Ahead of the general elections, the Central Bank of Nigeria (CBN) will receive cash from the Independent National Electoral Commission (INEC) for election logistics.
Daily Trust reported that this was confirmed by an INEC national commissioner on Tuesday night, February 21. The INEC national commissioner said branch controllers of the CBN have been instructed to disburse the funds to INEC offices in the states.
“The issue of the cash crunch has been resolved and our resident electoral commissioners have started collecting the money.
“Before they got the clearance to have access to the money, we earlier sent the requests to CBN based on the demands of each state.
What the REC in each state requires is different depending on the topography of their states and it is based on this that the funds were approved.”
The national commissioner also said that the commission had asked security operatives to work closely with INEC in order to ensure a hitch-free disbursement from the commission’s state headquarters to the LGAs.
Confirming the release of the funds, the Oyo State REC, Dr Adeniran Rahmon Tella told journalists at a news conference that the commission had reached an agreement with CBN to offset the payment of ad-hoc staff.