
News
Yuletide: Naira scarcity bites harder as banks shun CBN threat
Days after the Central Bank of Nigeria ordered Deposit Money Banks to guard against artificial cash scarcity in the country, the disturbing trend still persists in some parts of the country.
In a circular dated November 29, jointly signed by Acting Directors Solaja Olayemi (Currency Operations) and Isa-Olatinwo Aisha (Branch Operations), the CBN outlined measures aimed at improving cash availability.
According to the circular, the CBN directed banks to ensure efficient cash disbursement through both Automated Teller Machines and over-the-counter channels, warning of penalties for non-compliance.
The apex bank also urged customers experiencing challenges to report incidents with details such as account name, bank name, transaction amount, and date. Dedicated phone numbers and email addresses were released for Nigerians to report difficulties accessing cash.
However, as of Friday, Nigerians in some major cities lamented that they still experienced significant difficulty obtaining sufficient cash over the counters and at ATMs in some commercial banks.

An Abuja resident, who declined to be named, said his bank only dispensed N5,000 over the counter on Friday.
When asked whether this was a bank-wide directive, she stated that it might be due to the limited cash available, adding that customers were often advised to use ATMs.
He said, “As of Friday, it was just N5,000. But if the ATM is loaded, you can withdraw as much as it dispenses. That’s probably all the bank could afford on Friday. Most times, customers are advised to use the ATM, which dispenses fresh mints.”
Similarly, a United Bank for Africa customer in Abuja said his bank dispensed N20,000 over the counter, while ATMs dispensed N20,000 to customers and N10,000 to customers of other banks as of Friday.
A Zenith Bank official in Delta State revealed that their branch paid a maximum of N20,000 to customers, both over the counter and through ATMs.
“It’s N20,000 maximum. The ATM also dispenses N20,000,” she stated.
A Lagos resident, Tunde Ajiboye, shared on Facebook that he withdrew N20,000 from a GTBank ATM in Ikorodu and later withdrew another N30,000 over the counter at Lotus Bank, also in Ikorodu, on Friday afternoon.
In Akure, Ondo State, the cash crunch was also pronounced. A resident, Oluwaseyi Oluwalade, said he visited an ATM terminal in Akure but couldn’t withdraw any cash.
“I rushed to a PoS operator, but I still didn’t get cash. I was asked to make a transfer, which I did on Friday, but I could only collect the cash on Saturday afternoon,” he lamented.
Another Akure resident, Adeniyi Samuel, who works for OPay, confirmed complaints from PoS operators about insufficient cash in banks.
“Many of our operators rely on filling station attendants or BDC operators to get cash because banks give very little over the counter or at ATMs,” he explained.
In Imo State, residents also decried withdrawal limits.
A resident, who asked to be identified only as Onyekachi, said, “We cannot withdraw more than N20,000 in the banking hall. You spend so much time, only to be given a maximum of N20,000. It’s frustrating.”
A similar scenario unfolded in Abia State, where banks limited withdrawals to between N5,000 and N20,000. ATMs dispensed as little as N5,000 to non-customers and N10,000 to customers.
In Kwara, residents also struggled to access cash.
Ibrahim Taiwo, a resident of Ilorin, said banks paid a maximum of N10,000 over the counter and N40,000 at ATMs. He noted that PoS operators increased their charges by N50 across withdrawal amounts.
In Osun and Oyo states, withdrawal limits varied between N10,000 and N50,000, depending on the bank and location.
Reacting to the situation, a source at the CBN accused some banks of favouring high-end customers by giving them bulk cash at the expense of ordinary Nigerians. The source assured that the CBN was committed to penalising erring banks.
However, a banker in Ogun State accused the CBN of being insincere, claiming, “The amount given to us is not enough to load ATMs for two days.”
A Polaris Bank staff member in Lagos linked the scarcity to the naira redesign policy under former CBN Governor Godwin Emefiele. He noted that the policy destroyed old naira notes but failed to replace them with adequate new notes, leading to persistent scarcity.
“People are skeptical about depositing money in banks, fearing a repeat of last year’s issues. This is affecting the availability of cash,” he concluded.
The National President of Association of Mobile Money and Bank Agents in Nigeria, Fasasi Atanda, accused petrol stations, supermarket operators, traders, and other businesses that handle large volumes of cash daily of contributing to the current cash scarcity.
Atanda alleged that instead of depositing their cash earnings into banks as expected, those entities hoarded the money and sold it at inflated rates to cash dealers.
“There is no reason for cash scarcity if there are no saboteurs. There is cash commoditisation. Today, we have saboteurs who are dealing in the sale of cash. They sell cash in bulk; they have their sources, and they buy in bulk and sell. What you can’t get in the banks, you will get from cash dealers.
“We are aware of petrol stations, restaurants, supermarket operators, and others selling their cash instead of depositing it in banks.
“People often wrongly accuse agents of selling cash. Agents are not selling cash, we are servicing the people and the charges are for the cost of data and transportation. In reality, if the government can take care of these costs, agents can render their services free of charge,” Atanda said.
He urged the CBN to engage PoS operators as official agents of cash distribution, adding that this would address the challenge of cash scarcity in the country.
The acting Director of Corporate Communications for the CBN, Mrs. Hakama Sidi Ali, did not respond to calls and a text message sent to her phone as of press time. (PUNCH)
News
BREAKING: Court Nullifies Atiku’s ADC Presidential Ticket, Removes David Mark-Led Leadership
The Federal High Court in Abuja has nullified the leadership of the African Democratic Congress (ADC) led by Senator David Mark, declaring its actions and decisions on behalf of the party invalid.
The ruling also affects the emergence of former Vice President Atiku Abubakar as the ADC’s presidential candidate for the 2027 general election, as the party’s primary was conducted under the leadership declared unlawful by the court.
Atiku, whose name had earlier appeared on the list of presidential candidates published by the Independent National Electoral Commission (INEC), had reportedly picked former Rivers State Governor, Rotimi Amaechi, as his running mate.
Delivering judgment on Thursday, Justice Peter Lifu declared unlawful the caretaker committee led by Mark, which organised the party’s presidential primary that produced Atiku as its candidate.
The judgment followed a suit filed by Nafiu Bala Gombe, a former ADC National Deputy Chairman (North-East), who challenged the process through which the Mark-led group assumed control of the party.

Gombe argued that following the resignation of the former National Chairman, Chief Ralph Nwosu, he was constitutionally entitled to assume leadership of the party.
He consequently approached the court, seeking to invalidate the activities and decisions taken by the Mark-led leadership on behalf of the ADC.
The defendants in the suit, marked FHC/ABJ/CS/1819/2025, included the ADC, INEC, Senator David Mark, former Osun State Governor, Rauf Aregbesola, and Chief Ralph Nwosu.
The plaintiff also sought an order restraining Mark and Aregbesola from parading themselves as the party’s National Chairman and National Secretary, respectively, insisting that their appointments violated the ADC constitution and relevant provisions of the Electoral Act.
Justice Lifu upheld the plaintiff’s arguments and granted the reliefs sought.
The decision is expected to trigger fresh political uncertainty within the ADC, particularly as political activities intensify ahead of the January 16, 2027 presidential election.
However, the party has indicated its intention to challenge the judgment at the Court of Appeal.
The ADC National Welfare Secretary, Nkemakolam Ukandu, who was subsequently joined in the proceedings as an interested party, confirmed that the party would appeal the ruling.
News
Ebonyi Gives Occupants 30-Day Ultimatum to Vacate Defective Building
The Ebonyi State Government has issued a 30-day ultimatum to occupants of a structurally defective building at No. 10 Aguluezechukwu Street, Abakaliki, directing them to vacate the premises over serious safety concerns.
The directive was issued by the Ministry of Capital City and Urban Planning following an on-site assessment led by the Commissioner, Richard Ugo Idike, alongside the Head of the Town Planning Department, Esther Nwite, other town planners and the ministry’s enforcement task force.
During the inspection, Idike expressed concern over visible structural defects and substandard construction, describing the building as an imminent threat to lives and property.
“The state government will not compromise on the safety of residents. Our ministry remains committed to ensuring that all structures across Ebonyi State strictly adhere to approved building codes and regulatory standards,” Idike said.
He explained that the 30-day notice would give the property owner time to undertake the necessary structural remedial works to prevent a possible collapse, while allowing occupants sufficient time to secure alternative accommodation.

“This notice is necessary to avert building failure and protect human lives. Occupants must make alternative arrangements before the expiration of the deadline to avoid tragic outcomes,” the commissioner added.
Idike said the ministry would intensify monitoring and enforcement activities across the state capital to identify unsafe structures, warning that properties found to be in violation of building regulations would face prompt regulatory action.
He said the exercise was in line with the urban renewal and public safety agenda of the Ebonyi State Government under Governor Francis Ogbonna Nwifuru to ensure an orderly and secure capital city.
The ministry’s task force also urged property owners, developers and builders across the state to adhere strictly to approved building plans, engage certified professionals and use quality construction materials to prevent structural failures.
Occupants of the affected building are expected to comply with the evacuation directive within the stipulated 30-day period.
News
NJC Suspends Three Judges, Cautions Eight Others Over Misconduct
The National Judicial Council (NJC) has suspended three judicial officers for one year without pay and cautioned eight others over various acts of misconduct, including unlawful detention of litigants, abuse of judicial powers and disregard for due process.
The Council, chaired by the Chief Justice of Nigeria, Justice Kudirat Kekere-Ekun, also approved warning letters for three judges following investigations into petitions concerning their handling of cases.
The decisions were taken at the NJC’s 112th meeting held on November 3, 2026.
The three suspended judicial officers are Justice Hannatu Mohammed Kabir of the Nasarawa State High Court, Grand Kadi Mohammed Sani Salihu of the Jigawa State Sharia Court of Appeal and Justice Sobere Biambo of the Rivers State High Court.
Justice Kabir was suspended for ordering the arrest and detention of a litigant for 58 days over alleged disobedience of a court order without initiating proper contempt proceedings or serving the mandatory Forms 48 and 49.

The Council also barred her from being considered for elevation for three years, holding that her actions violated the litigant’s right to a fair hearing.
Grand Kadi Salihu was suspended over his involvement in reopening a judgment delivered by the FCT Upper Area Court.
The investigation found that he exceeded his judicial authority by constituting a committee to review the judgment and subsequently assigning the matter to another judge, who received fresh evidence and delivered a new judgment.
The NJC held that the process amounted to an appeal against a valid judgment delivered by a court of competent jurisdiction.
Justice Biambo was sanctioned for ordering the arrest of litigants and imposing fines of N300,000 each in a civil dispute without following proper contempt proceedings or serving the prescribed forms.
Both Grand Kadi Salihu and Justice Biambo were also barred from consideration for elevation for three years.
The Council also cautioned Justice Kayode Agunloye of the FCT High Court over his handling of post-judgment garnishee proceedings in a suit involving First Bank of Nigeria Plc.
It found that he granted a fresh ex parte application for a Garnishee Order Nisi after an earlier similar application had been withdrawn and struck out, while other pending applications, including an application for a stay of execution, were awaiting hearing.
In another set of disciplinary decisions, the NJC approved warnings and cautions for other judicial officers, including Justice Bello Kawu, who granted interim bail to former Attorney-General of the Federation, Abubakar Malami, despite an existing remand order issued by another judge.
Justices Danjuma Oyigbenu and Isa Ebini Kana were also issued warning letters for delivering judgment in an appeal outside the constitutionally prescribed 90-day period.
Other judicial officers cautioned or placed on the Council’s Watch List include Justice Mohammed Zubairu of the FCT High Court, for making orders after being informed that an appeal had been entered at the Court of Appeal.
Justice C. A. Ogbuagor of the Enugu State High Court was also cautioned for continuing proceedings despite a pending appeal and an application for a stay of proceedings.
Similarly, Justice Chibuike Azuama of the Imo State High Court was cautioned for granting an ex parte garnishee order freezing the accounts of Puma Energy, a company that was not a party to the substantive suit.
The NJC also considered 35 petitions referred by its Preliminary Complaints Assessment Committees. It dismissed 24 for lack of merit, recommended four for further investigation and placed one in abeyance because the matter was sub judice.
The Council further directed that investigations should continue into a petition against Justice G. N. Ugbala of the Ebonyi State High Court despite the petitioner’s notice of withdrawal.
Meanwhile, the NJC recommended 28 candidates for judicial appointments across several states.
The recommendations include 24 judges for the High Courts of Kano, Ebonyi, Edo, Adamawa and Ogun States; a Grand Kadi for the Plateau State Sharia Court of Appeal; a Kadi for the Adamawa State Sharia Court of Appeal; and two judges for the Adamawa State Customary Court of Appeal.
The Council also directed the Imo State Judicial Service Commission to include the name of the Acting Chief Judge, Justice Ijeoma Agugua, in the shortlist for appointment as substantive Chief Judge, following a petition challenging her exclusion.
In addition, the NJC approved the retirement notifications of six judicial officers, including two Justices of the Supreme Court.
It also expressed condolences over the deaths of nine judicial officers between May and September 2026.
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