The Executive Chairman, Udi Local Government Area of Enugu state, Hon Nze Philip Nnamdi Okoh, has called for a drastic reduction in the amount of cash in circulation in Nigeria’s economy, stressing that this will help to reduce the scourge of kidnapping in the country.
A statement by Ozo Fred C. Onyia, SPA to the Chairman on Media and Public Enlightenment, said the council Boss made the call on Wednesday, 29th November, 2023 when he hosted a Team of Personnel and Trainees of the Nigerian Armed Forces Command and Staff College led by Col Adejoro, visited Udi LGA.
The army team is in the local government in continuation of their exercise tagged “Exercise Nigerian Study Tour”, with the theme, “WHOLE GOVERNMENT/SOCIETY APPROACH IN COMBATING CONTEMPORARY INTERNAL SECURITY CHALLENGES FOR ENHANCED OPERATIONAL EFFECTIVENESS”.
Hon. Okoh said the local government administration is limited in what it can do to stem insecurity because of its configuration in the present day Nigeria, noting that with the available resources, they’re doing their best but more needs to be done to stop emerging crimes, especially, kidnapping.
“There’s no gainsaying the fact that we’re Kidnapping on a daily basis because the criminals have found it very fashionable and lucrative.”
He therefore, made a passionate appeal to the Federal Government to introduce a policy that will reduce the volume of cash exchange in Nigeria.
“If there is a policy which provides that no individual or corporate entity, can draw more than 50,000.00 (Fifty Thousand Naira, only) daily, either over the counter or via the ATM, this reduction in the availability of cash, would end the menace of kidnapping”.
He added that “any transaction with a value exceeding 50,000.00 (Fifty Thousand Naira Only) daily, should be performed through electronic/ mobile transfer. If Nigeria operated an economy where exchange in cash is low, this kidnapping menace would die a natural death.
“A daily cash access of 50,000.00 (Fifty Thousand Naira Only), should suffice for any immediate cash need and such a policy would ultimately improve our economic condition, by saving the quantum of money spent to provide cash.”
He thereafter, urged the citizens to continue keeping faith as the administration of Governor Peter Mbah understands the need for them to feel safe while visiting Ud and is partnering with all the council chairmen to arrest the situation..
In his remark, the Chairman of Udi Local Government Traditional Rulers’ Council Hon Justice Ken Ezeike RTD, commended the Executive Chairman for his many laudable interventions with regards to the security of the lives and properties of Udi people.
He further suggested that the Federal Government, mobilize military personnel to get involved in the training of our Local Vigilante, for enhanced effectiveness.
The Leader of the Armed Contingent, Colonel Adejoro explained that the engagement, is structured into a Research Effort by Students/Trainees of the Armed Forces Command and Staff College (students of Senior Course 46), who are on a one year mid career training.
The visiting Team was led round the Council to witness the Ultra Modern 2,500 Capacity Hall and the High Court Building being constructed by the current Udi Local Government Administration.
