Yemi Osinbajo says cashless policy, when effectively operated in Nigeria can help stem the surge of illicit election financing.
KAZEEM UGBODAGA FROM P.M. NEWS
Nigeria’s vice president, Yemi Osinbajo has said that cashless policy, when effectively operated in Nigeria can help stem the surge of illicit election financing by making it possible to track funds.
He spoke earlier today at the Presidential Villa when he received a delegation of the European Union Election Observation Mission led by Mr. Barry Andrews, the Chief Observer, who is also a member of the European Parliament.
“I think that what we should be looking at is to provide more infrastructure. The cashless thing has been really advantageous and helps with tracking. That sort of infrastructure is useful for more financial inclusion and the more financial inclusion you have, the easier it is to track,” he said.
According to Osinbajo, “so much money can be spent without it being tracked,” under the current election financing practices in the country.
While noting the serious difficulty in controlling election financing because of cash transactions, the VP stated that there are still infrastructure issues required to be in place to ensure an efficient cashless system in the country.
