According to the Independent National Electoral Commission (INEC), the Central Bank of Nigeria (CBN) has released the majority of the requested funds for payment of essential service providers.
INEC chairman Mahmood Yakubu made the announcement on Thursday at a press briefing at the national collation centre in Abuja.
There have been concerns that the prolonged naira shortage may impact the commission’s ability to compensate those who provide logistics services.
As a result of recent economic developments, the INEC chairman stated that the commission had to speak with the Nigerian National Petroleum Company Limited (NNPCL) and was guaranteed of the availability of petroleum products for the elections.
“Similarly, the Central Bank of Nigeria (CBN) has promised us that it will supply us with the modest amount of cash we need from our budget to make cash payments to a handful of crucial election service providers. The majority of payments for products and services are still made by electronic transfer, he noted.
“The majority of the tiny amount of cash requested from the Central Bank of Nigeria is currently being distributed to the commission’s offices around the nation.
In fact, a significant portion of it has already been received by our offices around the nation. And this considerably helped yesterday’s transfer of sensitive materials from central bank branches to local government districts.”
Yakubu further stated that sensitive items have been supplied to the states and are within one to two floors of the polling stations.
“We have finalized agreements with the transport unions for the last leg of the movement of persons and goods to the voting locations. “They have told us that they are prepared to provide all of the electoral commission’s transportation needs,” he said.
“I wish to reassure Nigerians that we are sufficiently prepared for this election. We continue to be totally dedicated to a free, just, and legitimate process.
“I would like to reiterate that our loyalty is entirely to Nigerians. Our commitment for this election is to ensure that the conditions for free choice, a fair contest, and a credible outcome are met.
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