Big Politics

INEC Gives Parties Dateline To Remit Foreign Donations

INEC Gives Parties Dateline To Remit Foreign Donations

The Independent National Electoral Commission (INEC) says political parties are required to “turn in” donations received outside Nigeria to it in accordance with extant laws.

Festus Okoye, INEC spokesman, disclosed this in an interview with Channels TV on Friday night, warning political parties against receiving donations from abroad.

Remit Foreign Donations

“If such funds are remitted to the political party from outside the country, that particular political party has a constitutional and legal obligation to turn in such funds to INEC within a period of 21 days from the date of receipt of such funds” Mr Okoye said.

Remit Foreign Donations
Remit Foreign Donations

Citing Section 225 of the Nigerian constitution, Mr Okoye said it is clear that “no registered political party in Nigeria shall possess any funds outside the country.

In other words, a political party cannot open an account and have monies remitted into that particular account outside the Federal Republic of Nigeria.”

Remit Foreign Donations

“Secondly it makes it clear that no political party shall under any circumstance retain any funds remitted to it outside the country” he added.

With electioneering activities towards next year’s general elections turning up a notch higher, candidates and political parties have turned to crowdfunding sources to solicit funds to prosecute their run-ins.

Remit Foreign Donations

On Friday, Labour Party’s presidential flag bearer Peter Obi, launched a campaign website, while calling for donations, media reported.

Similarly, popular musician turned politician, Bankole Wellington, known as Banky W, has solicited donations to contest the House of Representatives seat in Eti-Osa, Lagos State.

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