Naira crisis fit disrupt polls, INEC don warn Emefiele, NSA
With about 16 days to di general election, strong indications show say di new naira notes scarcity fit disrupt di exercise. Also, di Chairman of di Independent National Electoral Commission INEC, Mahmood Yakubu, drop di update during meeting with di Central Bank Governor, hin warn Godwin Emefiele for di CBN headquarters, Abuja, on Tuesday.
He explain say plenty service providers to INEC no get bank accounts, after hin warn Emefiele, hin solicite di support of di apex bank to address di concern wey dey related to CBN cash withdrawal policy wey don cause confusion across di country.
Although last year di apex bank bin peg weekly cash withdrawal limits set for individuals and corporate organisations to N500,000 and N5 million, respectively.
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Also, dem introduce di currency redesign policy wey involves di issuance of new N1000, N500 and N200 notes last December.
However, hin explain hin concern to di CBN chief, Yakubu. He yarn say di service providers need to dey paid fully or partly. Also, hin add say pipo bin get fears about di withdrawal limits.
According to am, di Nigerian election na huge and complex one. Also, hin tok say e require di engagement of critical services and in line with di provisions of di exchange laws and regulations.
In addition, hin yarn say emergency situations fit come up wey go need immediate cash payments. Some of di critical service providers dey unbanked.
Hin tok say over di years, dem don work with di Central Bank of Nigeria and commercial banks to pay for that kain services without wahala during general elections, as well as off-cycle and by-elections.
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