Gunmen suspected to be terrorists have demanded that ransom payment for four abducted persons be made with newly designed naira notes.

The abductees consisting a man, woman and two children, were kidnapped in Kolo village, Gusau Local Government Area of Zamfara State.

According to The Punch, the terrorists demanded N10 million ransom and rejected the old naira notes.

Mohammed Ibrahim, an indigene of the state said the assailants later reduced the ransom to N5m, adding that people in the village had been trying to raise the money to secure the safe release of the victims.

“As we were trying to gather the money demanded by the terrorists, they sent another message this morning that they would not collect old naira notes.

“They said they would keep the abducted persons in their camps until the release of the new naira notes in December,” Ibrahim said.


President Muhammadu Buhari and the Central Bank of Nigeria (CBN) had on  Wednesday unveiled the newly designed N200, N500 and N1000 notes.

According to the CBN governor, Godwin Emefiele, the new notes will hit the banks on December 15 while the old notes will cease to be legal tender from January 31. Emefiele also said that the plan to redesign the naira note follows the need to curtail the activities of corrupt politicians and terrorist who have hoarded the old notes obtained through various illegal means.

CBN also issued a directive for banks to be opened on Saturday so as to be available for those who needs to change their naira notes, They have also been instructed to receive the existing banknotes beyond the threshold stipulated by the Cashless Policy without charges for customers.

They also warned Nigerians of the consequences of mishandling the Naira notes.

“The Naira remains a symbol off our national pride. Treat it with utmost dignity.

“Do not spray, squeeze or counterfeit the Naira, as default goes with consequences”

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