By David Kabiyesi
The Independent National Electoral Commission (INEC) can now heave a sigh of relief after the Central Bank of Nigeria (CBN) released part of the substantial cash needed to prosecute the 2023 Elections, which begin tomorrow all over the federation, iwitnesslive.com can report.
INEC Chairman, Prof. Mahmood Yakubu made this disclosure during a media briefing held at the national collation center in Abuja on Thursday.
There were initial fears that the 2023 Elections might suffer huge setbacks due to lack of funds triggered by the new naira policy after federal government issued a directive to the country’s apex bank to release funds to INEC. But Yakubu’s revelation has put all that fears to rest as the commission brace up for what has been tagged as s biggest assignment of the year.
Fielding questions from reporters on INEC readiness for Saturday’s Presidential polls, Prof. Yakubu revealed that the commission had consulted the Nigerian National Petroleum Company Limited (NNPCL) to ensure that petrol is made available for its personnel.
“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 payments 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.
“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,” he said.
