CHAPTER ONE
BACKGROUND OG THE STUDY
1.0 INTRODUCTION
Currency redesign is a procedure that is repeatedly launched by countries with the purpose of minimizing fraud, imposture, ameliorating the honesty and principle of the currency, mopping up cash outside the banking sector, and controlling inflation. The Central Bank of Nigeria (CBN) currently declared a redesign of the Naira notes, which embraces the introduction of new security components and design elements, and the filling of the current denominations of 200, 500, and 1,000 Naira notes with new ones. The redesign is timetabled to and predicted to have a major impact on divers sectors of the Nigerian economy, including the electoral process. One of the major effects of currency redesign on the electoral process is the electoral malpractice, of which vote buying is not an exemption. Vote buying is a circumstance that has become frequent in Nigeria's electoral process, with candidates and their supporters using cash to influence voters' decisions. Vote buying weakens the integrity and transparency of the electoral process and raises questions about the legitimacy of election outcomes. The introduction of new banknotes with enhanced security features may make it more difficult for political actors to engage in vote buying since the new currency will be less susceptible to counterfeiting, lesser volume in circulation and be easier to track which was evident with the arrest made in some part of the country on election day.
Vote buying is a common practice in Nigerian politics, specifically, during elections. It is a type of electoral malpractice that includes the exchange of money or gifts for votes (Adewumi, 2018). Vote buying cripples the honesty of the electoral process, intimidates the legitimacy of elected officials, and refuse citizens their right to a free and fair election (Omodia, 2016). Electoral malpractice in Nigeria, occurs at all levels of government, from local to national elections. It is frequently carried out by political parties and candidates to instigate, persuade voters and secure electoral victory (Nwankwo, 2019). Vote buying can take various forms, including direct cash payments, provision of goods and services, and promises of future benefits (Olugbenga, 2016). It is difficult to point out and bring to justice because it is often done in secrecy, and the beneficiaries are often not willing to report it. Therefore, any effort to address vote buying must be holistic and multifaceted.
The redesign of the Naira notes presents an opportunity to address electoral malpractice in Nigeria. The new banknotes incorporate new security features and design elements that make them more difficult to counterfeit. This could make it more difficult for politicians and their supporters to access huge funds or generate and distribute fake currency to buy votes (Ihenacho, 2020). The redesign could also make it easier for law enforcement agencies to detect and prosecute cases of electoral malpractice. Furthermore, the redesign aims to mop up cash outside the banking sector, which is often used for electoral malpractice, thereby limiting their financial muscle, and to discourage the growing kidnapping for ransom payment, which is often funded with cash. These measures could limit the availability of cash for electoral malpractice and make it more difficult for politicians to engage in this practice. The implications of the currency redesign for curbing electoral malpractice have not been fully explored. This study seeks to fill this gap by examining the impacts of the naira redesign on curbing electoral malpractice in Nigeria and the quality of the electoral process in 2023 general election. Against this backdrop, this study. Specifically seeks to examine and investigate whether the new banknotes had an impact on the prevalence and effectiveness of electoral malpractice in elections and whether the redesign has improved the overall transparency and integrity of the electoral process. The study is timely and significant, given the growing concerns about the integrity of Nigeria's electoral process and the need to ensure that it is free and fair. By shedding light on the potential impact of the naira redesign on the electoral process, this study will provide insights that can inform policy and practice aimed at promoting credible and transparent elections.
1.1 PROBLEM OF THE STUDY
Electoral malpractice harms democracy. It comes between, and obstructs the independence and rights of voters to fairly assess candidates for electoral offices which precisely decide the quality of governance and social contract that citizens will experience. Electoral malpractice only certifies limited, elections-bound benefits for a few, while gamble the long-term fortunes of the majority. It contributes to keeping politicians discharged for abusing public office when elected, and capture sensitive and defenseless voters in self-sabotaging, clientelist relationships with their political leaders. Electoral malpractice also discourages and blocks honest people from entering politics, because electoral success becomes associated with dishonest and unethical practices. Because electoral malpractice mostly depends on government funds, it administers a ready excuse for fraud and embezzlement and can engineer widespread corruption in the public sector. Irrespective of their negative effects, electoral malpractice is a common – yet difficult to quantify – feature of many democratic societies. The growth and success of such markets is seen as evidence of a young, stalling, or deconsolidating democracy, at the same time reflecting a cynical, disillusioned citizenry at the mercy of self-interested political elites. Due to the influence of electoral malpractice on electoral outcomes, an assessment of this practice makes available a paramount lens for understanding democratic development and the relationship between citizens, political leaders and government institutions in a democratic system. This briefing paper examines the impacts of the naira redesign on curbing electoral malpractice in Nigeria.
1.2 OBJECTIVES OF THE STUDY
This study seeks to fill this gap by examining the impacts of the naira redesign on curbing electoral malpractice in Nigeria and the quality of the electoral process in 2023 general election. Following objectives include;
1. To examine the impact of the naira redesign on the prevalence and effectiveness of electoral malpractice in elections in the 2023 general election.
2. To evaluate whether the redesign of the Nigerian currency has improved the overall transparency and integrity of the electoral process.
3. To investigate the attitudes and behaviors of voters, candidates, and election officials towards the new banknotes, and their perceptions of how the redesign has influenced the electoral process.
4. To identify any unforeseen consequences or negative effects of naira redesign on the electoral process, such as increased confusion or difficulties in handling the new banknotes.
1.3 RESEARCH QUESTIONS
1. How has the new naira notes affected the prevalence and effectiveness of electoral malpractice in elections in the 2023 general election?
2. How has the redesign of the Nigerian currency improved the transparency and integrity of the electoral process?
3. what are the attitudes and behaviors of voters, candidates, and election officials towards the new banknotes, and their perceptions of how the redesign has influenced the electoral process.
4. What are the unforeseen consequences of naira redesign on the electoral process, such as increased confusion or difficulties in handling the new banknotes in?
1.4 Research Hypothesis
H1: Naira redesign has a significant impact on the prevalence and effectiveness of electoral malpractice in elections in the 2023 general election.
H2: The attitudes and behaviors of voters, candidates, and election officials towards the new banknotes, and their perceptions of how the redesign has influenced the electoral process is negative.
1.5 Justification of the Study
This study will look intensively on the impacts of the naira redesign on curbing electoral malpractice in Nigeria. It will be beneficial to stakeholders in the educational sector such as teachers, parents, students, school management, and ministries of education, educational researchers, and the society at large.
This study is essential for several reasons: It contributes to an understanding of the current state of the new notes naira in the country, providing insights into whether the naira redesign has positively or negatively impacted the 2023 general election, if the redesign has helped in curbing electoral malpractice in Nigeria. The study sheds light on the specific impacts of naira redesign on electoral process and on Nigerians. The study can serve as a valuable resource for students, scholars seeking to research more on the topic, electoral candidates, and policymakers seeking to make informed decisions regarding the topic in question.
Educational researchers will see it as an addition to the literature on the impact of naira redesign on curbing electoral malpractice in Nigeria; giving them a concise and significant outlook of the topic. The recommendations will enhance electoral process.
Similarly, it is hoped that the results of this study will provide an insight to Nigerians to improve curb electoral malpractice and encourage electoral transparency.
1.6 Scope of the Study
The scope of the study is limited to impact of naira redesign on curbing electoral malpractice only. The study was carried out in Festac, Lagos Nigeria. The study was also limited to activities of 2023 general election. The study made use of both primary and secondary data. Questionnaires will be distributed and used for data collection from respondents.
