The Shura Council of the Islamic State of the West African Province (ISWAP) terrorist group is thwarting receipt of the naira from farmers and fishermen in the Lake Chad area due to moves by the Nigerian government to redesign and reissue higher denominations of the currency.
It was gathered that the move by the government has thrown the ISWAP population in the Lake Chad area into confusion as they will find it extremely difficult to change their money into the new currency notes.
An intelligence report obtained in the region revealed that the insurgents are now receiving the West African CFA Franc which they intend to replace the Nigerian naira as currency of trade in the area.
The sources said the terrorists had also banned all Nigerian fishermen, herdsmen and farmers from sneaking into the Lake Chad through Marte, Abadam and Gamborun Ngala in order to prevent the naira from reaching camps of the terrorists in the Lake Chad.
Ibn Umar and Malam Ba’ana, the ISWAP 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 through Bulgaram, Cikka, Guma, Maltam, Doron Liman and Ramin Dorina villages in Cameroon Republic.
In exchange, ISWAP collects 1,500 West African CFA Franc monthly tax from the people who appear very willing to pay.
They have also secured trade routes for merchants to enable them access foodstuff, weapons, fuel and other logistics.
