The CBN has assured the Independent National Electoral Commission (INEC) and Nigerians that the apex bank would not do anything inimical to the success of the 2023 general elections.
Emiefele also allayed the fears in some quarters that the crisis associated with the circulation of the redesigned Naira notes may jeopardize the 2023 elections.
The CBN governor, Mr. Godwin Emefiele, who gave the assurance yesterday when he hosted the INEC management led by its chairman, Prof. Mahmood Yakubu, at the CBN headquarters in Abuja yesterday, assured Nigerians that the apex bank will not allow itself to be used to frustrate the elections.
“The CBN will not allow itself to be used as an agent to frustrate the forthcoming election which is a positive assignment. If you require cash to pay some of your service providers, we will make it available to you. We will not allow ourselves to be seen as agents that frustrate a genuine assignment,” he said.
Speaking earlier, the INEC chairman had noted the impact of the naira redesign policy on the successful conduct of the elections.
Yakubu, therefore, requested concessions regarding the naira redesign policy with specific reference to the limitations placed on cash withdrawals and the need to make some cash available for some peculiarities that cannot be met with electronic transfer of monies.
“Some of the service providers, especially transporters are required to be paid in cash, and aside from that, experience has shown that emergency situations do arise on election day which could demand the use of cash by the commission.
“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-elections.
“We are confident that, arising from this meeting, we can assuage the anxiety expressed by some of our service providers who are determined to make the 2023 general election one of the best organised elections 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. This meeting is part of this effort,” Yakubu said.
Responding, Emefiele said he would ensure the CBN is not seen as an agent to thwart the forthcoming general election.