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Naira Scarcity: Sokoto, Zamfara, Katsina Border Residents Trade in CFA
Residents of border communities in states including Sokoto, Zamfara, Katsina, Adamawa and Kwara have opted for the CFA franc following the scarcity of the new naira notes across the country.
The residents, including traders and commercial drivers, are also rejecting the old naira notes, insisting that customers who do not have the new redesigned currency must pay for goods and services with CFAs.
The CFA franc is the legal tender in eight West African countries of Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, which make up the West African Economic and Monetary Union, otherwise known as the Union Économique et Monétaire Ouest Africaine.
Findings by The PUNCH indicated that businessmen and traders in the Zurmi and Shinkafi local government areas of Zamfara State, which border the Niger Republic, prefer the franc to the naira.
Investigation revealed that traders in the two LGAs had been selling their commodities in CFA due to fear that they might not get the new naira notes.
A cattle dealer, Musa Shehu, said he stopped receiving the Nigerian currency since the Central Bank of Nigeria announced the deadline for the swap of the N1,000, N500 and N200 notes.
He stated, “I have since stopped receiving the old naira notes because I don’t have an account and I can’t go to the bank.”
A trader in Shinkafi town, who shuttles between Nigeria and Niger Republic, explained that most of his customers paid with the CFA.
“I cannot collect old naira notes and give out my commodities to any customer. But I will collect new naira notes and CFA because I am afraid of losing my money if the time for the exchange expires,’’ the trader, who spoke on condition of anonymity, said.
A grain seller in Dada village in Zurmi Local Government, Muhammadu Isa, disclosed that he stopped selling grains in the Nigerian currency after the CBN’s policy on new naira notes was unveiled.
He said that he sold only to those who possessed CFAs to avoid losing money as ‘’my father did in 1983 when the naira notes were hurriedly changed by the then Major General Muhammadu Buhari regime.’’
Isa explained that his late father lost all his money when Buhari changed the national currency in 1983.
The grain trader insisted that he would not accept the old naira notes as there was no bank or Point of Service terminal in his community where he could withdraw the new currencies.
“You see since our people and those from the Niger Republic are coming to buy the grains with the CFA, I see no reason why I should collect old naira notes. If anybody wants to buy grains from me, he must pay in CFA or forget it. I will not collect old naira notes because I don’t know what to do with them after the expiration of the deadline,” he noted.
In a related development, commercial drivers who ply the Niger Republic from Zurmi and Shinkafi LGAs have also stopped collecting the old notes.
They justified their decision with the argument that the CFA was the only legal tender accepted by the people along the Nigeria-Niger borders.
A driver, Alhaji Hamisu, stated that passengers had to pay in CFA if they wanted to travel to the Niger Republic or return to Nigeria ‘’because the old naira notes are unacceptable as legal tender.’’
Hamisu said, “I have on several occasions refused to collect the old naira notes from my passengers because I have no time to go to the bank or PoS to get the new notes.
“Another problem is that you can’t buy fuel with the old naira notes in Niger republic; as such, no commercial driver on cross-border journeys will agree to take the old notes from passengers.
“I was almost stranded in Malbaza town in Niger Republic when I wanted to buy fuel with the old naira notes because we have been doing so before the change of the Nigerian currency.
“I went to the filling station as usual and bought 30 litres of fuel and brought out the old notes but the fuel attendant told me that he would not accept the notes.
“I pleaded with him but he was not ready to collect the money from me. I was lucky as one of the commercial drivers, who is also my friend, came to buy fuel and he had enough CFAs. I bought the CFA from him and settled the fuel attendant.”
The Punch
Adebayo Adelabu, one of the aspirants for the All Progressives Congress (APC) ticket in Oyo State, has alleged irregularities in the party’s governorship primary election held on Thursday.
Adelabu, who expressed dissatisfaction over the conduct of the exercise, stated that the primary was characterized by misconduct ranging from disenfranchisement of his supporters in some wards and the commencement of election process earlier than scheduled.
Speaking after the conclusion of the primary election at IMG School, Ward 9, Ibadan South-East Local Government Area, the immediate past Minister of Power alleged that the process was neither free, fair nor credible.
He said: “Before our people started getting to their various wards, they have already conducted the election and they wrote the figures they want as results.
“In some wards, our people were prevented from voting. They were intimidated. They were chased away violently. And in some wards, voting did not take place at all.
“All this kind of misconduct is not good at this stage of our democracy in Nigeria, and something has to be done about it.”
Adelabu, therefore, vowed to come up with serious petitions against all the irregularities not just in Ibadan, but across all the five geopolitical zones in Oyo State.
“Also, conduct of many party executives is uncalled for, a lot of people bought forms and they were cleared. And they decided to conduct affirmation of a particular candidate in some wards.
“There was nothing like consensus arrangement. It was just a figment of their weird imagination. The instruction we got from Abuja was that we should all carry out free, fair, and transparent direct primary election where every aspirant will be given a level playing ground and the election will be conducted peacefully.
“Where did they get the idea of consensus candidates? And this is what happened in a lot of the wards. And it didn’t go down well with us. “We don’t want that. We are going to assess the gravity of this gross misconduct and the potential impact on the overall result of this election.
“I will put a petition forward to the appropriate authorities so that it can be deeply investigated and there must be consequences to this. The people who perpetrated this misconduct must be identified and punished. And the aspirants involved also need to be suspended because this is not good for us.
“Democracy is the government of the people by the people and for the people where nobody should be disenfranchised. Once you are a party member, you should have that freedom, that authority to pick an aspirant of your choice as the flag bearer of the party.
“This is Ibadan, this is Oyo State and this the centre of politics in the southwest. And we should be able to lay good examples and the process should produce a candidate that won transparently, freely and fairly,” he said.
Meanwhile, at Ward 9, Ibadan South-East Local Government, Adelabu, polled 430 to defeat his closest rival, Senator Sharafadeen Alli, who had 3 votes.
Al Nassr captain, Cristiano Ronaldo, has finally won the Saudi Pro League title.
They were confirmed champions on Thursday, thanks to a 4-2 drubbing of relegation battlers, Damac.
The title race had gone down to the final day after Al-Nassr dramatically dropped points against Al-Hilal the previous week.
Jorge Jesus’ side knew there could be no mistakes against a Damac side fighting for survival at the other end of the table.
Ronaldo was on the scoresheet, as his brace helped Al Nassr secure the title ahead of rivals Al Hilal.
Rivers State Governor, Siminalayi Fubara, has announced his withdrawal from the All Progressives Congress governorship primary election in the state.
Fubara made this known in a statement personally signed on Wednesday, saying he would support whoever emerges as the party’s candidate, The Nations reported.
The governor said his decision followed extensive consultations with his family, friends, and political associates.
“After deep reflection and extensive consultations with my family, friends, and associates, I have taken the difficult but necessary decision to withdraw from the APC governorship primaries. I do so with a full heart and with a firm commitment to support whoever emerges as the candidate of our great party,” Fubara said.
Fubara said although the decision was difficult, he remained committed to supporting whoever would emerge as the APC governorship candidate.
According to him, leadership demands sacrifice and personal ambition must sometimes give way to the collective interest of the people.
Meanwhile, the embattled governor expressed appreciation to his supporters for their loyalty, prayers and sacrifices throughout the political process, acknowledging that many would feel disappointed by his withdrawal.
He said his silence in recent weeks was “deliberate and strategic,” adding that it was guided by the higher interest of the state.
Tone Cole, APC chieftain and 2027 governorship aspirant in Rivers State, also announced his withdrawal from the race, saying his decision was, among other reasons, in the interest of the party’s unity.
