• About
  • Advertise
  • Contact
Thursday, May 29, 2025
  • Login
Vital News
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security
No Result
View All Result
Vital News
No Result
View All Result
Home Economy

Boko Haram Left Borno With Bank Branches In Two Out Of 27 Local Governments—Zulum

...directs opening of MFBs for residents to exchange new naira notes

Vital News by Vital News
January 27, 2023
in Economy
0
Boko Haram Left Borno With Bank Branches In Two Out Of 27 Local Governments—Zulum
Share on FacebookShare on Twitter

Borno State governor, Babagana Zulum says inly two of the 27 local governments in the state are left with banks as a result of the activities of Boko Haram militants.

Zulum, who disclosed this in Maiduguri during a stakeholders meeting new nara design and the exchange of new naira notes of N200, N500 and N1,000.

The governor said residents are facing the challenge of accessing the new notes.

The meeting held on Wednesday was attended by the Shehu of Borno, Abubakar Umar Garbai Elkanemi, represented by the Waziri of Borno, Mustapha Waziri Muktar.

Zulum ordered immediate establishment of branches of the state owned Renaissance Microfinance Bank as well as ICT centres across all the 27 councils to enable residents exchange their old notes for new ones.

RelatedStories

Sidi Ould Tah Elected New President Of AfDB

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

He specifically directed the State Ministry of Finance and that of Higher Education, Science, Technology and Innovation to work together to ensue immediate opening of branches of the microfinance banks.

The governor said the absence of banking services in 25 out of 27 Local Government Areas due to over 12 years of killings and destructions by Boko Haram insurgents has left economic activities of the rural areas in bad shape.

Zulum directed that branches of the microfinance bank should be established Monguno and Gwoza before this week runs out.

“At the moment we only have two LGAs with banking services and these are Maiduguri and Biu.

“The distance from most of the local governments to either Maiduguri or Biu is too long.

“Despite a great improvement of the security in Borno, there are still challenges for banks to start operations.

“Banking is a very delicate industry and I am sure none of them is willing to take the risk of establishing branches in our LGAs for now.

“Therefore, to support our people, Borno State Government has to take the risk. I have directed the ministry of finance to ensure the recapitalization of Borno Renaissance Microfinance Bank to qualify it to have the capacity to open branches in all the 27 LGAs.

“This I believe will greatly alleviate the suffering of our people,” he said.

Zulum also directed the Ministry of Finance to immediately come up with a template to organise and ensure people in rural communities deposit their old naira notes before the January 31 deadline.

“I have convened this meeting to discuss how our people in the villages can get easy windows of depositing their money to the bank accounts as stipulated in the CBN’s new policy.

“The Ministry of Finance is hereby directed to mobilise people and ensure nobody lost his money. You should facilitate ways through which people can voluntarily deposit their money into the banks in the remaining days,” Zulum explained.

Zulum also directed the Ministry of Higher Education, Science, Technology and Innovation to support mobile telecommunication providers towards improving their network coverage for internet connectivity across all 27 local government areas.

The meeting also had in attendance, members of the Borno State House of Assembly, Commissioners, Advisers, Local Government Chairmen and other critical stakeholders.

Tags: bankscentresIctnaira
Previous Post

Vehicle Importation Dropped By 40pct In 2022 – Customs

Next Post

EFCC Arraigns Aderibigbe , Ex-NSITF GM Legal Services For N60mln Fraud

Vital News

Vital News

RelatedStories

Sidi Ould Tah Elected New President Of AfDB
Economy

Sidi Ould Tah Elected New President Of AfDB

May 29, 2025
President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC
Economy

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

May 29, 2025
National Sports Festival’s Impact on Ogun Economy Massive – Abiodun
Economy

National Sports Festival’s Impact on Ogun Economy Massive – Abiodun

May 27, 2025
We Are Better Off Together, President Tinubu To Malian Leader
Economy

Poverty Alleviation: TMSG Hails FG’s Fast-tracked Cash Transfer To 15 million Vulnerable Households

May 19, 2025
Economy

Tinubu’s Nigeria First Policy, Unique, Revolutionary -TMSG

May 16, 2025
Next Post
EFCC Arraigns Aderibigbe , Ex-NSITF GM Legal Services For N60mln Fraud

EFCC Arraigns Aderibigbe , Ex-NSITF GM Legal Services For N60mln Fraud

Firm Tasks INEC, Parties On More Involvement Of CSO's In 2023 Elections

Adeleke Rejects Tribunal Verdict, Heads to Appeal Court

Adeleke Rejects Tribunal Verdict, Heads to Appeal Court

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recommended

Policy Uncertainty, Inflation To Slow Down Nigeria’s Economic Growth In 2023 — World Bank

World Bank Extends NG-CARES Programme In Nigeria

2 years ago
FUOYE And Fasina’s 4yrs Of Transformational Leadership By Joseph Andrew

FUOYE And Fasina’s 4yrs Of Transformational Leadership By Joseph Andrew

3 months ago
Student Loan Programme For Both Federal, State Institutions – NELFUND

NELFUND Disburses July Stipends To 20,371 Students In Six Institutions

10 months ago

Attackers Shot 27 Staff, Inflicted Enormous Damage On Obajana Cement Plant – Dangote Group

3 years ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

Topics

Abiodun Abuja APC arrest Atiku Bandits Bello Benue Buhari CBN Court Dangote death drugs Economy EFCC Election elections FG Fraud gunmen Hajj INEC Kano kidnap Kill Kogi Kwara Lagos NDLEA Niger Nigeria Ododo Ogun Oyo PDP Police Power refinery rescue road Security Senate students Tinubu
No Result
View All Result

Highlights

School Wall Collapses On Students Writing WAEC In Taraba

Army Armourer, 17 Other Soldiers, 15 Mobile Police Officers, Traditional Ruler Arrested For Selling Arms To Criminals

Islamic Cleric To Die By Hanging For Killing, Stealing N300,000 From Client In Osun

Emefiele Drags FG To Appeal Court Over Forfeiture Of 753 Units Of Houses In Abuja Estate

NDLEA Arrests Two Pilgrims Heading To Saudi Arabia With Cocaine

May 29 : Ododo Lauds President Tinubu’s Courage, Resilience, Inspiring Leadership

Trending

Sidi Ould Tah Elected New President Of AfDB
Economy

Sidi Ould Tah Elected New President Of AfDB

by Vital News
May 29, 2025
0

Sidi Ould Tah of Mauritania has been elected the new President of the African Development Bank (AfDB),...

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC

May 29, 2025
Midterm Performance : Taraba State Rated Least In IGR, Good Governance

Midterm Performance : Taraba State Rated Least In IGR, Good Governance

May 29, 2025
School Wall Collapses On Students Writing WAEC In Taraba

School Wall Collapses On Students Writing WAEC In Taraba

May 29, 2025
Army Armourer, 17 Other Soldiers, 15 Mobile Police Officers, Traditional Ruler Arrested For Selling Arms To Criminals

Army Armourer, 17 Other Soldiers, 15 Mobile Police Officers, Traditional Ruler Arrested For Selling Arms To Criminals

May 29, 2025
ADVERTISEMENT
Vital News

Vital News is an online newspaper with a mission to uphold professional journalism by reporting and publishing only facts and figures-based news reports across Nigeria and beyond.

Recent News

  • Sidi Ould Tah Elected New President Of AfDB May 29, 2025
  • President Tinubu Appoints Former Speaker, Yakubu Dogara As Chairman Of NCGC May 29, 2025
  • Midterm Performance : Taraba State Rated Least In IGR, Good Governance May 29, 2025

Categories

  • Agriculture/ Water/ Mineral
  • Aviation
  • Business
  • Crime
  • Culture
  • Economy
  • Education
  • Entertainment
  • Environment
  • Football
  • Foreign
  • Gender
  • Health
  • Judiciary
  • Labour
  • National
  • News
  • Oil & Gas
  • Opinion
  • Opinion
  • Politics
  • Power
  • Religion
  • Security
  • Sports
  • Transport
  • Uncategorized

© 2022 Vital News - . All Rights Reserved.

No Result
View All Result
  • Frontpage
  • Business
  • Economy
  • Politics
  • National
  • Opinion
  • Sports
  • More
    • Crime
    • Judiciary
    • Security

© 2022 Vital News - Vital News by Vital News.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In