Naira redesign: Terrorists demand foreign currency from farmers, traders

The Shura Council of the Islamic State of the West African Province(ISWAP) has reportedly asked peasant farmers and fishermen in the areas under 'jurisdiction' to desist from paying their taxes in the Nigerian currency, Naira.

This is coming on the heels of the decision by the Central Bank of Nigeria (CBN) to redesign and reissue three higher denominations of the Naira.

Recall that CBN Governor, Godwin Emefiele, had announced that starting from the 15th of December, 2022, three redesigned series of the Naira, including N200, N500, and N1,000 notes, will be introduced to the circulation while the old notes will cease to be legal tender from 31st of January, 2023.

ISWAP in disarray: According to a Daily Trust report, this new currency policy by the Nigerian government has plunged the ISWAP population in the Tumbus of Lake Chad into confusion.

Zagazola Makama, a Counterinsurgency Expert and Security Analyst in the Lake Chad region, reportedly said, to cushion the effect of the CBN policy, the insurgents have decided to switch to the West African CFA as currency of trade in the area.

According to Zagazola, the terrorists had also banned all Nigerian fishermen, herdsmen and farmers from sneaking into the Lake Chad through Marte, Abadam, and Gamboru Ngala in order to prevent the naira from circulating into the camps of the terrorists in the Lake Chad.

ISWAP Militant Commander in charge of taxes and levies, Ibn Umar and Malam Ba’an, who imposed the Naira ban said the people were only allowed to come through safe routes established by the terror group – Bulgaram, Cikka, Guma, Maltam, Doron Liman and Ramin Dorina villages in Cameroon Republic, Daily Trust added.