November 12, (THEWILL) – Terror group, the Islamic State of the West African Province (ISWAP), has banned the use of Naira by farmers and fishermen for trade and payment of taxes in Lake Chad.
The development followed recent decision by the Central Bank of Nigeria (CBN) to redesign N200, N500 and N1000 notes.
Quoting an intelligence source, Zagazola Makama, a Counter Insurgency Expert and Security Analyst in the Lake Chad region, said the move by the Nigerian government to redesign the Naira notes, has thrown the ISWAP population in the Tumbus of Lake Chad into confusion as they will find it extremely difficult to change their money into the new currency notes.
The source further revealed that the terrorists now accept the West African CFA Francs as currency to transact business in the area.
ISWAP, the source said collects 1,500 West African CFA Francs monthly taxes from farmers and fishermen.
He added that the terrorists also banned all transits by Nigerian fishermen, herdsmen, and farmers through Marte, Abadam, and Gamboru Ngala to Lake Chad to prevent the Naira from their camps.
Ibn Umar and Malam Ba’ana, the ISWAP Militant Commanders in charge of taxes and levies, who reportedly imposed the ban, said the people were only allowed to come through safe routes established by the terror group through Bulgaram, Cikka, Guma, Maltam, Doron Liman and Ramin Dorina, villages in the Cameroon Republic.
They have also secured trade routes for merchants, to enable them access foodstuffs, weapons, fuel, and other logistics, the source added.
