The Governor, Central Bank of Nigeria, Godwin Emefiele, on Tuesday has promised to synergize with the Independent National Electoral Commission (INEC) in the area of electronic means of payment and cash for the payment of some service providers during the general election.
Gov Emefiele made this promise when the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu paid him a working visit to address critical areas such as transportation and human support services that have to be immediately remunerated either partially or in full before services are rendered with just 17 days until the 2023 General Election.
He reaffirmed that the Central Bank of Nigeria CBN who had been keeping some of the election sensitive materials for awhile now will not allow itself to be used as an agent that frustrated a positive outcome of he General election.
He noted that, “Because we regard the INEC project as a topmost or an urgent National assignment, it cannot fail and the CBN would not allow itself, either to be used or seen as an agent that frustrated a positive outcome of that election.
“I give you that commitment that whatever you need, we will make it available. It is nothing to worry and I will make sure that we do not fail”, he assured.
Earlier in his remarks, the Chairman of the Independent National Electoral Commission (INEC), Prof. Mahmood Yakubu said INEC is encouraged by the continuing willingness of the apex bank to support the Commission’s determination to deliver credible elections on 25th February 2023 and 11th March 2023, particularly the facilitation of activities necessary for the success of the elections in an area where the Central Bank of Nigeria (CBN) has exclusive responsibility.
According to him, “The Nigerian election is a huge and complex undertaking. It requires the engagement of critical services. In line with the provisions of extant laws and regulations, service providers are generally paid by means of electronic transfer to their accounts.
“However, there are equally critical areas such as transportation and human support services that have to be immediately remunerated either partially or in full before services are rendered. In addition, emergency situations may arise requiring immediate cash payments.
“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. Over the years, the Commission has also migrated all its accounts at National and State levels to the CBN and this arrangement has worked without encumbrances to our activities”, he said.
Speaking further, Prof. Yakubu said, “We are confident that arising from this meeting, we can assuage the anxiety expressed by some of our service providers. We are determined to make the 2023 General Election one of the best organized elections in Nigeria but we cannot do it alone. That is why the Commission is mobilizing every critical national institution for the success of the election. This meeting is part of this effort”, he concluded.