The Economic and Financial Crimes Commission (EFCC) has said the naira redesign policy introduced by the Central Bank of Nigeria (CBN) helped in frustrating the electoral corruption of some politicians.
The anti-graft agency disclosed that some politicians lost in their strongholds because they did not have money to share.
The Commission noted that the scarcity of currency during the 2023 elections led to violence at some polling centres in the country.
The Head of Media and Publicity of the Commission, Wilson Uwujaren stated this at a virtual programme tagged ‘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 disclosed that some of the politicians moved the illicit funds through Bureau de Change agents and one of the mechanisms of tackling the corruption was that EFCC educated the agents on guarding against 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.”