INEC reiterates commitment to deliver credible elections

For elections to be organized, there are a number of activities that require expending of cash, it is for this purpose that the Chairman, Independent National Electoral Commission, INEC, Prof. Mahmood Yakubu, paid a working visit to Governor, Central Bank of Nigeria, CBN, Godwin Emefiele.

Recall last year CBN announced a policy to redesign some denominations of the nation’s currency, while placing cash withdrawal limit for both individuals and corporate organizations.

Yakubu who was speaking during the courtesy call on Tuesday in Abuja said, INEC is encouraged by the continuing willingness of the apex bank to support the Commission’s determination to deliver credible elections on 25th February 2023 and 11th March 2023, particularly the facilitation of activities necessary for the success of the elections in an area where the Central Bank of Nigeria (CBN) has exclusive responsibility.

According to him, “The Nigerian election is a huge and complex undertaking. It requires the engagement of critical services. In line with the provisions of extant laws and regulations, service providers are generally paid by means of electronic transfer to their accounts.

“However, there are equally critical areas such as transportation and human support services that have to be immediately remunerated either partially or in full before services are rendered. In addition, emergency situations may arise requiring immediate cash payments.

“Some of the critical service providers are unbanked. Over the years, we have worked with the CBN and commercial banks to pay for such services seamlessly during general elections as well as off-cycle and bye-elections. Over the years, the Commission has also migrated all its accounts at National and State levels to the CBN and this arrangement has worked without encumbrances to our activities”, he said.

Speaking further, Prof. Yakubu said, “We are confident that arising from this meeting, we can assuage the anxiety expressed by some of our service providers. We are determined to make the 2023 General Election one of the est-organized elections in Nigeria but we cannot do it alone. That is why the Commission is mobilizing every critical national institution for the success of the election. This meeting is part of this effort”, he concluded.

In his response, the CBN Governor, Godwin Emefiele, said the apex bank is committed to supporting INEC in the area of electronic means of payment and cash to pay some service providers during the general election.

He further noted that, Because we regard the INEC project as a topmost or urgent National assignment, it cannot fail and the CBN would not allow itself, either to be used or seen as an agent that frustrated a positive outcome of that election.

“I give you that commitment that whatever you need, we will make it available. It is nothing to worry and I will make sure that we do not fail”, he assured.

The INEC Chairman, accompanied by Directors and members of the Commission.