Impact of Naira Redesign on Vote Buying in Nigeria

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This study examines the impact of the Central Bank of Nigeria's (CBN) Naira redesign policy on vote buying during the 2023 governorship election in Makurdi Metropolis. The primary objective was to evaluate the effectiveness of this policy in reducing electoral malpractice and to identify the socio-economic factors influencing vote buying. Utilizing a survey research design, data were collected through questionnaires administered to a sample size of 400 residents, with 388 valid responses. The findings reveal that the Naira redesign significantly reduced vote buying activities, as perceived by 54.1% of respondents who reported an extreme impact, and 41.5% who noted a moderate impact. However, underlying socio-economic issues such as poverty, unemployment, and lack of education were identified as major contributors to vote buying. The study recommends sustained regulatory measures and socio-economic interventions to further mitigate electoral fraud and enhance democratic integrity in Nigeria.