Emefiele Speaks on CBN's Fresh Plan after Meeting INEC Chairman

Emefiele Speaks on CBN's Fresh Plan after Meeting INEC Chairman

  • The INEC chairman, Professor Mahmood Yakubu, met with the CBN governor, Godwin Emefiele, to raise his concerns about the possible impact of the Naira notes scarcity on the 2023 elections
  • At the meeting, Emefiele said the CBN will make cash available to the electoral body if it needs it to pay some service providers
  • The CBN governor also gave assurance that the bank will not allow itself to be used as an agent to frustrate the 2023 polls

FCT, Abuja - Godwin Emefiele, the governor of the Central Bank of Nigeria (CBN), says that the apex bank will not allow itself to be used to frustrate the forthcoming 2023 general elections.

Emiefele disclosed this when the chairman of the Independent National Electoral Commission (INEC), Professor Mahmood Yakubu, led 11 national commissioners on a visit to the bank, The Nation reported.

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Emefiele/INEC chairman/Naira notes scarcity/2023 general elections
INEC chairman Mahmood Yakubu met the CBN governor, Godwin Emefiele to raise concerns over the possible impact of the Naira notes scarcity on the 2023 general elections. Photo credit: @inecnigeria
Source: Twitter
“The CBN will not allow itself to be used as an agent to frustrate the forthcoming election which is a positive assignment," Emefiele was quoted as saying.

2023 elections: Emefiele reveals CBN's plan for INEC

Speaking further, Emefiele said the CBN will make available every cash needed by INEC to pay logistics for the success of the elections.

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“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 reiterated.

Legit.ng gathers that Emefiele made the statement in response to a request from Yakubu that the CBN should find a way of addressing the scarcity of currency across the country 17 days before the Presidential and National Assembly elections.

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The INEC chairman had told the CBN governor the 2023 polls will be the best in Nigeria’s history, adding that concerns have, however, been raised about the processes leading to the elections.

Yakubu said while INEC has transferred all its accounts at the state and national level to the CBN, some of the services being rendered to the commission need to be paid for in cash, Vanguard also reported.

Streams of supporters storm CBN, back Emefiele, Buhari over Naira Redesign Policy

Meanwhile, amid the ongoing exchanges over the CBN's decision to implement the deadline for the old naira notes, concerned Nigerians under the aegis of the Pro Nigeria Group (PNG) trooped out in their numbers to back the policy.

According to our Legit.ng's regional reporter, who was present at the protest, many were seen carrying placards with inscriptions backing President Muhammadu Buhari and the CBN governor, Godwin Emefiele.

Speaking to pressmen before commencing their advocacy, the PNG convener, Isaac Balami, said the essence of the exercise was to support the CBN and President Buhari over the new monetary decision to redesign the naira.

Source: Legit.ng

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Nurudeen Lawal (Head of Politics and Current Affairs Desk) Nurudeen Lawal is an AFP-certified journalist with a wealth of experience spanning over 8 years. He received his B/Arts degree in Literature-in-English from OAU. Lawal is the Head of the Politics/CA Desk at Legit.ng, where he applies his expertise to provide incisive coverage of events. He was named the Political Desk Head of the Year (Nigeria Media Nite-Out Award 2023). He is also a certified fact-checker (Dubawa fellowship, 2020). Contact him at lawal.nurudeen@corp.legit.ng or +2347057737768.

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