Financial experts on Saturday said the hurried postponement of the general elections by the Independent National Electoral Commission (INEC) would make vulnerability and influence inflow of foreign investments.
They told newsmen in isolated meetings in Lagos that the hurried postponement a couple of hours to the Presidential and National Assembly decisions was bad for the economy and financial specialists’ certainty.
Mr Moses Igbrude, Publicity Secretary, Independent Shareholders Association of Nigeria, said the deferment of the presidential decision around the same time of the race was terrible. Igbrude said the deferment was unsuitable and ought to be censured completely.
He said the move would make vulnerability and uncertainty on the capacity of the commission to gather information.
Malam Garba Kurfi, the Managing Director, APT Securities and Funds Ltd., said the postponement of the elections would be a colossal expense to the economy in perspective on the way that schools had been shut for just about three days in front of the races.
Kurfi said numerous organizations and markets had been shut because of the races while numerous people had headed out to different goals so as to cast their votes just for it to be delayed.
“Logistics cost have been incurred by INEC; where will they get extra budget to augment the short fall. “It is clear that we are not ready to learn from the past mistakes. INEC should learn to make contingency arrangements rather than postponement.
“This will not allow the rest of the world to take us as a serious nation. The Presidency should set up a committee to investigate the reason for the postponement and whoever is responsible for it should be brought to book,” he said.
Igbrude said the improvement would make monetary waste and untold hardship to the electorate, taking note of that, numerous individuals had headed out to different areas to practice their urban duty.
He criticized the impact of financial waste the delay would have on state governments, private organizations and outside and nearby race onlookers.
Igbrude included that some state governments had pronounced sans work days while a few associations labored for a half-day so as to get ready for the decisions.
“This action will surely frustrate and discourage the electorate from voting. I sincerely appeal to INEC and President Muhammadu Buhari not to throw Nigeria into problem.
“They should make sure that they conduct elections that will be free and acceptable to everybody,” Igbrude stated.
He, however, appealed to voters to be calm and ensure they perform their civic responsibility.
Omordion said the deferment a couple of minutes to the race day would additionally back off financial exercises and too cause wary exchanging the country’s bourse. He said financial specialists’ certainty as found in the ongoing securities exchange bounce back would be hosed with the advancement.
Omordion asked why INEC had been bolstering Nigerians with falsehoods that they were set up for the races possibly to report a move when it made a difference most.