INEC Issues Guidelines On 2023 Election Financing

INEC Issues Guidelines On 2023 Election Financing

The Independent National Electoral Commission (@inecnigeria) has directed political parties to report donations from outside the country to the commission within 21 days of receiving such donations. They also put a N50m benchmark on donations.

These were contained in the guidelines for the Conduct of Political Rallies, Processions, and Campaigns, and Finances and Election Expenses of Political Parties, Candidates, and Aspirants released by the commission’s Chairman of Voters’ Education, Barrister Festus Okoye.

The statement reads in part, “The maximum amount of money or other assets that an individual, a group of individuals or an entity can donate to a political party or aspirant for an election shall be N50,000,000. A political party shall not accept any monetary or other contribution which is more than N50,000,000 except it identifies and discloses the source of the contribution to the Commission.

“Every political party that participated in an election shall submit to the portal designated by the Commission an audited report of its election expenses within six months after an election. The reporting period shall commence 360 days to, and including, the election day.

“Every political party sponsoring the election of a candidate shall submit to the portal designated by the Commission a report of the contributions made to it by individuals and entities within three months after the announcement of the results of an election. The report shall indicate the names, addresses, occupation of donor(s) and the amount.”