AN APPRAISAL OF NAIRA REDESIGN POLICY IN CURBING BANDITRY IN NIGERIA: CASE STUDY OF KATSINA STATE (2022/2023).

ABSTRACT This research work is entitled “An Appraisal of Naira Redesign Policy in curbing Banditry in Nigeria: Case study of Katsina State (2022/2023).” The study looked at the Naira redesign policy introduced by the Central Bank of Nigeria in 2022 aimed to address several economic and security challenges, including counterfeiting, inflation, and criminal activities such as banditry. This study appraises the policy's effectiveness in curbing banditry in Katsina State, one of Nigeria's most affected regions by this menace. Using a mixed-method approach, including data from interviews, media reports, and government publications, the study examines the policy's impact during the implementation period. Findings reveal that the cash scarcity caused by the redesign disrupted the operations of bandits by limiting their access to ransom payments, a primary source of funding. However, the policy also imposed significant socioeconomic hardships on residents, particularly in rural areas where access to banking services is limited. While the policy temporarily constrained banditry activities, its long-term success was undermined by poor implementation, adaptability of criminal groups, and insufficient complementary measures such as improved law enforcement and infrastructure. The study concludes that while the Naira redesign policy contributed to short-term gains in curbing banditry, a more holistic approach is necessary to achieve sustainable security outcomes.