Suspected members of the Islamic State of West Africa Province (ISWAP) have reportedly distributed huge amounts of old notes to scores of commuters in the Lake Chad Basin ahead of the deadline of the Central Bank of Nigeria’s (CBN) cashless policy.

The incident according to Daily Trust, occurred along Maiduguri/Monguno highway on Saturday, January 28, in Guzamala LGA of Borno State.

An eyewitness said that the ISWAP members were dressed in military camouflage and drove two gun trucks.

A resident, Bakura Ibrahim, said the insurgents positioned themselves under a tree and stood by the roadside with bags of old naira notes.

He said; “We left Monguno at about 12 noon. As we approached Mairari, there were no existing checkpoints in the area; we were apprehensive.

“They stopped us and asked if we were going to Maiduguri, then they started giving each person 100,000 old naira notes, but we could not believe it. They gave each occupant of the Golf Volkswagen.”

Another source said; “The group simply told us, “If you think you can go to their banks and change it to new naira, go and do so; may Allah make it beneficial to you.”

Meanwhile, Lagos traders have expressed deep worry over the current hardship they are faced with in recent times. According to businessmen and women, the Central Bank of Nigeria’s (CBN)’s recent policy is affecting their businesses, especially the recent redesign of the nation’s currency, the N200, N500, and the N1,000 notes.

In a chat with some of the traders at Mile 12 international market, Lagos state and they expressed their opinion on the burning issue in the polity. During this period, the shortage of Petrol and the deadline for the use of the old naira notes has become disturbing issue in the polity.

On Sunday, January 27th, the CBN extended the deadline by ten days (10), from Tuesday, January 31st through February 10th, but the traders are not satisfied with the development, they revealed how it is affecting their businesses and customers.




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