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Currency: Scarcity Of Low Denomination Hits PH

Director-General, National Power Training Institute of Nigeria (naptin), Mr Reuben Okeke (left), and the representative of the Minister of Power, Mrs Grace Papka, at the induction of naptin’s graduate skills development trainees in Abuja last Thursday.
Photo: NAN
Scarcity of low denomination of the naira currency has created financial crisis in Port Harcourt, the Rivers State capital as transporters and traders who are seriously affected by the crisis are calling on the Central bank of Nigeria (CBN) to make available lower denominations to ease commerce, according to investigations by The Tide.
A petty trader, Betty Eche, told The Tide in Port Harcourt her experience. She said, “what you see everywhere today is one thousand and five hundred Naira note. No small money again to give change or buy small things.”
According to her, scarcity of lower denomination has led to a situation where everybody is looking for change for whatever you sell or buy, adding that this has led to quarrels and even fights in some cases, and lamented that the ugly situation has resulted in low patronage of customers.
Another respondent, John Ebi, a bus driver said the low denomination crisis was affecting transport business as the bus conductors demand for N50.00 or N100.00 which are hardly available.
He said; “Before a bus conductor welcomes any commuter, he must first advise you to hold your ‘change’ or disembark”, explaining that the situation has resulted in more suffering for the people.
“You can see a lot of people trekking. It’s not that they don’t have money to pay but because they don’t have smaller denominations like N50, N100 or even N200”, he said.
A team of Central bank of Nigeria (CBN) officials who visited Rivers State recently on consumer protection awareness campaign had linked the scarcity of low denominations to the ATM machines.
Leader of the team and Head, Consumer Education and Protection Department, Hajiya Khadijah Kasim said the same volume of Naira notes of either denominations feeds the machines and that banks consider it easier to stock the machines with more money value.
According to her, the banks now consider feeding their machines with N1000 or N500 notes than lower denominations.
Our reporter who monitored the development said fights amongst commuters and petty traders and their customers has become common.
He said unless CBN checks the situation, the problem may escalate as traders and customers increase their transaction for the Christmas and New Year season.
News
PDP Kicks As APC Wins FCT Council Polls
The Peoples Democratic Party (PDP) has inaugurated a special legal team to handle election petitions arising from last Saturday’s Area Council elections in the Federal Capital Territory.
This comes as the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.
The Tide reports that the council elections were held on Saturday, February 21, 2026, across all six FCT area councils, including Abaji, AMAC, Bwari, Gwagwalada, Kuje, and Kwali.
Results announced so far by the Independent National Electoral Commission (INEC) show that the All Progressives Congress (APC) won in Abaji, Kwali, AMAC, and Bwari Area Councils, while the PDP secured victory only in Gwagwalada.
In a statement issued yesterday by PDP’s National Publicity Secretary, Ini Ememobong, the party congratulated its candidates, who emerged winners in the chairmanship and councilor elections.
The opposition party acknowledged the victories, noting that the number of wins was lower than expected but significant given the alleged irregularities during the polls.
“We specifically congratulate the Chairman-elect of Gwagwalada Area Council, Mohammed Kasim, and the councillors who have been declared successful by the Independent National Electoral Commission (INEC).
“This victory, though less in number than we anticipated, is particularly gladdening because it is against the background of unprecedented intimidation, high-powered money politics, and brazen executive brigandage,” the statement read.
Ememobong claimed that there are reports and video evidence indicating voter intimidation and unlawful conduct that influenced the outcome of the elections.
“Reports and video evidence abound where armed security personnel were used to cart away result sheets in polling units, intimidate voters, and unduly influence the outcome of the elections.”
To address complaints and litigations arising from the polls, he said the party has set up a legal team headed by its National Legal Adviser, Shafi Bara’u, Esq.
The statement urged candidates with legitimate grievances to contact the Legal Adviser promptly, as delays could jeopardise their chances in election petition cases.
“The incredible voter apathy in these polls is a direct response to the anti-people Electoral Act 2026, where the people have completely lost faith in the electoral outcomes from elections conducted under this Act.
“These Local Council polls may just be a foreshadowing of the forthcoming general elections in 2027 if changes are not urgently made,” the statement added.
The PDP called on the National Assembly and the President to take corrective action to safeguard the integrity of Nigeria’s democracy.
News
S’Court Gets New Justice As CJN Swears In Oyewole, Wednesday
The Chief Justice of Nigeria, Kudirat Kekere-Ekun, will on Wednesday swear in Justice Joseph Oyewole as a Justice of the Supreme Court of Nigeria.
The ceremony is scheduled to be held at 2pm at Courtroom Two of the Supreme Court complex in Abuja.
The court urged guests to adhere strictly to the court’s protocols and security measures.
This was contained in a statement issued yesterday by the Supreme Court’s Director of Information and Public Relations, Dr Festus Akande.
The court described Oyewole’s appointment as a step towards reinforcing the capacity of the apex court to deliver fair and timely judgments.
Recall that Oyewole was, until his elevation, a Justice of the Court of Appeal and Presiding Justice of the Enugu Division, and joins the apex court bench as part of ongoing efforts to strengthen the judiciary.
The National Judicial Council recommended Oyewole for the position alongside 35 others for various judicial offices, following its 110th meeting held on January 13, 2026, and presided over by Justice Kekere-Ekun.
The statement partly read, “The Chief Justice of Nigeria, Hon. Justice Kudirat Kekere-Ekun, GCON, will on Wednesday, 25th February, 2026, preside over the swearing-in ceremony of the newly appointed Justice of the Supreme Court, Hon. Justice Joseph Olubunmi Kayode Oyewole, JCA.”
According to the statement, Oyewole served with distinction at the Court of Appeal and as Presiding Justice of the Enugu Division prior to his elevation.
“His appointment underscores the commitment of the Nigerian judiciary to upholding the rule of law, ensuring justice, and strengthening the bench with experienced and dedicated jurists. He brings a wealth of legal expertise and integrity to the apex court to further enhance its capacity to deliver fair and timely judgments,” the statement added.
The apex court further described the swearing-in as “another significant step in rejuvenating the judiciary and ensuring the continued delivery of justice in line with the highest standards of integrity, competence, and impartiality.”
The Supreme Court reiterated its commitment to justice, fairness and judicial independence for the benefit of Nigerians.
News
Fubara Mourns Senator Mpigi
Rivers State Governor, Sir Siminalayi Fubara, has expressed deep shock and sadness over the sudden passage of Senator Barinada Mpigi, the Senator representing South East Senatorial District of Rivers State.
In a tribute to mourn the deceased, Governor Fubara described Mpigi as a brother, a consummate politician and one of the leading lights in Rivers State.
He said that Mpigi died at a critical time when his services were still needed by the people of Rivers State and prayed God Almighty to grant him eternal rest.
The governor commiserated with his immediate family, the Rivers South East Senatorial District and the Senate at large, asking them to take solace in the fact that the deceased lived a good life and impacted positively on the people.
Senator Mpigi died at the age of 64. Until his death, he was the Chairman of the Senate Committee on Works.
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