- All bank accounts operated by the Independent National Electoral Commission, INEC, have been frozen by the Central Bank of Nigeria, (CBN). This follows the commission’s failure to comply with Federal Government’s directive that all ministries, agencies and departments must operate a Treasury Single Account, TSA.
- As a result of this development, it has left the commission cash strapped and unable to discharge most of its responsibilities.
- It was further gathered that the decision of the federal government to freeze all accounts operated by INEC has thrown the body in a serious dilemma because even the staff salary for September is yet to be paid just as many contractors whose outstanding fees were yet to be paid on a daily basis throng the commission for their payments.
- However, it was revealed that the leadership of INEC on Tuesday met with representatives of the Federal Government and CBN, with a view to resolve the issue which has thrown everybody almost off balance.
CBN Freezes All INEC’s Bank Accounts. Find Out Why
