The Independent National Electoral Commission (INEC) yesterday expressed worry that the Central Bank of Nigeria (CBN)’s new cashless policy might negatively affect some of its operations.
It, therefore, urged the CBN to bear in mind that many of its service providers are unbanked and that emergency situations that would require cash payments could arise during the general election, which begins February 25.
The commission said it would not have issues paying some service provider through electronic platforms, but with the unbanked who are mostly involved in transporting election materials to wards and polling units.
Chairman of the commission, Mahmood Yakubu, said this when he led an 11-member team to CBN Governor Godwin Emefiele in Abuja.
Yakubu said: “We are encouraged by the apex bank’s continued willingness to support INEC in its determination to deliver credible elections on 25th February 2023 and 11th March 2023, particularly the facilitation of activities necessary for the success of the election in an area where the Central Bank of Nigeria has exclusive responsibility.
“Nigeria’s election is a huge and complex undertaking. It requires the engagement of critical services and 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 some 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 payment. Some of the critical service providers are unbanked.
“Over the years, we got the Central Bank and commercial banks to pay for such services seamlessly during the general election as well as off-circle and bye-elections. Over the years, the commission has also migrated all its accounts at national and state levels to the Central Bank and this arrangement has worked without encumbrances to our activities.
“In view of the recent policy involving the redesigning of some denomination of currencies and the limit placed on cash withdrawal and availability, we consider this meeting important in addressing some of the areas of concern just 17 days to the general election.
“We are confident that arising from this meeting, we can assuage some anxiety expressed by some of our service providers. We are determined to make the 2023 general election one of the best organised in Nigeria.
“But we cannot do it alone. That is why the commission is mobilising every critical national institution for the success of the election.”
His words: “On the issue of paying people who are going to be transporting election materials to the wards and polling units, the assurance I give to you is that, because we regard t INEC project as a topmost and urgent national project, it cannot fail and the Central Bank will not allow itself to be seen as an agent to frustrate a positive outcome of that project.
“I give you that commitment that whatever you need will be provided because you have been responsible in the past. It is not just about cash. We have done electronic payments before.
“If in this case, after making an electronic payment, you require some cash to pay transporters, the assurance I give to you is that we will make it available. So, it’s nothing to worry about.”
Also in Abuja, National Security Adviser Babagana Monguno said security agents would not allow Nigerians to be intimidated by fake news purveyors.
Monguno said at a meeting between an INEC team, led by Yakubu, and heads of security agencies that all security and intelligence agencies were fully prepared for the elections.
He added: “It is very important that Nigerians are not pushed to the limit where they will abandon their number one responsibility.”
Chief of Defence Staff Lucky Irabor said the Armed Forces were monitoring closely events in the country and will provide the necessary support to the police to ensure a peaceful election.
The Inspector-General of Police, Usman Alkali, also assured that the Police would provide a level playing field for Nigerians to exercise their franchise.
He said: “We are also prepared to checkmate the activities of those who do not want the elections to take place.”
The Nation
