The Economic and Financial Crimes Commission (EFCC) has said that the Naira redesign policy of the Central Bank of Nigeria caused the lose of some politicians in the 2023 general election.

The Head of Media and Publicity of the antigraft agency, Wilson Uwujaren noted that the politicians were unable to share money to the electorates as a result of the cash shortage prior to the polls.

Speaking at a event on Wednesday, May 17, Uwujaren was of the view that
the naira redesign reduced electoral corruption during the elections and that some politicians lost in their strongholds because they did not have money to share.

“The violence during elections was caused by the unavailability of cash which was the CBN’s naira redesign policy because politicians could not buy votes. Some politicians lost elections in their strongholds which could not have happened because they didn’t have the cash to share,” Uwujaren said.