• About
  • Advertise
  • Privacy & Policy
  • Contact
Monday, July 21, 2025
  • Login
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
Advertisement
  • Cover
  • News
  • Politics
  • Business
  • Security
  • Entertainment
  • World
  • Sports
  • Editorial
  • Interview
No Result
View All Result
Newsdesk Africa
No Result
View All Result
Home Cover

Naira re-design won’t affect 2023 general elections, CBN tells INEC

Hassan Tanko by Hassan Tanko
February 8, 2023
in Cover
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The Central Bank of Nigeria (CBN) says naira re-design won’t affect the 2023 general election, as it will provide required cash and other supports needed for smooth conduct of the poll.

Prof. Godwin Emefiele, the CBN Governor, said this when he received Prof. Mahmood Yakubu, the Chairman, Independent National Electoral Commission (INEC) and his management team in Abuja on Tuesday.
Emefiele said that the CBN had always been supportive to INEC in whatever way possible to ensure that it delivered on its mandate of ensuring hitch-free elections.
“Before now, we have been involved in the storage of INEC election materials and his involved using our armoured bullion vans to transport election materials.

“We are happy that in the course of this relationship, we have not disappointed you and that is the reason you have come again this time.

“Now, just aside from the issue of storage of election materials together with transportation of election materials from CBN locations to your own specific or designated locations, I know that just a few months ago, I visited your office.
“You raised the issue of how foreign exchange can be procured to you to import Bimodal Voter Accreditation System (BVAS) and other forms of election material that need to be imported and I gave you my word that foreign exchange will be provided for that purpose,” he said.

Emefiele added that CBN would provided all needed support to INEC to ensure credible general election.

“I stand here to confirm that as at today, all foreign exchange needed to import those items has been provided and those items have been imported. So, it’s all part of our commitment.

“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 regarded the INEC project as an urgent national assignment, it cannot fail.

“The CBN will not allow itself either to be used or to be seen as an agent that frustrated positive outcome of the election.

“So 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, I give to you is that we will make it available,” Emefiele said.

Earlier, Yakubu said that the visit was to seek for the CBN support toward a hitch-free 2023 general election, especially with the recent naira re-design policy which placed restrictions on cash withdrawal.

He said that Nigerian election was huge and complex undertaken that required 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-election,” he said.

Yakubu added:“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.

“In view of the recent policy involving the redesign of some denominations of our national currency, and the limits placed on cash withdrawals, we consider this meeting important in addressing some of the areas of concern with just 17 days to the 2023 General Election.
“We are confident that arising from this meeting, we can assuage the anxiety expressed by some of our service providers.”

He said that INEC was determined to make the 2023 General Election one of the best in Nigeria, adding However, that the commission can’t do it alone.
“That is why the commission is mobilising every critical national institution for the success of the election. This meeting is part of this.”

The News Agency of Nigeria (NAN) reports that Yakubu also led the INEC management to a meeting with the National Security Adviser, retired Maj.-Gen. Babagana Monguno shortly after.(NAN)

Previous Post

Obi presidency will tackle ‘subsidy scam’ in first 100 days, says Baba-Ahmed

Next Post

Osimhen breaks Ronaldo’s Serie-A record

Next Post

Osimhen breaks Ronaldo’s Serie-A record

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

https://youtu.be/FHyJ1Wr0FAk?si=0WVYI_2OR4OrIrQ4
https://youtu.be/gbE3azm_Io0?si=GdE3Mqelo1ujTNla
Oleksandr Usyk knocks out Daniel Dubois to become undisputed World Heavyweight Champion
Sports

Oleksandr Usyk knocks out Daniel Dubois to become undisputed World Heavyweight Champion

by Bature Magaji
July 21, 2025
0

Oleksandr Usyk solidified his legacy as the premier heavyweight of his era with a dominant fifth-round knockout victory over Daniel...

Read moreDetails
Notorious kidnapper Wasiu Oloyede arrested in Ogun after abducting a soldier

Notorious kidnapper Wasiu Oloyede arrested in Ogun after abducting a soldier

July 21, 2025
N1.5m bribe to free kidnap suspect – Police 

N1.5m bribe to free kidnap suspect – Police 

July 21, 2025
Why NNPC refineries may never work again — Dangote

Dangote Refinery targets 700,000bpd capacity

July 21, 2025
My priority during my birthday celebrations, by Peter Obi

My priority during my birthday celebrations, by Peter Obi

July 21, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Homepage

Copyright© 2022-2025 Newsdesk Africa Published by Glossy Affairs Ltd. Tel: +2348152359152. Email: info@newsdeskafrica.com.ng editor@newsdeskafrica.com.ng