New Naira: ISWAP Now Demanding All Payment Be made In CFA

The Shura Council of the Islamic State of the West African Province (ISWAP) has outlawed the use of the Naira as a medium of exchange for the unlawful tax that it levies on peasant farmers and fishermen as a result of the planned redesign of the Naira.

Insurgents in the Lake Chad region, according to Zagazola Makama, a counterinsurgency expert and security analyst, have shifted to using the West African CFA as a form of exchange.

In order to stop the naira from reaching the terrorists’ camps in the Lake Chad, it was also said that all Nigerian farmers, herders, and fisherman are not permitted to enter the lake illegally through Marte, Abadam, or Gamborun Ngala.

The ISWAP Militant Commanders in command of taxes and levies, Ibn Umar and Malam Ba’ana, who enforced the embargo, said that only the villages of Bulgaram, Cikka, Guma, Maltam, Doron Liman, and Ramin Dorina in the Cameroon Republic are secure entry points.

In return, ISWAP collects monthly taxes from the persons who seem extremely eager to pay in the amount of 1,500 West African CFA Francs.

In order to provide traders access to supplies like food, guns, gasoline, and other logistics, they have also secured trade routes for them.

According to Daily Trust, the Nigerian government has not yet responded to the development.