May 28, 2023

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Army Gives Thumb Up to Naira Policy

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CEM REPORT, SECURITY | The naira redesign policy has strengthened the fight against terrorism in the country, the Nigerian Army has said.

The Army explained that owing to the naira redesign policy by the Central Bank of Nigeria, terrorists are now finding it difficult to access cash.

They added that terrorists have resorted to kidnapping, seeking ransom in cash and requesting foodstuff from their victims.

This was disclosed by Maj-Gen. Ibrahim Ali, Theater Commander, North East Joint Task Force, Operation Hadin Kai (OPHK), during a meeting with the Nigerian Union of Journalists (NUJ).

“The terrorists who had been exposed to hard living conditions have resorted to kidnapping, seeking ransom in cash and requesting foodstuff from their victims.

“The terrorists had also resorted to propaganda on social media in their desperate attempt to remain relevant.”

The statement by the Commander raises eyebrows as several northern governors have maintained that the cash policy which has led to cash scarcity has made it difficult for them to provide security for their citizens as payment for such is made in cash.

[READ ALSO] CBN’s Naira Redesign Policy and its Debated Impact on Inflation

Recently the National Security Adviser (NSA), retired Maj-Gen. Babagana Monguno commenting on the naira redesign policy stated that the policy is mitigating against the fight against insecurity.

He noted that Nigerian soldiers who are deployed in remote areas do not have access to digital (cashless means) of paying for daily subsistence. He said:

 

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