The Central Bank of Nigeria CBN, would offer special concessions to the Independent National Electoral Commission, INEC, to allow it exceed cash withdrawal limit as set by the Bank.
The CBN, said it would not allow itself to be seen as derailing the forthcoming general election, promising to do all within its mandate to assist the INEC deliver a free, fair, credible and inclusive polls.
According to the apex bank, it would bend backwards to make available, the necessary cash that INEC would need to pay for certain peculiar services.
The CBN Governor. Mr Godwin Emefiele made the pledge in Abuja when he received the INEC Chairman, Prof. Mahmood Yakubu.
Yakubu had embarked on an emergency trip to the Bank to request for concessions regarding the Naira Redesign policy with specific reference to the limitations placed on cash withdrawal.
He said some of the service providers are required to be payed in cash and that aside that, experience has shown that emergency situations do arise on election day which could demand the use of cash by the Commission.