News
Sale of New naira booms in Lagos, Abuja, Anambra
A currency seller, Abdul Mohammed, operating under Dei-Dei pedestrian bridge in the Federal Capital Territory, said the inability of banks to distribute the new notes has increased the demand for them.
“We normally sell N10,000 for N13,000 and N20, 000 for N26,000. I will provide all the denominations you want. I have N200, N500 and N1,000 new naira notes,’’ he offered.
When asked if he could supply N600,000 new notes, he promised to notify our correspondent when the notes were available for collection.
He said, “The new notes are very scarce and that is why we charge more. Getting the new notes is very tough and expensive for us. The issue of changing the notes has caused a lot of problems. There is high demand for it. I get the notes at very expensive rates too.
“It is also not available at banks because people are rushing to buy it there; we are not enjoying the business at this time.
“We sell a bundle of 200 notes for N300,000; N500 is even cheaper than that. Some get it from the bank but it gets exhausted quickly.”
A currency exchange operator, who chose to remain anonymous, explained that the currency exchangers maintain a relationship with bank staff, adding, however, that they do not pay for the currencies, except by way of incentives or when there is an increase in demand.
“Currency exchangers basically form relationships with bank staff. If I need an amount, all I do is put a call through to my contact in the bank, ask for the availability of what I need, find out the buy rate, and buffer it by N5-N10 to resell.
“Most times, we don’t offer the bank staff anything. We just give incentives once in a while. Except there is high demand and limited supply, that’s when they can demand something. N50,000 mint (new notes), for example, could resell for about N53,000 or N60, 000, at most,’’ he explained.
Anambra
Banks in Onitsha, Nnewi, Obosi, Nkpor, Ekwulobia and some parts of Awka in Anambra State did not open as a result of the Monday sit-at-home.
One of our correspondents, who went round the cities, noticed that most of the ATMs were switched off while the few ones that were working were still dispensing the old notes even as they were besieged by a huge crowd of customers.
In the early hours of Monday, two persons who had a public address system, went around some streets of Onitsha and Nkpor, asking the residents to come out and buy the new notes.
The unidentified individuals were said to have insisted on collecting N3,000 on every N10,000 withdrawal of the new notes.
Lagos
Our correspondents who visited some parts of Lagos and Ogun states, including Ikeja, Egbeda, Ikotun, Idimu and Magboro, observed that the racketeers had taken over the naira swap initiative in alleged deals between them and some bankers.
The currency racketeering was on full display at Access Bank located on Ikorodu Road in Lagos on Monday.
A resident, who chose to speak on condition of anonymity, said, “I went to the Access Bank to withdraw some money. Out of all the nine Automated Teller Machines on the bank premises, only one was dispensing the new notes with a N20,000 withdrawal limit.”
“However, due to the long queue of customers on the bank premises, a woman whom some people had accused of using different ATM cards to empty a nearby Zenith Bank machine began to sell the new notes to those who could not withstand the long hour on the queue,” she narrated
According to her, the lady charged N1,000 per N10,000 and N5,000 per N100,000 for the new notes.
Similarly, during visits to some PoS operators in Ogun and Lagos, some residents narrated how they bought the new notes from bankers and black market operators.
A PoS operator at Berger bus stop said they could not get the new notes from banks due to the scarcity.
She further alleged that some bankers and black market operators were selling the new notes at outrageous rates, making it difficult for them to maintain the previous charging rates.
She said, “We cannot continue to charge our customers the previous rate. Some bankers sell the new notes to us. At times, we get them from the black market. On every N100, 000 new notes we collect, there is a charge of N5,000. Some currency operators charge as high as N10, 000 for N80, 000.”
She warned that they might no longer engage in a transaction that is less than N5,000.
At a PoS shop at Berger, our correspondent observed the fee had increased astronomically.
Also, one Iya Ire, who operates a PoS terminal at the Egbeda area of Lagos State, said, “Here, they sell new notes; N5,000 comes with an extra charge of N500 and above, depending on how you negotiate. Then for N10, 000 new notes, it comes with an extra charge of from N1,000 and upwards”
One of the black market operators in Ikeja who does not want her name on print said, she charges as much as N500 for N5000 cash withdrawal.
She said, “I had to pay the cashier at the bank to get the new notes and that’s even because I’m a regular customer at that branch. Even at that, I still spend hours in the banking halls.
Narrating his ordeal, a PoS operator in the Magboro axis of Ogun State, Tunji Samuel, said, “Can you see how I am sweating? I had just returned from the bank. I was unable to get the new notes at the bank.
Meanwhile, around Sterling Bank in the Magboro area of Ogun State, unlicensed currency operators were spotted selling the new notes.
One of the operators charged our correspondents N500 for a N5000 cash withdrawal.
Another currency hawker, who chose to speak on condition of anonymity, said, “I am helping a staff member of the bank to sell new notes and I get a commission after sale.”
At the Computer village, in Ikeja, Lagos State, it was observed that a number of shop owners were selling new notes to customers.
One of the shop owners said, “I have been gathering the new notes for two weeks now. I was lucky to get some at a party I attended on Saturday. However, I had to pay some fees to buy additional new notes. I’m glad I am making some profit from this.”
Also, Point of Sale operators in the Ikeja area of Lagos State were charging as much as N500 for every N5000 cash withdrawn.
Abuja operators
In Abuja, one of our correspondents paid N1,000 as fee to withdraw N10,000 new notes from a PoS agent.
However, scores of bank customers were subjected to long queues at ATM stands in Maitama, Wuse II, Garki and other locations across the Federal Capital Territory.
According to a statement issued on Saturday by the Acting Director of Army Public Relations, Colonel Appolonia Anele, the reshuffle is part of efforts to strengthen national security and improve operational effectiveness across the country.
The statement added that the postings affected field commanders, school commandants and principal staff officers at the Army Headquarters.
It noted that the Chief of Army Staff, Lieutenant General Waidi Shaibu, approved the strategic redeployment of senior officers, saying the move was aimed at enhancing the Army’s capacity to address emerging security challenges.
Under the new appointments, Major General WM Dangana has been named the General Officer Commanding (GOC) 3 Division Nigerian Army and Commander of Joint Task Force Operation ENDURING PEACE, replacing Major General EF Oyinlola.
Similarly, Major General EI Okoro has been appointed GOC 6 Division Nigerian Army and Land Component Commander of Joint Task Force South-South Operation DELTA SAFE, succeeding Major General EE Emeka.
The statement also announced the appointment of Major General JR Lar as Commander, Army Headquarters Garrison, while Brigadier General OM Oyekola will serve as Acting Military Secretary (Army). Brigadier General I Waziri retains his position as Chief of Staff in the Office of the Chief of Army Staff.
As part of efforts to strengthen operational leadership and combat readiness, Brigadier General IB Buhari was appointed Commander of Headquarters 63 Brigade, while Brigadier General K Rabiu was named Commander of Headquarters 31 Artillery Brigade.
In a move reflecting the Army’s growing emphasis on technology and emerging security threats, Major General SA Emmanuel was appointed Commander of the Nigerian Army Space Command.
Major General O Adegbe was also appointed Director of Intelligence and Security at Defence Headquarters.
In the area of military education and institutional development, Major General KE Chigbu was appointed Deputy Commandant of the National Defence College, while Major General SD Makolo became Commandant of the Nigerian Army Armour School.
Other appointments include Major General SO Adejimi as Commandant of the Nigerian Army School of Supply and Transport and Major General FS Etim as Chief of Training at the Headquarters Training and Doctrine Command, Nigerian Army (TRADOC).
Brigadier General U Ahmad has also been appointed Commandant of Depot Nigerian Army, Zaria.
The reshuffle further saw Major General KO Ukandu appointed Managing Director and Chief Executive Officer of Post Housing Development Limited, while Major General AI Allison was named Managing Director of Defence Properties Limited.
The statement added, “The COAS charged the newly appointed senior officers to justify the confidence reposed in them by demonstrating exemplary leadership, professionalism, innovation and unwavering commitment to the Nigerian Army’s constitutional mandate of defending Nigeria’s sovereignty, protecting its territorial integrity and supporting civil authority in maintaining peace and security across the nation.
“The Nigerian Army remains resolute in its transformation drive and commitment to building a highly professional, combat-ready and people-oriented force capable of effectively addressing contemporary and future security challenges in pursuit of Nigeria’s national security objectives.”
The First Lady, Senator Oluremi Tinubu, has come under criticism on social media after encouraging Nigerians to consider small-scale businesses such as selling akara, roasted corn and kuli-kuli, saying they require little capital to start.
Tinubu spoke while addressing State House Correspondents after the Renewed Hope Initiative’s second-quarter meeting with wives of state governors, held at the State House, Abuja, on Wednesday.
She stated this while highlighting the efforts of the Renewed Hope Initiative to support vulnerable Nigerians through grants and other interventions.
According to her, beneficiaries of the initiative were given grants, not loans, to enable them to start businesses.
“We’re trying to give hope, and to start Akara business doesn’t take a lot of money. To start roasting corn, or somebody even said kuli kuli doesn’t take much. We didn’t give them a loan; we gave it to them as a grant.
“So we’ve encouraged Nigerians as best as we could. What is within our hands, I have given, and I keep giving,” she said.
The First Lady said the initiative had also supported interventions in healthcare, agriculture, education and social investment.
She said she donated N2bn to tackle tuberculosis, N1bn for breast cancer interventions and N500m to address malnutrition.
“I remember giving for TB. When I heard there were so many TB cases, I gave N2 billion. To breast cancer, I gave a billion. For food malnutrition, I gave half a billion.
“So those are the things we’ve been doing and making sure we can make sure that whatever this government is trying to do, it will see the light of day,” she stated.
Tinubu added that the initiative had also provided scholarships, ICT training and support for agriculture and social investment programmes.
She urged Nigerians not to lose hope despite the country’s economic challenges.
“The narrative has really changed, has changed to challenge the average man, whereas the average man is supposed to have hope. So I like the idea that Mr President say this is the Renewed Hope Agenda.
“We have to renew our hope, and that’s how we renew our hope, you know, and that’s what I have to tell Nigerians,” she said.
The remarks, however, triggered swift backlash on social media, with many Nigerians accusing the First Lady of trivialising the economic hardship facing ordinary citizens.
A user on X, @ADCVanguard_, said the video showed “exactly how disconnected Nigeria’s ruling class has become from the reality of ordinary citizens.”
Another user, @ireteeh, contrasted the initiative with private-sector efforts, saying, “The First Lady is empowering people with akara, corn, and kuli-kuli, while an ordinary citizen with limited resources is equipping people to build thriving careers in cybersecurity.”
A user identified as Nefertiti (@firstladyship) said, “Nigerians are in big trouble. There is fire on the mountain but the people are tired of running.”
See also Fire guts Anambra timber market
However, some social media users, especially on X, defended the First Lady, insisting there was nothing wrong with encouraging Nigerians towards such businesses.
A user, @Akikanju1568901, said akara is “one of the most lucrative businesses in Nigeria,” with a low startup cost and high profit margin, adding that “akara sellers sent many kids… to universities, built houses, bought cars.”
Another user, @PemiOladapo, said, “There’s dignity in labour… these are our local snacks! People should start it and scale it!”
A user, @TossynBankz_, however, argued that the criticism was not about the businesses themselves but about timing.
“Nobody is mocking akara, roasted corn, or kuli-kuli. Those are honest businesses. The problem is that Nigerians are asking for a better economy, more jobs, and lower prices. Telling people to start selling akara in this situation just feels like the government doesn’t understand what people are going through,” the user wrote.
By Okey Maduforo, Awka
Scores of buildings obstructing natural waterways in Onitsha and Ogidi are facing demolition as the Anambra State Government steps up efforts to permanently tackle flooding and erosion in the affected communities.
The affected areas are located in Onitsha North, Onitsha South and Idemili North Local Government Areas, where authorities say illegal developments have worsened recurring flood disasters.
The state government also warned land grabbers and property speculators to desist from activities that contribute to environmental degradation and undermine approved urban development plans.
The warning came during a joint inspection of flood- and erosion-prone communities in Ogidi and Onitsha by the Commissioners for Works and Infrastructure, Physical Planning and Urban Development, and Environment.
The inspection team visited several vulnerable locations, including Ogidi Market, Building Materials Market, Opi Stream, the Marine Area and Trans-Nkisi Layout, to assess the extent of damage and identify areas requiring urgent intervention.
Speaking during the inspection, the Commissioner for Works and Infrastructure, Arc. Okey Ezeobi, said Phases Two and Three of the Ogidi Flood Control Project had been completed, while the design for Phase One was ready. He assured residents that the government was committed to providing a lasting solution to the perennial flooding in the area.
Ezeobi blamed much of the erosion damage on land grabbing, unregulated developments and alterations to approved master plans. He urged property owners to preserve designated drainage corridors and support ongoing government remediation efforts.
Also speaking, the Commissioner for Physical Planning and Urban Development, Barr. Chijioke Ojukwu, disclosed that investigations revealed that some traders at the Building Materials Market in Ogidi had erected plazas and shops on designated drainage channels, obstructing the natural flow of stormwater and worsening flooding.
He warned that all structures encroaching on waterways would be removed to enable the government reclaim and restore critical drainage networks in line with Governor Chukwuma Soludo’s vision of building clean, orderly and sustainable communities.
Ojukwu also expressed concern over the growing threat of gully erosion in Trans-Nkisi GRA, Onitsha, describing environmental degradation as a major challenge requiring urgent intervention and strict compliance with planning regulations.
The Commissioner for Environment, Barr. Clem Aguiyi, identified illegal construction, indiscriminate waste disposal and the destruction of vegetation that naturally controls erosion as major factors worsening flooding and erosion across the state.
He called on residents to take collective responsibility by planting erosion-control trees, protecting drainage infrastructure and supporting government initiatives aimed at achieving sustainable environmental management.
The International Human Right Protection Service (IHRPS), Anambra State Chapter, has raised concern over the plight of Nigerians allegedly stranded in South Africa amid renewed xenophobic attacks, urging the Federal Government to urgently evacuate affected citizens and provide each returnee with a N5 million resettlement package.
The group claimed that since the first evacuation flight, no further arrangements have been made to bring more Nigerians home, leaving many stranded despite continued attacks and growing fears for their safety.
It also appealed to President Bola Tinubu and the Minister of State for Foreign Affairs, Ambassador Bianca Ojukwu, to intensify efforts to protect Nigerian citizens in South Africa and facilitate their safe return.
The organisation, in a statement signed by its Anambra State Chairman, Hon. Dr. Amb. Prince Ekwunife, and Director of Special Duties, Mr. Ikenna-Daniel Okonkwo, said many Nigerians had lost their livelihoods, sold their properties, and were living in fear following recurring xenophobic attacks. It urged the Federal Government to provide a N5 million starter package for each returnee to help them rebuild their lives.
Recent criticisms of the Niger Delta Development Commission (NDDC) over the oil spill in Bille Kingdom have generated considerable public debate. While concerns about environmental degradation and the welfare of affected communities are valid and deserve attention, it is important that public discourse on the matter is guided by facts, a clear understanding of institutional responsibilities, and the realities of environmental remediation in the Niger Delta.
Bille Kingdom, like many communities in the Niger Delta, has faced the devastating consequences of oil spills over the years. These incidents have impacted livelihoods, fishing activities, farmlands, and the overall ecosystem upon which residents depend. Understandably, community members and stakeholders expect swift interventions from government agencies and development institutions.
However, attributing sole responsibility for responding to oil spills to the NDDC overlooks the specific mandates assigned to various agencies within Nigeria’s environmental and petroleum sectors.
The NDDC was established primarily as an interventionist agency tasked with facilitating sustainable development in the Niger Delta through infrastructure projects, social programmes, economic empowerment initiatives, and regional development planning. While environmental sustainability forms part of its developmental agenda, the direct containment, investigation, and cleanup of oil spills are responsibilities that largely fall under regulatory agencies and oil operators, in accordance with existing laws and environmental regulations.
This distinction is crucial. Oil spill response typically involves technical assessments, environmental impact studies, joint investigation visits, remediation procedures, and regulatory approvals. These processes are often coordinated by specialised environmental agencies in collaboration with oil companies operating in the affected areas. The NDDC’s involvement is generally complementary, focusing on long-term development interventions, community support programmes, and, where applicable, environmental restoration initiatives.
Furthermore, it is important to recognise that the NDDC has invested significant resources over the years in projects aimed at improving the quality of life in the Niger Delta communities. Across the region, the Commission has undertaken road construction, educational support programmes, healthcare initiatives, skills acquisition schemes, and various environmental projects designed to address the developmental deficits that have historically plagued oil-producing communities.
Critics are right to demand accountability and effective action whenever environmental disasters occur. Public institutions must remain responsive to citizens’ concerns, and affected communities deserve transparency in efforts to address ecological damage. Nevertheless, constructive criticism should be based on an accurate understanding of each institution’s statutory role.
Holding the NDDC responsible for functions outside its primary mandate risks diverting attention from those entities legally obligated to prevent, manage, and remediate oil spills.
Rather than assigning blame without a full appreciation of institutional responsibilities, stakeholders should encourage greater collaboration among oil companies, environmental regulators, state and federal authorities, community leaders, and development agencies, including the NDDC. Such collaboration offers the most practical pathway toward lasting environmental restoration and sustainable development in Bille Kingdom and the wider Niger Delta.
The people of Bille Kingdom deserve solutions, not confusion over mandates. As discussions continue, it is essential that all parties focus on facts, accountability, and coordinated action that delivers meaningful relief and long-term environmental recovery for affected communities.
Martins Ogolo
Public Affairs Analyst
martins.ogolo@yahoo.com
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