Claim:

The Central Bank of Nigeria (CBN) has released N500 million in new banknotes to shore up the campaign of the Labour Party (LP) in Lagos State.

Full Text

A widely circulated claim on some newspaper websites and social media pages that the Central Bank of Nigeria (CBN) released N500 million in new banknotes to shore up the campaign of the Labour Party (LP) in Lagos state ahead of Saturday polls.

The Nation Newspaper reported that sources last night told them that CBN [the apex bank] has released N500 million in new banknotes to shore up the campaign of the Labour Party (LP) in Lagos state ahead of Saturday’s Gubernatorial election.

According to the Nation sources, the cash bonanza is intended to give undue advantage to the LP candidate, Mr. Gbadebo Rhodes-Vivour, over the two other major contestants – incumbent Governor Babajide Sanwo-Olu of the APC and Mr. Olajide Adediran of the Peoples Democratic Party (PDP), whose campaign and mobilization have been seriously affected by the cash squeeze caused by Emefiele’s Naira redesign policy.

Aside from Emefiele’s N500 million cash, the LP has also reportedly received $2 million cash from a famous retired billionaire general, who hails from the North, the paper reported.

The provision of dollars for LP is to match the APC candidate in the Lagos polls “dollar-for-dollars”, the source added.

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