CBN Solves INEC Cash Crunch, Set To Receive Election Funds

The Independent National Electoral Commission (INEC) has received funds from the Central Bank of Nigeria (CBN) for election-related expenses.

DailyTrust reports that this was confirmed by an INEC national commissioner who disclosed that CBN branch controllers have been told to distribute the money to INEC offices across the states.

He said;

“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 added that the commission has requested security personnel to collaborate closely with INEC in order to guarantee a smooth transfer of funds from the state offices of the commission to the LGAs.

The Oyo State REC, Dr. Adeniran Rahmon Tella, confirmed the transfer of the funds by informing journalists at a news conference that the commission and CBN had achieved an arrangement to offset the payment of ad-hoc workers.

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