The Economic and Financial Crimes Commission (EFCC) has revealed that a significant number of politicians experienced defeat in the elections due to their inability to access sufficient funds for distribution. The EFCC attributed this situation to the naira redesign policy implemented by the Central Bank of Nigeria (CBN). Wilson Uwujaren, the Head of Media and Publicity of the EFCC, disclosed this information during a recent event. Uwujaren emphasized that the lack of cash resulting from the naira redesign had effectively curtailed the ability of corrupt politicians to engage in vote-buying practices. He further pointed out that the scarcity of funds had even caused some politicians to lose elections in their strongholds, which would not have been possible if they had ample cash reserves for distribution.
“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. Some politicians lost elections in their strongholds which could not have happened because they didn’t have the cash to share.” Uwujaren said.
