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Naira Scarcity: We Won’t Be Used To Disrupt The Election, CBN Assures INEC



The Central Bank of Nigeria CBN has said it would not allow itself to be used to disrupt the forthcoming general election, promising to do all within its mandate to assist the Independent National Electoral Commission INEC to deliver free, fair, credible, and inclusive polls.

According to CBN, they promise to make available, the necessary cash that INEC would need to pay for certain peculiar services if needs be.

CBN governor, Mr. Godwin Emefiele made the pledge on Tuesday in Abuja when he played host to the INEC Chairman, Prof. Mahmood Yakubu.

Read More;Currency Redesign: Bear With CBN – Peter Obi Urges Nigerians.

Yakubu had embarked on an emergency trip to the apex bank to request concessions regarding the Naira Redesign policy with specific reference to the limitations placed on cash withdrawals.

He said some of the service providers are required to be paid in cash and that aside from that, experience has shown that emergency situations do arise on election day which could demand the use of cash by the commission.

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