Mr Mbeki noted that their role is to observe and assess the pre-election period, activities on polling day and the post-election period. In doing this, the group pledged to be objective, independent and impartial.
The Commonwealth observer group on Monday called for a peaceful election in Nigeria.
At a press briefing held in Abuja, Thabo Mbeki, former South African president and leader of the group, urged "stakeholders in Nigeria to uphold their commitment to ensure a peaceful and inclusive election in which the people of Nigeria are able to freely exercise their right to vote, with the fundamental freedoms of expression, association and assembly fully respected."
Underscoring the importance of a peaceful election in Nigeria, he said it will be Africa's largest democratic exercise. The outcomes of the elections will be significant not only for Nigeria but also for the entire continent, he said.
There are genuine concerns about election violence due to the insecurity across Nigeria, especially in the south-east and north-west regions.
PREMIUM TIMES reported the acute scarcity of cash across Nigeria due to the currency redesign by the Central Bank of Nigeria. Though old large-denomination notes have been withdrawn by the central bank, new notes introduced into the system have been grossly inadequate.
This has led to people spending hours in banks and has led to violent protests in some parts of the country.
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PREMIUM TIMES has also reported the violence in different parts of the country caused by armed groups. Armed secessionists in the South-east routinely attack security officials as well as officials and offices of the electoral commission, INEC.
In the North-west and some parts of the North-central, terrorists, locally called bandits, continue to attack locals in rural communities, displacing hundreds of thousands of people from their homes. The Boko Haram insurgency in the North-east, though degraded, has also not been totally eliminated.
Nigeria will hold presidential and federal legislative elections on 25 February while state elections will be held on 11 March.
Mr Mbeki noted that the Commonwealth team's role is to observe and assess the pre-election period, activities on polling day and the post-election period. In doing this, the group pledged to be objective, independent and impartial.
On 27 February, the group will announce an interim statement, which provides the group's preliminary assessment of the electoral process.
The Observer Group comprises 16 observers from different Commonwealth countries including politicians, diplomats and experts in law, human rights, gender equality and election administration.
The 16 observers will on 23 February be deployed to about seven states in the country.
Mr Mbeki also noted that the recent coup events in the West African region will not negatively affect the Nigerian election.
