CBN Disburses Cash To INEC State Chapters For Elections

CBN Disburses Cash To INEC State Chapters For Elections

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The Central Bank of Nigeria (CBN) has begun the disbursement of cash to offices of the Independent National Electoral Commission (INEC) across the federation for election logistics.

This has laid to rest the apprehension over the inability of INEC to get cash from the CBN due to the current scarcity of naira notes as a result of the cashless policy being implemented by the CBN.

According to a Daily Trust report, an INEC national commissioner said branch controllers of the CBN have been instructed to disburse the funds to INEC offices in the states.

Various State Resident Electoral Commissioners (RECs), had reportedly made requests for funds to the CBN based on the demands of each state for transport and other logistics requirements.

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Meanwhile, the Oyo State REC, Dr Adeniran Teller, has confirmed the reception of cash from the CBN.

Teller made the disclosure in a chat with newsmen on the preparedness of the INEC state chapter for the election.

INEC national chairman, Prof Mahmood Yakubu, had earlier explained  that even though most of its payments are done electronically, it would still need cash to carry out some activities.

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