Naira Swap: ISWAP Gifts Commuters Cash

Reports from Borno says some gunmen suspected to be members of the Islamic State of West Africa Province (ISWAP) have distributed lots of old notes to commuters in the Lake Chad Basin ahead of the deadline of the Central Bank of Nigeria’s (CBN) cashless policy.

Some sources on Monday disclosed that the gifting sessions tool place around Mairari village, along the Maiduguri/Monguno highway on Saturday in Guzamala local government area of Borno State.

A source in Maiduguri revealed that the ISWAP members were dressed in military camouflage and drove two gun trucks.

A resident, Bakura Ibrahim, told emergency digest that the insurgents positioned themselves under a tree and stood by the roadside with bags of old naira notes.

“We left Monguno at about 12 noon. As we approached Mairari, there were no existing checkpoints in the area; we were apprehensive.

“They stopped us and asked if we were going to Maiduguri, then they started giving each person 100,000 old naira notes, but we could not believe it.

"They gave each occupant of the Golf Volkswagen,” Bakura said.

Another source added, “The group simply told us, 'If you think you can go to their banks and change it to new naira, go and do so; may Allah make it beneficial to you.”

Confirming this to AllNews Nigeria, a journalist from Maiduguri who did not want to be named said: "Yes, it's true."

He said some have reported collecting the cash of about ₦100,000.

Authorities, police or the state have not made comments on this.