The Federal Government is considering the return of a stricter cashless policy as part of efforts to curb kidnapping and cut off the financial lifelines of criminal gangs across Nigeria.
Security sources said the proposal is being reviewed alongside intensified military and intelligence operations targeting kidnapping syndicates. Officials believe digital transactions would make ransom payments easier to trace and help investigators track suspicious financial flows.
Experts backing the move say Nigeria’s heavy dependence on cash has allowed criminals to collect and move ransom money with little risk of detection. However, analysts warned that stronger banking infrastructure and wider financial inclusion would be needed for effective implementation.
According to Naija News, security agencies are also intensifying efforts to rescue abducted schoolchildren and teachers being held in Oyo State.
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