The Economic and Financial Crimes Commission (EFCC) has stated that the Central Bank of Nigeria’s (CBN) naira redesign policy has aided in the defeat of some politicians’ electoral corruption.
According to the anti-graft agency, some politicians lost in their strongholds because they did not have enough money to share.
The Commission stated that a lack of currency during the 2023 elections resulted in violence at some polling stations across the country.
Wilson Uwujaren, the Commission’s Head of Media and Publicity, stated this during a virtual program titled ‘Corruption in Nigeria’s 2023 Elections: A Post-Mortem,’ hosted by The Conversation Africa in collaboration with Daily Trust.
The violence during elections was caused by the unavailability of cash which was the CBN’s naira redesign policy because politicians could not buy votes, Uwujaren said.
He revealed that some politicians moved illicit funds through Bureau de Change agents and that one of the mechanisms for combating corruption was that the EFCC educated the agents on how to avoid this.
Speaking further on the positive impact of the naira redesign policy, Uwujaren said;
Some politicians lost elections in their strongholds which could not have happened because they didn’t have the cash to share.