Oyetibo urges CBN to release cash to political parties for election logistics

Ogunsakin Mustapha
3 Min Read
Tayo Oyetibo SAN

senior lawyer, Tayo Oyetibo SAN on Wednesday called on the Central Bank of Nigeria (CBN) to release cash to political parties to logistics just as they did for the Independent National Election Commission (INEC).

Oyetibo who is the founder of Law FM radio said that it will amount to hypocrisy if CBN releases cash to INEC and deny political parties, the ones contesting the elections INEC is conducting, the cash needed for their logistics.

Below is the text of his press statement:

The news that the Central Bank of Nigeria has made cash available to the Independent National Electoral Commission for its election logistics is gratifying. The INEC Chairman, Prof. Mahmud Yakubu, was reported to have said during a visit to the CBN Governor, that they needed cash rather than bank transfers to sort out many of their activities during the elections. 

It is commendable that the CBN Governor appreciated the need for INEC to have access to cash for the purpose of the election. It is a demonstration of a sense of political reality. However, this is how far the commendation can go. If the CBN accepts that INEC needs cash for its election logistics, why would it shut its eyes to the needs of the political Parties for cash for their own election logistics? Afterall,  INEC is not organizing the elections for itself. No. The elections being organized by INEC are to be contested by the Political Parties. For example, there are over 176,000 polling units, over 8000 Ward Collation Centres, 774 Local Government Collation Centres, and 36 State Collation Centres in the country. The Political Parties are required to post agents to each of these centres across the country. Some Parties post more than one agent to a centre. Do they not need cash for their logistics? 

Tayo Oyetibo SAN

The CBN would appear to be playing the game of a political ostrich engaging in political pettifogging by making cash available to INEC for election logistics while denying the Political Parties access to cash for their own election logistics. Are we not cutting our nose to spite our face? 

It is hoped that the CBN will realize its mistake on this matter, make amends and not allow this type of egregious policy to occur for future elections.

Dated this 22nd day of February, 2023.


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