The
Central Bank of Nigeria, CBN, has frozen all bank accounts operated by
the Independent National Electoral Commission, INEC, following the
commission’s failure to comply with Federal Government’s directive that
all ministries, agencies and departments must operate Treasury Single
Account, TSA. read more below
Findings by Vanguard revealed that the directive was carried out last week.
The commission is now cash strapped and is unable to discharge most of its responsibilities
The Central Bank of Nigeria, CBN, has
frozen all bank accounts operated by the Independent National Electoral
Commission, INEC, following the commission’s failure to comply with
Federal Government’s directive that all ministries, agencies and
departments must operate Treasury Single Account, TSA.
Findings by Vanguard revealed that the directive was carried out last week.
The commission is now cash strapped and is unable to discharge most of its responsibilities.
Informed sources at the commission had
revealed that INEC had failed to comply with the government’s directives
on the TSA, due largely to the peculiar activities of the body as the
nation’s electoral umpire which should qualify it for exemption from the
new directive.
It was further gathered that the
decision of the governments 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 our source further revealed that
the leadership of INEC on Tuesday met with representatives of the
Federal Government and CBN, with a view to resolving the issue which he
added has thrown everybody almost off balance.
The source said, “It has not been easy
at the commission because all activities here are almost grounded
following the decision of the federal government to block all our
accounts. They said that INEC has refused to comply with the directive
on Treasury Single Account. As we talk now, we have not been able to pay
workers salaries for September because we cannot have any access to the
commission’s accounts. Our numerous contractors have been coming
everyday for payments that have been due but there is no cash at hand to
settle them.
“But the good news is that the
commission’s leadership has finally met with them and they have agreed
to sort out the whole matter. Hopefully the commission will come back to
life very soon and try to settle the issue of workers salary which is
very important”.
According to him, depending on the level
of resolution and funds that will be available, the issue of debts owed
to contractors would also be addressed.
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