Naira Swap Policy May Affect Fight Against Boko Haram, ISWAP, Others –National Security Says

 

The National Security Adviser (NSA), Make.-Gen. Babagana Momguno ( retd) has said that the change of currency and cashless policy of the Central Bank of Nigeria (CBN) may affect the operations of troops fighting terrorism and insurgency.

 

 Nigerian troops have been fighting Boko Haram and ISWAP terrorists as well as other major threats to the country’s security.

Monguno disclosed this when he appeared before an Ad hoc Committee of the House of Representatives on change of currency and cashless policy on Thursday in Abuja, the News Agency of Nigeria reports.

Monguno, who was represented by the Head of Defence Unit, Rear Admiral Abubakar Mustapha, said that even in advanced countries, such policies could affect operations of troops if not well implemented.

“Because of the sensitivity of some of this information that will come and bordering on security, there are things we cannot say in the media.

“Globally, military operations, even in first world countries, such policies, if not well properly thought out, will affect some certain operations.

“Some of our soldiers are deployed in places where they cannot actually access digital means of paying for their daily subsistence; that is the main issue that NSA has been talking about.

“It is important that this committee sits down and articulates better ways of actually addressing these issues,” he said.

Earlier, the Chairman of the committee, Ado Doguwa (All Progressives Congress-Kano) said the committee was interested in knowing the implications of the policy on national security.

He said that the committee would interface with major stakeholders to determine the effect of the policy on the economy.

According to Doguwa, from what the committee had so far gathered, the policy posed a challenge to agriculture, economy and security.

He described the policy as unpopular among Nigerians, saying it has caused hardship and may affect the forthcoming general elections.

Doguwa adjourned the meeting to Friday, February 10 for the committee to meet with the Minister of Finance, leadership of the Nigerian Security Printing and Minting Company Plc and National Chairman of the Independent National Electoral Commission.