Governor Godwin Emefiele of the Central Bank of Nigeria (CBN) says the CBN will not interfere with the upcoming election.
At the CBN headquarters in Abuja, Emefiele met with Mahmood Yakubu, the chairman of the Independent National Electoral Commission (INEC).
Concerns over the current shortage of naira have prompted the meeting.
Despite the fact that most service providers for elections are paid via electronic transfer, Yakubu said there are situations in which cash payments are required, such as transportation and emergency situations.
“As we approach the 2023 general election in 17 days, we consider this meeting important for addressing some of the concerns arising from recent policy changes, such as redesigning some denominations of our national currency and limiting cash withdrawals and availability,” he said.
“We are confident that arising from this meeting, we can assuage the anxiety expressed by some of our service providers.
“We’re determined to make the 2023 general election one of the best organised elections in Nigeria but we cannot do it alone.”
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Responding, Emefiele said the CBN remains committed to supporting INEC towards ensuring credible polls.
“Just a few months ago, I visited your office and you raised the issue of how foreign exchange can be procured for you to import other forms of election materials that need to be imported,” he said.
“And I gave you my word that foreign exchange would be provided for that purpose. I sit here to confirm that as at today, not one dollar is owed. All the dollars needed to procure those materials have been provided.
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“Now, this issue of paying logistics for people who are going to be transporting election materials to wards, certainly I give it to you that because we regard the INEC project as an urgent national assignment, it cannot fail.
“The central bank will not allow itself either to be used or to be seen as an agent that frustrated positive outcome of the election.
I give you the commitment that if in this case, after making your electronic payment you require some money to pay transporters, in this case cash, we will make it available.
“I will make sure that we do not allow ourselves to be seen as an agent that frustrated a positive outcome of the election.”
