Nigeria's Vice President, Yemi Osinbajo on Monday, January 30 stated that a cashless policy in Nigeria can help stem the surge of illicit election financing by making it possible to track funds.
He disclosed this 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.
He said, “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 added that “so much money can be spent without it being tracked,” under the current election financing practices in the country.
“With cash transactions, it is still difficult to seriously control election financing, ” the VP observed.