The Central Bank of Nigeria has promised to make cash available to Independent National Electoral Commission to ease the conduct of the 2023 elections adding that it would not allow itself to be seen as derailing the transition process.
Emefiele vowed to do all in its capacity to assist the INEC to deliver free, fair, credible, and inclusive polls.
The governor of apex bank made this known after his meeting with the INEC Chairman, Prof. Mahmood Yakubu in Abuja on Tuesday.
Emefiele said, “The CBN will not allow itself to be used as agents to frustrate the forthcoming election which is a positive assignment.”
He stated further that it would do everything possible to ensure it makes available the necessary cash that INEC would need to pay for certain peculiar services. Vanguard reports.
He said, “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.
“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.”
Yakubu had scheduled an emergency meeting with Emefiele to request concessions concerning the naira redesign policy with specific reference to the limitations placed on cash withdrawals.
According to INEC, some of the service providers are required to be paid in cash and that aside from that, experience has shown that emergency situations will always come up on election day which could urgently demand the use of cash by the commission.