Federal Government Considers Stricter Cashless Policy to Combat Kidnapping

Abuja, Nigeria 🇳🇬 June 23, 2026

The Federal Government is considering tightening Nigeria's cashless policy as part of renewed efforts to tackle the growing menace of kidnapping and other related crimes across the country.

The proposed move is aimed at reducing the use of large cash transactions, which security experts believe are often exploited by criminal networks to collect ransom payments and finance illegal activities without leaving a trace.

Sources familiar with the discussions said the government is exploring measures that would strengthen electronic payment systems, improve monitoring of financial transactions, and enhance collaboration between financial institutions and security agencies.

Officials argue that expanding the scope of the cashless policy could make it more difficult for kidnappers and other criminal elements to operate, while also improving transparency within the financial system.

Kidnapping for ransom has remained a major security challenge in many parts of Nigeria, with victims often forced to make payments through cash channels that are difficult to track. Authorities believe that increased reliance on digital transactions could help investigators identify and disrupt criminal networks more effectively.

However, analysts have cautioned that any policy changes should take into account the realities of rural communities and underserved areas where access to banking services and digital payment infrastructure remains limited.

The government is expected to consult with relevant stakeholders before implementing any new measures, with officials emphasizing the need to strike a balance between strengthening security and ensuring financial inclusion for all Nigerians.