Vice President Yemi Osinbajo says a cashless policy in Nigeria can help stop the rise of illegal election funding by making it easier to find the source of funds.
He spoke on Monday at the Presidential Villa when he met with 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.
Prof. Osinbajo said though cash transactions make it hard to keep track of election funding, there were still infrastructure issues that need to be fixed before the country can have a cashless system that works well.
He said the way elections are paid for in the country right now means that “so much money can be spent without being tracked.”
His words: “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.”