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2023: EFCC Writes INEC, Demands Parties, Aspirants’ Bank Details

Published

3 years ago

May 14, 2022.

Yinka Akanbi

EFCC has asked INEC to furnish it with the bank accounts and other financial details of the political parties
While the ruling APC sold its presidential forms for ₦100m, the main opposition party pegged its forms at ₦40m

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EKO HOT BLOG reports that the Economic and Financial Crimes Commission (EFCC) has launched a discreet investigation into the finances of the 18 political parties in the country and their presidential aspirants.

This followed the humongous fees paid for expression of interest and nomination forms by aspirants vying for various elective offices in the parties.

The anti-graft agency has, therefore, asked the Independent National Electoral Commission to furnish it with the bank accounts and other financial details of the political parties.

It also asked the managing directors of Access Bank and Polaris Bank to provide the details of the 14 accounts operated by the All Progressives Congress and the Peoples Democratic Party and another organisation believed to be connected to the opposition party.

While the ruling APC sold its presidential forms for ₦100m, the main opposition party pegged its forms at ₦40m. In addition, the APC governorship aspirants paid ₦50m, while persons who declared for the Senate, House of Representatives and state Houses of Assembly paid ₦20m, ₦10m and ₦2m, respectively for their nomination and expression of interest forms.

On the other hand, the PDP sold its governorship forms for ₦21m; Senate, ₦3.5m; House of Representatives, ₦2.5m; and state Houses of Assembly, ₦600,000.

While the other parties charged lesser amounts for their forms, the exorbitant nomination fees charged by the two dominant parties angered many Nigerians with Transparency International describing the development as a form of money laundering.

Bawa said the commission would be working with INEC and other election-related organisations to track the sources of the money spent on the purchase of nomination forms.

FURTHER READING

He noted, “When it comes to the issue of monitoring election funds as well as candidates’ funds that has to do with the work of INEC in this regard. But, of course, we are working hand in glove with INEC and other related agencies in that field to ensure that we follow the money.

“We want to know the source, whether it is legitimate or illegitimate, because that is what concerns us.”

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