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, with criminal gangs targeting commuters, farmers, students, traditional rulers and rural residents.
He said Nigeria’s heavy reliance on cash transactions had continued to provide an easy channel for criminals to collect and move ransom payments without leaving digital traces.
Another security analyst, Mohammed Sani, described the proposal as a positive step, saying it could encourage electronic payments and improve the tracking of illicit funds.
He, however, warned that the success of the policy would depend on improved digital infrastructure, public trust in financial systems and strong enforcement, particularly in rural communities.
A financial expert, Chukwudi Ayogu, also cautioned that implementation would require robust banking infrastructure and 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, restricting the movement of the kidnappers.
“The operation has entered a critical phase. The criminals are under immense pressure and are finding it increasingly difficult to manoeuvre,” a security source said.
Intelligence reports also suggested that the abductors had become increasingly desperate, with investigators linking the killing of one abducted teacher to attempts to intimidate authorities.
The kidnappers had initially demanded the release of detained associates and ransom payments, but security pressure was said to have forced them to scale back some of their conditions.
Media reports have linked the attack to elements associated with Jama’atu Ansarul Muslimeena Fi Biladis Sudan, also known as Ansaru.
Security officials said ongoing operations were aimed at dismantling the network behind the attacks and securing the safe release of the remaining victims.
“We remain committed to ensuring that criminal groups have no safe haven anywhere in the country,” a senior security official said.
