Nigeria Employers’ Consultative Association, NECA, has expressed deep reservation over the N100,000 cash withdrawal limit announced by the Central Bank of Nigeria, CBN, arguing that the livelihood of many individuals and enterprise sustainability would be affected negatively.

Reacting to the new policy, Director-General of NECA’s Wale-Smatt Oyerinde, said “As usual with the Central Bank of Nigeria (CBN), the Bank announced a new naira withdrawal policy without extensive consultation with Organized businesses and those that will be directly impacted by the Policy. This new policy is diversionary and a mere distraction from the critical issues that are affecting the nation. With the inflation rate hovering around 20 percent and over 100 million Nigerians in multidimensional poverty, the best that Government should do is not to further cripple the economic activities of Nigerians. It is no gainsaying that the livelihood of many individuals and enterprise sustainability would be impacted.

“While it is desirable to get all bankable individuals and businesses into the banking system and promote the cashless policy of the CBN, the timing without adequate preparation and sensitization of the critical mass that drives the economy (the SMEs and MSMEs) could prove counter-productive and further drive many below the poverty line. This is another classical example of the inconsistencies and misalignments between the fiscal and monetary policies of the Government. It is absurd to blatantly set traps of processing fees for individuals and businesses who desire to withdraw their hard-earned money from the bank for legitimate and genuine business transactions. It is also important to note that the banking infrastructure and mobile/digital facility to drive the cashless policy are not sufficiently developed. This is not only draconian but also inhuman.

“We urge the CBN and indeed, the Federal Government to replicate the energy and promptness used in implementing this policy to address the issues of dwindling value of the Naira, rising inflation, oil theft, ballooning foreign debt, and get millions out of poverty realm. While Nigerians businesses are groaning under the burden created by not-well-thought-out Government policies, more misery should not be placed on them as we approach the yuletide season.”

[12/8, 14:15] Ali Adoyi Abah: 2023: INEC knocks Tinubu over position on e-transmission of results

The Independent National Electoral Commission has expressed anger over the position of the presidential candidate of the All Progressives Congress, APC, Asiwaju Bola Tinubu, where he doubted the credibility of the Bimodal Voter Accreditation System and Results Viewing Portal which will be deployed for the 2023 election.

The commission said it was surprised that the APC candidate could question the ability of the technology to deliver a free and fair election when it had proven so in several polls, including the off-season governorship elections in Ekiti, Osun, and Anambra states.

The former Lagos State governor had on Monday at the Chatham House in London, United Kingdom, said the electoral body had yet to assure Nigerians of the workability of the BVAS and e-transmission of poll results.

He spoke weeks after the APC National Chairman, Senator Abdullahi Adamu, and the National Organising Secretary, Suleiman Argungu, expressed concerns over the planned deployment of BVAS for the next year’s general polls.

Speaking at Chatham House, Tinubu said, “We are still building confidence in our democratic and voting system. INEC is yet to assure us (that) during this election that electronic transmission, the technology being used for accreditation and the total vote count, is reliable, dependable and assuring in our democratic process before we introduce a complicated element of ballot counting.”

But responding to Tinubu’s doubt, the Chief Press Secretary to the Chairman of INEC, Mr Rotimi Oyekanmi, pointed out that the commission has been talking about the features, strengths and advantages of BVAS since 2020.

Oyekanmi spoke in response to inquiries regarding the APC standard bearer’s comment on the credibility of BVAS and the e-transmission of results.

He stated, ‘’The Independent National Electoral Commission has been talking about the Bimodal Voter Accreditation System, its features, strengths and advantages since 2020 when it was introduced to replace our beloved Smart Card Reader.

“At every quarterly meeting that the commission held with leaders of political parties since this BVAS was introduced, and I am talking about more than five meetings, it has always been on the agenda and discussed. My presumption is that both the national chairman and secretary of all the political parties that attend our meetings also brief their presidential candidates about the issues discussed.

‘’More importantly, we have conducted off-season governorship elections in Ekiti, Osun and Anambra states using the BVAS and all of these elections have generally been described and accepted as free, fair, credible, and inclusive by all and sundry. The governors elected have quietly been enjoying their respective tenures. Don’t forget that we also deployed it for the Federal Capital Territory area council election and it was a huge success.

‘’The BVAS has been trending on social media platforms and even foreigners visiting Nigeria for the first are asking: ‘What is this BVAS thing?’’

In response to mischief-makers who circulated rumours that the commission had dumped the BVAS, Oyekanmi explained that the INEC Chairman, Prof. Mahmood Yakubu, has reiterated severally that there is no going back on the deployment of BVAS for the 2023 general election.

‘’Therefore, if at this moment in 2022, we still have a presidential candidate of one of the 18 registered political parties, saying he needs assurances on the BVAS or he doesn’t know or appreciate its relevance to the 2023 general election, then something is terribly wrong somewhere,’’ he stated.

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