Naira Scarcity: INEC Highlights Commission's Biggest Fear During Election, Calls for CBN's Intervention

Naira Scarcity: INEC Highlights Commission's Biggest Fear During Election, Calls for CBN's Intervention

  • The ongoing scarcity of funds might be affecting the operations of some officials of the Independent National Electoral Commission
  • This was disclosed by the commission's Resident Electoral Commissioner for the Federal Capital Territory, Yahaya Bello
  • Bello said the commission's transportation and logistics operations would be greatly affected during the 2023 polls due to cash scarcity

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The Independent National Electoral Commission (INEC), on Tuesday, February 14, announced that there is no cash available for mobilising its ad-hoc staff ahead of the 2023 general elections.

Daily Trust reports that the commission's chairman, Mahmood Yakubu, in a meeting with the governor of the Central Bank of Nigeria, Godwin Emefiele, requested for concessions regarding the naira redesign policy implementation.

INEC, niara notes, naira scarcity, CBN, monetray policy
INEC has said that the new cash policy might stall its operations during the 2023 elections. Photo: Bashir Ahmad, INEC
Source: UGC

The INEC chairman asked that some cash be made available for peculiarities during the polls, especially in places where electronic money transfers cannot be made.

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While Emefiele gave assurances that the CBN will not do anything to interrupt the smooth conduct of the February and March 2023 general elections, the Resident Electoral Commissioner for the Federal Capital Territory (FCT), Yahaya Bello, said the cashless policy might adversely affect the polls.

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Bello, who spoke at a north-central stakeholders’ roundtable on the 2023 general elections organised by the Centre for Transparency Advocacy (CTA), said INEC needs cash for its operations during the elections.

He said the cash would enable INEC to coordinate its security and logistics activities, but as it stands, the scarcity of the naira may affect the commission.

Bello's words:

“Before election day, we are going to deploy the service providers. On the night of Friday (the day before the election) in the FCT, we have more than 12,000 ad-hoc staff that we are going to give cash.

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“None of them will receive a cheque or accept a transfer. I am talking about FCT (12,000), which will require about N5,000 (each) cash on Friday night. Also, those who are going to transport our men, materials and security to the polling units will need cash to do that."

2023 elections: INEC speaks on why MC Oluomo has to move electoral materials during polls

To distribute sensitive electoral materials in Lagos state, the Independent National Electoral Commission said it would work with the Lagos State Parks Management Committee (LSPMC).

As a result, there has been a barrage of calls against using LSPMC led by Musiliu Akinsanya, popularly known as MC Oluomo.

According to INEC, it would not be dealing with MC Oluomo, a known loyalist to Bola Tinubu, but the LSPMC as an entity.

2023 election: MC Oluomo writes INEC, makes huge demand ahead of polls

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Meanwhile, INEC was earlier urged to allow the Lagos State Parks Management Committee (LSPMC) to distribute sensitive materials on election day.

MC Oluomo, the general manager of LSPMC, made the call.

Oluomo, also an ally to Bola Tinubu, the standard-bearer of the All Progressives Congress, said his demand became necessary to avoid technical, logistics and deployment hitches that could affect polls in Lagos and other neighbouring states.

Source: Legit.ng

Authors:
Nnenna Ibeh avatar

Nnenna Ibeh Nnenna Ibeh is a journalist with over 10 years of experience with various media organisations including Premium Times. Being on the front burner of reporting politics and the different dimensions of governance, she is also passionate about girls' education and women's and children's health. With degrees in Journalism, Peace Studies & Conflict Res., and Dev. Studies, Nnenna has worked in the dev. sector as a communications officer for the Centre for Democracy and Dev. email: ibehnnenna@gmail.com