The Shura Council of the Islamic State of the West African Province(ISWAP) has banned naira as a means of transaction for the illegal tax it collects from peasant farmers and fishermen.
This is as a result of the Nigerian government’s move to redesign and re-issue higher denominations of its currency.
According to the Central Bank of Nigeria, N200, N500, and N1000 notes will be reissued by December and by January 31,2023, the old notes will cease to be legal tender.
It was gathered that this move threw the ISWAP population in the Tumbus of Lake Chad into confusion.
Ibn Umar and Malam Ba’ana, the ISWAP Militant Commanders in charge of taxes and levies, who imposed the ban, said the people were only allowed to come through safe routes established by the terror group.
In exchange, ISWAP collects 1,500 West African CFA Francs, monthly taxes from the people who appear very willing to pay.
They have also secured trade routes for merchants, to enable them accesses foodstuffs, weapons, fuel and other logist
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