You Can’t Operate A Foreign Account Or Receive Funds From Abroad -INEC Tells LP, Others

Recall that the campaign team of Labour Party (LP) presidential candidate Peter Obi made moves to raise funds from Nigerians in the diaspora in order to sponsor the presidential election on February 25, 2023.

Reacting to this, INEC National Commissioner Festus Okoye said on Channels Television’s Politics Today that parties are not allowed to get money in secret.

The rule could hurt parties like the Labour Party, which have relied on donations from Nigerians living abroad to fund their campaigns.

Mr. Okoye said that the Nigerian constitution makes it clear in Section 225 that no registered political party in Nigeria can get money from outside of the country.

In other words, a political party cannot open an account outside of the Federal Republic of Nigeria and have funds transferred into it.

“Secondly, it clarifies that no political party shall, under any circumstances, retain cash remitted to it from outside.”

“And if such funds are transmitted to a political party from outside the country, the political party has a constitutional and legal obligation to report such payments to INEC within 21 days of receiving such funds,” the Constitution and the law state.

Written by Grandbros

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