David Lawani and By Cross Udo, Abuja
The Chairman of the Independent National Electoral Commission (INEC), Prof Mahmood Yakubu, yesterday requested the support and cooperation of the Central Bank of Nigeria (CBN) through the provision of funds needed for logistics ahead of the forthcoming general elections.

Yakubu, who was on a working visit to the office of the Governor of the Central Bank of Nigeria, Godwin Emefiele, said the role of money in conducting elections in Nigeria could not be overlooked.

He stressed that the visit was part of the traditional duty of the Commission because “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’, in the country.

“We are encouraged by the continuing willingness of the apex bank to support the Commission’s determination to deliver credible elections on February 25 and March 11, 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.

Naira crisis: Protests rock Ogun as CSOs shut down CBN in Edo

“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 using electronic transfers 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, emergencies 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.

“Given the recent policy involving the redesign of some denominations of our national currency and the limits placed on cash withdrawals, we consider this meeting important in addressing some of the areas of concern with just 17 days to the general elections.

“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 elections 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.

“I thank the Governor for the audience. We are confident that we will arrive at the best way forward to facilitate the delivery of seamless elections.

The INEC boss was also at the office of the National Security Adviser on the need for security to be provided for the smooth delivery of free, fair, and credible elections across the country.

*We’ll not frustrate forthcoming polls, Emefiele promises to provide money

Responding, Emefiele promised to make cash available to enhance its operations for the smooth conduct of the elections.

Assuring that the apex bank will not frustrate the positive outcome of the general elections, Emefiele reassured the commission of the security of the sensitive materials in its custody, reiterating that it will use armoured bullion vans to safely convey them.

He said, “It is not just about cash, you have done electronic payments before, and if in this case after making your electronic payments, you require some money to pay transporters in cash, the assurance I give to you is that we will make it available, so there is nothing to worry. I will make sure that I do not feel and we will not allow ourselves as Central Bank to be seen as an agent that frustrated positive outcome of the elections.”

*Buhari meets Bagudu, Tambuwal, others

President Muhammadu Buhari on Tuesday met with the Chairman of the Nigeria Governors Forum, NGF, and Governor of Sokoto state, Aminu Tambuwal, and the Chairman of Progressive Governors Forum, PGF, and Kebbi State Governor, Abubakar Bagudu at the Presidential Villa, Abuja.

The meeting which was at the instance of the President was also attended by the Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, and the Chairman of the Economic and Financial Crimes Commission (EFCC), Abdulrasheed Bawa.

Also present at the meeting was the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, as well as the Chief of Staff to the President, Prof Ibrahim Gambari.

Although the details of the meeting with the president were not made public at the time of filing this story, feelers revealed that it may not be unconnected with the cash crunch as a result of the Naira redesign policy by the CBN.

There has been an outcry in the country over the scarcity of the naira notes after the initial December 31 deadline given by the nation’s apex bank for the swap of the old notes with the new notes.

The development has resulted in unprecedented hardship as teeming Nigerians find it difficult to lay their hands on the naira notes to attend to their immediate needs.

Meanwhile, a scheduled meeting between President Muhammadu Buhari and Governors under the aegis of the Nigerian Governors Forum (NGF) was cancelled.

No reason was given for the cancellation of the meeting initially scheduled for Tuesday at the Council Chambers of the Presidential Villa, Abuja.

The cancelled meeting with governors was coming four days after the president met with the governors of his party, the APC, during which he asked Nigerians to give him seven days to make consultations with relevant stakeholders to resolve the crisis associated with the naira redesign policy.

There had been mixed reactions over the currency swap policy aimed at curbing money laundering, election corruption, spiking inflation rates, and tackling counterfeiting

Recall that on Monday, Kaduna, Kogi, and Zamfara states instituted a suit against the Federal Government seeking a restraining order to stop the full implementation of the naira redesign policy which has resulted in a cash crunch

But a few hours after the suit by the three governors was made public, 14 registered political parties obtained an order restraining the federal government and the CBN from extending the February 10 deadline for the naira swap.