Some security experts have said the purpose of the Central Bank on the new naira notes redesign might have been defeated following a viral video showing a notorious bandit kingpin, Kachalla Baleri, and his gang members flaunting new naira notes allegedly from a N10m ransom received from relatives of abductees, according to some defence blogs.
“But you see, the people they are referring to as terrorists have hold of the money. This is the new N1,000 note; this is the new N200 note. We are just showing them a little of what we have. We have plenty of sacks of the new money, and only Allah knows the amount of the new notes that we have.
Reacting to the development, a security expert, Timothy Avele, who spoke to one of our correspondents on Thursday, said, “The terrorists might have received the new naira notes from kidnapped victims’ relatives. This could partly defeat the purpose of redesigning the currency in the first place. “The truth is that, while the policy is generally good, there’s poor coordination and implementation. Many key stakeholders were not carried along, hence the hiccups being experienced in almost the whole country in getting the new naira to citizens.”
Another security expert, Patrick Agambu, said, “Since the terrorists, as seen in the video, are now in possession of the new notes, it shows that they got them from some bankers with whom they’re dealing and might have swapped old notes with them for the new ones.”reports that Kachalla was one of the 19 bandits/terrorists kingpins that were declared wanted by the Defence Headquarters in November 2022.
The military high command also placed a N5m bounty on each of them to encourage Nigerians to volunteer information that could lead to their arrest.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
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