By Gwurld4026 
Yul Edochie’s Appeal to President Tinubu: Cashless Transactions as a Solution to Kidnapping
Here’s what’s going on:
🎤 What Yul Edochie Said
Nollywood actor Yul Edochie has publicly urged President Bola Tinubu to revive Nigeria’s cashless policy, attributing several benefits to it—namely:
- A strengthened value of the naira and lower inflation, especially for small-denomination notes like ₦5, ₦10, ₦20, and ₦50.
- A significant reduction in kidnapping rates, as limiting access to large amounts of physical cash makes ransom operations harder for criminals.
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📌 Broader Context & Support from Officials
- Former President Buhari, via the presidential spokesperson, also endorsed cashless policy as “very good, security‑wise,” citing declines in kidnapping and corruption during its rollout.
thecable.ng+1naijanews.com+1 - Speaker of Nigeria’s House of Representatives, Tajudeen Abbas, echoed similar views, saying the 2023 cashless and naira redesign efforts disrupted financial networks used by kidnappers and bandits.
thecable.ng - Analysts have noted that a move towards cashless systems introduces transparency—every cash withdrawal is traceable, deterring illicit activity.
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🔍 Evaluating the Argument
Benefits:
- Traceability: Every large withdrawal or transfer can be monitored, making ransom exchanges riskier for perpetrators.
- Reduced liquidity: Limited availability of untraceable cash lowers the incentive for kidnappers.
- Macro‑level results: Past implementation associated with reduced kidnapping and banditry in some contexts.
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Challenges:
- Infrastructure gaps: Lack of reliable electricity, limited banking services in rural areas, and low smartphone penetration are major hurdles to full adoption.
reddit.com - User accessibility: Many Nigerians depend on cash, and sudden shifts risk exclusion or hardship.
- Complex enforcement: Without strong institutions and anti-ransom legislation, going cashless alone may not end kidnappings.
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🧭 Summary Table
| Claim | Support / Context |
|---|---|
| Cashless reduces kidnapping | Cited by Edochie, Buhari, and Abbas with reference to reduced incidents during policy periods. pulse.ng+9naijanews.com+9reddit.com+9 |
| Traceable withdrawals deter ransom | Withdrawal limits and digital trails increase risk for criminals. |
| Practical barriers exist | Rural access, power outages, digital adoption, and infrastructural limitations. |
| Kidnapping is deeply entrenched | Online testimonies highlight organization, political shielding, and evolving criminal ecosystems. |
✅ Bottom Line
Yul Edochie’s recommendation isn’t anecdotal—it echoes established views held by senior officials like Buhari and Abbas, highlighting traceability as a deterrent to kidnapping. The policy could help—but real impact requires substantial infrastructure support, rural banking access, and robust enforcement measures.
Would you like a deeper look into Nigeria’s financial system readiness, comparative cashless models globally, or what legislation exists (or is needed) to complement such a policy?
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