Naira Redesign Will Curb Vote-buying — EFCC Boss, Bawa

The Chairman of the Economic and Financial Crimes Commission, EFCC, AbdulRasheed Bawa, has lauded the Federal Government over the redesigning of naira notes by the Central Bank of Nigeria, CBN, stating that it would help mitigate against vote buying in the coming elections.

According to him, the new policy would aid the commission to be able to monitor people holding currencies legitimately and illegitimately.

Bawa on Thursday after defending the commission’s 2023 budget before the Senate Committee on Anti-Corruption to journalists said that the EFCC would continue to partner with the Independent National Electoral Commission to curb vote buying, especially during the 2023 general elections.

He said, “We welcome the policy, it is a good thing that the country is redesigning its currency, because how can you have an effective monetary policy when you don’t have control over 85 percent of your currencies?

“Out there, people are holding it, people are using it to speculate on foreign currencies, and so coming out with this policy, the government is trying to contend with it. I am sure that we will be able to monitor those people that are holding back this money whether legitimately or illegitimately and the right cause of the law will take its course.”

“We will continue to do what we have to do, we are trying to ensure that illegitimate funds are not finding their way into our electoral processes, he added.