The commission said it hopes to end the exercise by the end of May for the 2020 parliamentary and presidential election.
The EC has asked Parliament to approve GH¢444,846,663 for the compilation of a new voters register which it believes will be more credible and efficient than the existing one.
The Director of Electoral Services, Dr. Serebour Quaicoe said: "We want to start by mid-April and by the end of May we would have finished."
In an interview on Accra-based Starr FM, he said the budget for the exercise has been approved but the EC is yet to receive the funds.
The commission said there is a need to replace outmoded biometric machines.
The EC said it has decided to go ahead with plans to compile new voters register after a meeting with IPAC which the National Democratic Congress (NDC) suggested it would be expensive to compile.
The NDC said there were no consultations with the EC to compile a 2020 voters' register.
However, the NDC has reiterated its opposition to the EC's move to compile a new biometric voters register.
The party said it is illogical.
Speaking on the claim by the National Identification Authority that it is willing to hand over its data to the EC, Dr. Serebour said: "We have a challenge with their data, we are targeting over 10 million people but they have about 7 million so we don't know when the will be ready. And besides, we have to attach a polling station to all those numbers".