The Bola Ahmed Tinubu-led Federal Government is considering the reintroduction of a stricter cashless policy as part of renewed efforts to curb kidnapping and other violent crimes across the country.
According to Leadership, security sources said the proposal is being reviewed alongside intensified military and intelligence operations aimed at dismantling kidnapping syndicates and cutting off their financial lifelines.
Top security officials disclosed that the renewed cashless framework is intended to make ransom payments more traceable and reduce the ease with which criminal groups move money through cash-based transactions.
One of the sources said kidnappers deliberately demand cash payments to avoid detection by security and financial intelligence agencies.
> “Criminals prefer to receive ransom payments in cash because the money cannot be traced. Once ransom is paid through the banking system, it becomes easier to track them,” the source said.
The official added that a stricter cashless regime would improve intelligence gathering and strengthen the capacity of law enforcement agencies to monitor suspicious financial flows linked to kidnapping networks.
Security expert Iyke Odife said kidnapping for ransom had become one of Nigeria’s most pressing security challenges, noting that criminals often exploit the country’s dependence on cash transactions.
Another analyst, Mohammed Sani, described the proposal as a positive step that could boost electronic payments and improve tracking of illicit funds, but warned that success would depend on digital infrastructure and public trust.
Financial expert Chukwudi Ayogu also cautioned that implementation would require expanded financial inclusion to avoid excluding rural populations with limited access to banking services.
Meanwhile, there are indications of renewed optimism over the possible rescue of 39 schoolchildren and seven teachers abducted in Oriire Local Government Area of Oyo State.
Security sources said troops and other agencies had tightened a security cordon around a section of the National Park forest where the victims are believed to be held.
The victims were abducted on May 15, 2026, when armed men attacked Baptist Nursery and Primary School in Yawota and two other nearby schools.
Sources said ongoing operations had blocked key escape routes within the forest, putting pressure on the abductors.
Intelligence reports also linked the attack to elements associated with Jama’atu Ansarul Muslimeena Fi Biladis Sudan (Ansaru), while security officials said efforts were ongoing to dismantle the network and secure the victims’ release.
