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CBN Has Released Substantial Cash Amount For Election Logistics – INEC

The Independent National Electoral Commission (INEC) has disclosed that the Central Bank of Nigeria (CBN) has provided a large percentage of the cash it requested for the payment of critical service providers.

INEC’s chairperson, Mahmood Yakubu, announced the development on Thursday during a media briefing at the national collation centre in Abuja.

Recall there have been concerns that the current naira scarcity may affect logistics for the Commission ahead the polls.

Yakubu, had also said the electoral body, as a result of recent developments in the economy, had to consult with the Nigerian National Petroleum Company Limited (NNPCL) and was assured of availability of petroleum product for the polls.

“Likewise, the Central Bank of Nigeria (CBN) assured us that it will provide us with the small amount of cash we require from our budget to cash payment to some critical service providers for the election. I must reiterate that the bulk of payment for goods and services are still paid for by electronic transfer,” he said.

“The bulk of the small amount of cash that we have requested from the Central Bank of Nigeria is right now being released to the commission’s offices nationwide.

“In fact, a substantial part of it has already been received by our offices nationwide. And this has greatly facilitated the movement of sensitive materials yesterday from the branches of the central bank to our local government areas.”

The INEC boss furthered that sensitive materials have also been delivered to States.

“We have completed arrangements with the transport unions for the final leg of the movement of personnel and materials to the polling units. They have assured us of their readiness to provide all the vehicular needs of the commission for the election,” he said.

“I want to assure Nigerians that we are adequately prepared for this election. We remain fully committed to a free, fair and credible process.

“I want to once again declare that our allegiance is only to Nigerians. Our commitment is to ensure that in this election, we put everything in place for free choice, fair contest, and credible outcome.”

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