The Federal Government is reportedly weighing a tighter cashless framework as part of efforts to curb kidnapping and ransom payments.
The Federal Government is considering the reintroduction of a stricter cashless policy as part of renewed efforts to combat kidnapping and other violent crimes across Nigeria.
Security sources familiar with the discussions said the proposal is being considered as a tool to make ransom payments more traceable and disrupt the financial networks that sustain kidnapping operations.
According to the sources, kidnappers and other criminal groups often prefer cash transactions because they are more difficult to track. Officials believe tighter monitoring of financial transactions could help security agencies identify and disrupt ransom payment channels.
The proposal reflects growing concern over the financial structures supporting criminal activity and the challenge of tracking large cash movements connected to ransom negotiations.
No official announcement has yet been made regarding the implementation timeline or specific measures that may accompany the proposed policy changes.