- The chairman of INEC, Professor Mahmoud Yakubu, has disclosed that the new CBN policy on cash withdrawal limit will affect the 2023 election logistics
- Yakubu, who was accompanied by 11 national commissioners of INEC to hold a meeting with Godwin Emefiele, the CBN governor, said most people INEC will deal with are unbanked
- On his part, Emefiele reiterated the position of the apex bank to continue to support the election umpire for a successful election
FCT, Abuja – Professor Mahmood Yakubu, the chairman of the Independent National Electoral Commission (INEC) held a meeting with the Central Bank of Nigeria (CBN) Governor, Godwin Emefiele on Tuesday, February 7
The INEC boss was accompanied by 11 national commissioners of the electoral body, Channels Television reported.
Photo Credit: INEC Nigeria
Source: UGC
How naira scarcity will affect the 2023 election
Speaking during the meeting, Yakubu disclosed that the cause of the meeting was the important role of the CBN in conducting a free and fair election.
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He added that it was in particular about the recent cash withdrawal policy of the apex bank.
The CBN boss has unveiled the redesigned N200, N500 and N1000 notes, adding that his plan is to end the circulation of the old notes by January 31, 2023.
However, the deadline for the legal tendering of the old naira notes was extended to February 10.
Latest about Godwin Emefiele, CBN, Mahmoud Yakubu, INEC, Naira Redesign, Naira Scarcity, 2023 election
According to Yakubu, this policy poses a great challenge to the commission as there are many services the commission must render with cash.
He stressed that most logistic services that would be provided in the elections would be provided by the unbanked who solely rely on cash.
The chairman of the electoral body said he had come for the meeting with the CBN governor on how the crisis can best be addressed.
On his part, Emefiele expressed the commitment of the CBN to support INEC, and that the apex bank would not be used to scuttle the electoral process.
Naira Scarcity: Buhari meets Emefiele, EFCC Chairman, top PDP governor, photos, details emerge
calabargistblog.com.ng earlier reported that President Muhammadu Buhari has entered into a discussion with the relevant stakeholders over the biting hard naira and fuel scarcity across the country.
Some of the stakeholders present at the meeting include the chairman of the NGF and Sokoto state governor, Aminu Tambuwa and the CBN governor, Godwin Emefiele.
Also at the meeting are the chairman of the progressives governors forum, Atiku Bagudu, chairman of the EFCC, Abdulrasheed Bawa and many others.
Source: calabargistblog.com.ng
