INEC Chairrman Meets CBN Governor Over Naira Polic...

INEC Chairrman Meets CBN Governor Over Naira Policy

The Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu, has met with the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, over the new naira policy.

Yakubu during his visit on Tuesday expressed concern about the new naira policy and how it might affect the 2023 general election if not properly managed.

He said service providers would be needed for the forthcoming election and need to be paid fully or partly, adding that there were fears about the withdraw limits.

"However, there are crucial areas such as transportation and human support services that have to be immediately enumerated either partially or in full because services are rendered.

"In addition, emergency situations may arise that require immediate cash payments.

"Over the years, we have worked with the CBN, commercial banks to pay for such services seamlessly during general elections, off-cycle and bye-elections.

"Over the years, the Commission has migrated all its accounts at national and state levels to CBN and this arrangement has worked without hindrances to our activities.

“In view of the recent policy involving the redesigning of some denomination of our currencies and the limit on cash withdrawals and availability, we consider this meeting important in addressing some of our areas of concern with just 17 days to the 2023 general election.

"We are confident that an aspect of this meeting will reduce the anxiety expressed by some of our service providers. We are determined to make the 2023 general election one of the best elections in Nigeria but we cannot do it alone", he stated.