FG Weighs Return to Cashless Policy to Trace Kidnap Ransoms

The federal government is considering reintroducing a cashless policy to make ransom payments more traceable and limit kidnappers’ use of cash. Security sources say kidnappers prefer untraceable cash, so a stricter electronic framework would help law enforcement monitor suspicious transactions. Experts warn this will require better digital infrastructure and public trust in banking systems, especially in rural areas. In Oyo State, troops and security agencies have tightened operations around the forest in Oriire LGA, where 39 schoolchildren and seven teachers were abducted in May. The cordon has hampered kidnappers’ movement and increased pressure on their network. Intelligence reports link the attack to elements of Ansaru. Officials remain optimistic that combining a cashless approach with intensified security action will lead to the safe rescue of the victims and dismantle the syndicates.

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