Cashless Policy Stopped Kidnapping in Weeks — Yet 416 Nigerians Remain in Captivity While Leaders Avoid the Solution That Worked

*Introduction*  

In January 2023, the Buhari administration introduced a cashless policy. The rollout was sudden. 

Many Nigerians faced hardship because banks, POS operators, and the public were not ready. 

But the policy had one clear security benefit: it shut down the cash flow that funds kidnapping and banditry.

Within weeks, violent crime dropped. Two decades of military operations had not achieved the same result. 

In April 2023, the Supreme Court ended the cashless policy. The Tinubu administration has not brought it back. Insecurity returned at full force. 

By April 2026, 416 people are still being held by kidnappers. The National Assembly is debating new tactics. Yet the one policy that worked is not on the table.

*What Happened When Cash Disappeared*

*Negative Results of the 2023 Cashless Policy:*

1. Many citizens suffered because the change was rushed and infrastructure was poor.

2. Small businesses and rural communities struggled to access money for daily needs.

Positive Results for Security:

1. *Kidnapping paused*: Bandits and terrorists stopped operations. They depend on cash ransom. They refused bank transfers because transfers leave a digital trail.

2. *Victims were released*: Criminals could not buy food, fuel, or supplies to hold large numbers of captives. Many victims were set free.

3. *Cash was dumped*: Some bandits abandoned cash on highways. When cash became hard to spend, holding it became a risk.

4. *Extortion checkpoints disappeared*: Corrupt security agents who mounted roadblocks for bribes pulled back. They avoided transfers that could expose them.

5. *Stolen funds were abandoned*: Corrupt civil servants left cash from bribes and stolen project funds in public places. Moving or hiding large cash became useless.

6. *Revenue theft was blocked*: Government collectors who diverted public funds got stuck. Diverting 75% of collections is easy with cash, but hard with traceable payments.

These gains came in weeks. Military action over 20 years had not solved the problem at this scale.

*What Happened After Cash Returned*  

In April 2023, the Supreme Court cancelled the cashless policy. Since then, kidnapping and banditry came back strong. The government response has focused on more troops, state police, forest rangers, JTF, and vigilantes. 

The problem remains. As of April 2026, the Senate reports 416 Nigerians are still in captivity. 

*Current Senate Debate on Security*  

The Senate is now demanding urgent action to rescue the 416 captives. Their proposals include:

- *Stronger military action*: Step up operations in hotspots like Kwara, Kebbi, Niger, and Kaduna.

- *Tougher laws*: Treat kidnapping as terrorism. Consider the death penalty for convicted kidnappers.

- *More accountability*: Investigate security failures, like why troops were withdrawn before schoolgirls were abducted.

- *Community support*: Ask local communities to share information and avoid helping criminals.

*The Missing Piece*  

The Senate is right to say “enough is enough.” Current strategies are not working fast enough. But the debate ignores one fact: the 2023 cashless policy already cut off the money that funds kidnappers. 

We are beating about the bush. More boots on the ground helps. But as long as cash ransom works, kidnapping will pay.

*Recommendations*  

To end kidnapping and free the 416 captives, Nigeria should:

1. *Bring back a planned cashless policy*: This time, roll it out in phases. Fix bank networks, expand POS access, and educate the public first.

2. *Target ransom payments*: Make it illegal for banks, POS agents, or fintechs to process suspected ransom. Flag and freeze accounts linked to kidnapping.

3. *Trace the money*: Use BVN, NIN, and transaction records to track and arrest sponsors of banditry. Cash hides them. Digital trails expose them.

4. *Protect citizens during transition*: Provide cash access points in rural areas and support for small traders while the system stabilizes.

5. *Combine cash limits with force*: Use military action to rescue captives while cutting off the cash that creates new ones.

*Conclusion*  

Kidnapping is a business. Cash is its fuel. In early 2023, we proved that removing cash stops the business. Victims were freed without firing a shot.

Since cash returned, victims returned to the bush. We now have 416 reasons to act. Military raids, new laws, and forest guards are useful. But they treat symptoms. 

If we are serious about security, we must attack the root: the cash economy that pays kidnappers. The government should stop avoiding what worked. Bring back a better-planned cashless system, and bring our people home.

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