Nigeria News

New Naira notes: ISWAP dumps Nigerian currency, asks farmers, traders to pay tax in CFAs

The Shura Council of the Islamic State of the West African Province(ISWAP) has banned naira as a means of transaction for the illegal tax it collects from peasant farmers and fishermen.

This is as a result of the Nigerian government’s move to redesign and reissue higher denominations of its currency.

According to the Central Bank of Nigeria (CBN), N200, N500, and N1000 notes will be reissued by December and by January 31,2023, the old notes will cease to be legal tender.

It was gathered that this move threw the ISWAP population in the Tumbus of Lake Chad into confusion.

According to the Zagazola Makama, a Counter Insurgency Expert and Security Analyst in the Lake Chad region, the insurgents switched to the West African CFA as currency of trade in the area.

ZagaZola claimed that the terrorists had also banned all Nigerian fishermen, herdsmen and farmers from sneaking into the Lake Chad through Marte, Abadam, and Gamborun Ngala in order to prevent the naira from reaching into the camps of the terrorists in the Lake Chad.

Ibn Umar and Malam Ba’ana, the ISWAP Militant Commanders in charge of taxes and levies, who imposed the 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.

In exchange, ISWAP collects 1,500 West African CFA Francs, monthly taxes from the people who appear very willing to pay.

They have also secured trade routes for merchants, to enable them accesses foodstuffs, weapons, fuel and other logistics.

The Nigerian authorities are yet to react to the latest development, but there have been denials from government that terrorists are not controlling any part of the country.

Attah Aaron

Attah Aaron has spent over six years with Idoma Voice. He writes on religion and health.

Recent Posts

Vivian Wilson: Elon Musk’s transgender daughter plans to leave US after Trump’s victory

Vivian Wilson, the 20-year-old transgender daughter of tech billionaire Elon Musk, has announced plans to…

8 hours ago

TCN reveals cause of National Grid collapse

The Transmission Company of Nigeria (TCN) has attributed Thursday's National Grid collapse to a sudden…

8 hours ago

The etymology of the FUHSO debacle By adakole Elijah

  The Federal University of Health Sciences, FUHSO, Otukpo, is currently embroiled in a maelstrom…

8 hours ago

Baltasar Engonga: Equatorial Guinea govt sacks official over leaked videos, names successor

Equatorial Guinea's President, Obiang Nguema Mbasogo, has appointed Zenón Obiang Obiang Avomo as the new…

10 hours ago

BREAKING: Military declares nine wanted for terrorism in Northeast

The Defence Headquarters (DHQ) has issued a wanted notice for nine individuals linked to terrorism…

10 hours ago

Lt. Gen Taoreed Lagbaja: Police to wear black bands for seven days to honour late COAS

The Inspector General of Police, Kayode Egbetokun, has instructed all police officers across the country…

10 hours ago