Thread by @thecableng

#NigeriaDecides2023: Vote-buying made easy? How naira redesign may boomerang | TheCable thecable.ng/nigeriadecides…

The Nigerian currency was redesigned apparently to curtail vote-buying in the 2023 general election — but there are indications that it may now be cheaper to buy votes as a result of the resultant hardship.

#NairaRedesign

The decision of the Central Bank of Nigeria (CBN) to redesign naira notes just before the 2023 general election received kudos and knocks, depending on who is doing the talking.

In an ironic twist, governors elected on the platform of the All Progressives Congress (APC) are against the policy while members and supporters of the opposition parties are in favour.

@officialABAT, the presidential candidate of the ruling APC, fired the first salvo when he said the hardship caused by the naira redesign policy and petrol scarcity was a ploy to make him lose the election.

He was believed to be talking about members of President @MBuhari’s inner circle.

While Tinubu’s outcry was read by the opposition to mean he was planning to buy the votes and had been stopped in his tracks by the redesign policy,...

...he sought to clarify his claim by saying he was only worried for Nigerians who were undergoing physical and economic dislocation caused by the twin scarcities.

A more neutral reading, though, would be that if indeed it is a plot to stop Tinubu, the aim was beyond keeping the new naira notes away from circulation. It would also be to anger Nigerians and make them vote against the ruling party because of the hardship.

#NigeriaDecides2023

Anyway it goes, Tinubu was expected to be hurt — either through inability to buy votes or voters rebelling against the APC.

Now, there are indications that the cost of vote-buying may even have dropped.

#NigeriaDecides2023
#NairaRedesign

NAIRA REDESIGN WILL HURT ALL CANDIDATES

Sharing money, or vote-trading, during elections in Nigeria is like a tradition, dating back to the first republic.

#NigeriaDecides2023
#NairaRedesign

There are various reasons: to reward voters, to facilitate their movements or to induce them. All purposes could also be served at one go.

However, Nigerian economy is largely informal and the unbanked is over 60 percent of the population, according to data from the National Bureau of Statistics (NBS).

The implication is direct: most Nigerians would rather deal with cash than electronic transfers, which are the alternatives being offered by the government.

This is where it will hurt everyone. There are over 176,000 polling units for the elections and each party is supposed to have a polling agent. Traditionally, they are paid legitimate allowances to cater for their feeding for the day. Click for more 👇🏾 thecable.ng/nigeriadecides…