Cash Swap May Affect Military Operations.
Cash Swap May Affect Military Operations.

The National Security Adviser, NSA Retired Major General Babagana Mungono has said the current cash swap policy  by the Central Bank of Nigeria, CBN, may affect military operations if not properly implemented.

The Mungono said in Abuja,when he made appearance before the House of Representatives Ad-hoc Committee on Naira Swap and cashless policy.

The NSA who was represented by the Head of Defence Unit, Rear Admiral Abubakar Mustapha, observed that  in other advanced countries, such policies could affect operations of troops when it is not properly implemented.

He disclosed that the Office of the National Security Adviser  has constituted  a committee to assist the House Adhoc committee achieve its mandate.

Earlier, the Chairman of the Ad-hoc Committee, Ado Doguwa, noted that the policy was unpopular and has adverse effect on the economy.

He expresse the fears that the policy could affect the security apparatus especially as the elections approaches.

Dogua said  that his committee would continue to engage the office of the NSA and other stakeholders to find the best way to address the issue.

The committee will engage the Ministry of Finance, Printing and Minting Company in its next meeting.

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