*Preamble*
As Nigeria Dropped Cashless that Had Worked, Crime and Criminal Activities Escalate with Reckless Abandon
Irra and Ilemona communities in Kwara State, Nigeria, have been issued a threat letter by armed bandits, warning of an impending attack.
The Oyun Local Government Area chairman, Akanbi Kamar Olarewaju, convened an emergency security meeting to address the situation, urging residents to remain calm and vigilant.
The threat letter claims the bandits have relocated from Kaiama Local Government and plan to attack Irra and Aho/Inaja axis.
The council is working with security agencies to authenticate the letter's credibility and ensure public safety.
This development is particularly concerning given Nigeria's recent history of banditry and kidnapping, which had decreased during the cashless policy implementation under President Muhammadu Buhari's administration.
The policy's success was attributed to reduced cash-for-ransom activities and corruption.
Nigeria's experiment with a cashless policy under President Muhammadu Buhari's administration yielded promising results in reducing cash-for-ransom activities, corruption, and extortion at roadblocks.
The policy, implemented in 2023, reduced corruption, and improve security.
During its implementation, the cashless policy showed significant benefits:
- *Reduced Kidnappings*: Cash-for-ransom activities decreased, making it harder for terrorists and bandits to operate.
- *Curbed Corruption*: Digital transactions reduced opportunities for corrupt practices by government officials.
- *Minimized Roadblock Extortion*: Cashless transactions reduced extortion by security agents at roadblocks.
However, the Supreme Court's decision to revert to a cash economy has led to a surge in criminal activities.
Bandits and terrorists have resumed their nefarious activities, issuing threat letters and attacking villages, as seen in Woro village on February 3, 2026.
The government often cites financial exclusion in rural areas as a reason for avoiding cashless policies.
However, this excuse is no longer valid, as rural areas are increasingly becoming more insecure, driving residents to urban areas and defeating the government's objective of rural development.
*For how long do we continue to run away from the solution while we complain about the cash-fueled pains and insecurities?*
It's time to revisit the cashless policy and address the challenges that led to its suspension. *Here are some recommendations:*
- *Improve Digital Infrastructure*: Enhance internet connectivity and digital payment systems in rural areas.
- *Financial Inclusion Initiatives*: Implement targeted programs to increase financial access for rural communities.
- *Awareness and Education*: Educate citizens about the benefits and security measures of digital transactions.
*Conclusion*
The cashless policy worked; let's revive it and tackle the underlying issues. Nigeria's security and economic stability depend on it.
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