Currency Swap Policy May Affect Troops In Remote Areas, Says NSA

Most of the troops in remote areas do not have access to banking services, the NSA said.

File photo of troops during an operation in the North-West


The National Security Adviser, Babagana Monguno, has expressed concern over the money swap policy of the Central Bank, which he claimed may negatively affect troops in the field.

Monguno stated this on Thursday while appearing before the House of Representatives ad-hoc committee on the CBN Money Swap Policy, saying his office was also working on measures to assist the House in tackling the problem.

Represented by Rear Admiral Abubakar Mustapha, a director in charge of the secretariat that conducts general security appraisal of the committee, the NSA said most of the troops in remote areas do not have access to banking services or digital means of accessing their money.

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He explained that the policy was affecting military operations in some areas, stressing that some soldiers on the battle fronts were having financial difficulties.

According to the National Security Adviser, engagements are on to address the matter.

“Globally, military operations, even in first-world countries, such policies if not well thought out will affect certain things because some of our soldiers are deployed in places where they cannot actually access digital means of paying whatever daily subsistence,” he stated.

“One of the main issues the NSA has been talking about is that this committee sits down and articulates better ways of addressing these issues and he has directed the committee in his office which I am part of to write out his position to assist the committee to meet its mandate. On a more detailed level, I will be able to talk to the committee when the press leaves.

“We actually chair the secretariat that conducts general security appraisal committee which specifically focuses on elections and other security situations that might come up from time to time. I want to also apologize on behalf of my boss who is unavoidably absent.

”He left the country yesterday on a very special meeting and because he holds this committee in very high esteem, he called and directed that I represent him. So, there is no written mandate. It was a verbal instruction that was given to me to attend this committee because he said somebody must attend. He understands the severity of the situation in the country and that is why he said someone must attend.”