Breaking! 2023: CBN Finally Releases Cash To INEC

The Independent National Electoral Commission (INEC) has finally received cash from the Central Bank of Nigeria (CBN) to cater for election logistics.

CITYNEWS NIGERIA reports that although the amount was not disclosed, a National Commissioner of INEC disclosed this development to the press on Tuesday. Other INEC officials corroborated the INEC National Commissioner.

“The issue of the cash crunch has been resolved and our resident electoral commissioners have started collecting the money,” the INEC national commissioner, who spoke in confidence, said.

There had been fear that the election might be disrupted if the CBN fails to grant INEC’s cash request due to the scarcity of naira notes occasioned by the apex bank’s cashless policy.

INEC had explained that even though most of its payment are done through online transfers, it would need cash for some specific services.

However, four days before the 2023 general election, the CBN finally granted INEC’s cash request.