Terrorists Distribute Old Naira Notes Following Deadline Extension

ISWAP Storms B/Haram Enclave, Kills 6, Seizes Weapons (News Central TV)

Suspected members of ISWAP terrorist group were seen distributing old Nigerian Naira notes to commuters in the Lake Chad Basin region.

The move comes following the Central Bank of Nigeria’s (CBN) deadline for return of old notes for the new notes.

According to reports, the distribution took place in Mairari village along the Maiduguri/Monguno highway in Borno State, Northeast Nigeria.

The ISWAP members were seen dressed in military camouflage, driving two armed trucks, and handing out the old notes from bags they had positioned under a tree by the roadside.

This act is seen as a way for the terrorists to control the flow of currency in the region, disrupting the CBN’s efforts towards a cashless society.

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Meanwhile, Centre for the Promotion of Private Enterprise(CPPE) has called for an extension by a minimum of six months to allow for seamless currency swap exercise.

The CBN had earlier  extended the deadline for the depositing of the old N200, N500 and N1,000 in banks for new ones, till February 10, 2023.

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