Check illicit fund flow, vote buying, group urges CBN, EFCC

The Human and Environmental Development Agenda (HEDA) has urged the Central Bank of Nigeria (CBN) and the Economic and Financial Crimes Commission (EFCC) to prevent the use of illicit funds and vote buying in the governorship and House of Assembly elections.

This was stated by HEDA’s Chairman, Mr Olanrewaju Suraj, on Sunday in Lagos.

Suraj stated that regulatory authorities must be vigilant in order to prevent politicians from using the recent Supreme Court ruling on old Naira notes to prefect vote buying in the March 11 elections.

He claimed that the circulation of old Naira notes as legal tender would create loopholes in the country’s fight against corruption and insurgency.

“With the Supreme Court judgment delivered that the old notes continue to be legal tender, the CBN and other financial institutions must swing into action by deploying some control measures to track counterfeiting and illicit cash flow by corrupt politicians and their allies.

“Scrutiny should be intensified by the Nigeria Financial Intelligence Unit and the EFCC to track bank officials, estate managers and bureau de change operators to check the movement of illicit funds within and outside the financial institutions.

He said that vote-buying may be on the high side with the availability of old Naira notes against what was experienced during the presidential and National Assembly elections.

Suraj added that the EFCC should sustained its commendable efforts in curbing vote-buying by desperate politicians with the aim of disrupting the integrity of the electoral process. (NAN)