubu, APC Over ‘Failure to Act’
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