Nigeria fights back at kidnappings

Central bank slashes withdrawals to prevent armed gangs demanding millions in ransom

Nigeria’s central bank is slashing cash withdrawals in an effort to curb criminality, especially a spate of kidnappings, and bring more people into the banking system.

From January withdrawals for indicuals are restricted to 100,000 naira (about R4,000) per week, down from 2.5 million naira (about R100,000).

A huge majority of Nigerians have no bank accounts and use informal markets where cash is preferred.

Kidnapping has become endemic as roving gangs of armed men abduct people from villages, highways and farms and demand ransom money from their relatives. Authorities say the armed gangs demand ransoms of millions of naira.

The gangs also demand villagers pay protection fees to be allowed to farm and harvest their crops.

The Central Bank of Nigeria will next week introduce newly designed bank notes of 200, 500 and 1,000 naira and citizens have until January 31 to turn in old notes when they cease to be legal tender.

Haruna Mustapha, CBN director of supervision, said in a letter to banks that the new withdrawal limits would come into effect on January 9 and would see corporates only allowed to withdraw up to 500,000 naira (R20,000) per week, down sharply from 3 million naira (R120,000) daily.

In compelling circumstances individuals could withdraw a maximum 5 million naira (R200,000) and businesses 10 million naira (R400,000) once a month, he said.

On Saturday night gunmen in Nigeria killed a dozen worshippers, including an imam, and kidnapped several others from a mosque, local residents said on Sunday.

Lawal Haruna, a resident of Funtua, in President Muhammadu Buhari’s home state of Katsina, said gunmen arrived at Maigamji mosque on motorbikes and started shooting sporadically, forcing worshippers to flee.

About 12, who were attending night prayers, were caught in the gunfire and killed, including the chief imam.

“They then gathered many people and took them to the bush. I’m praying that the bandits release thepeople,” said Abdullahi Mohammed, another resident of Funtua.

Katsina state police spokesman Gambo Isah said state-backed vigilanteshad managed to rescue some worshippers.

Katsina shares a border with Niger, allowing the gangs to move freely between the two countries.

In November, more than 100 people, including women and children were abducted when gunmen raided four villages in Nigeria’s northeastern Zamfara state. —