KDI Demands Tougher Rules on Political Cash Flow

Folalumi Alaran in Abuja

A new report by thel Kimpact Development Initiative (KDI) has called for stricter oversight of political campaign financing in Nigeria, urging the Independent National Electoral Commission (INEC) to establish independent finance committees within political parties to ensure compliance with regulations.

The report, which assessed political finance in Edo and Ondo states, was presented in Abuja by KDI’s Head of Research and Strategy, Oluwafemi John Adebayo. He stressed the need for grassroots funding models, such as small-donor contributions, to enhance financial transparency in elections.

“We need a system where political parties rely on broader public contributions rather than a few wealthy individuals who dictate the process,” Adebayo said.

The report proposed key measures, including reintroducing a data-driven formula for campaign spending limits, periodic reviews of expenditure ceilings, mandatory real-time reporting of campaign expenditures, and pre-election financial reports from political parties.

It also recommended strengthening INEC’s Campaign Finance Monitoring Unit, collaborating with financial institutions to track political transactions, increasing penalties for electoral finance violations, and requiring media outlets to report the cost of political advertisements for verification.

Speaking at the event, the Chairman of the Economic and Financial Crimes Commission (EFCC), Olanikpekum Olukoyede, represented by Effa Okim, warned against financial inducements in elections.

“The way leadership emerges often reflects the standards of the electoral process, and concerns about undue financial influence in elections have been widely discussed,” Okim stated.

Chairman of the House of Representatives Committee on Electoral Matters, Adebayo Balogun, reaffirmed the legislature’s commitment to electoral reforms.

“While financial resources are essential for campaign activities, there is a compelling need to ensure that political financing remains within legal limits and does not become a tool for unlawfulness or the subversion of democracy,” Balogun said.

KDI Executive Director Bukola Idowu raised concerns over unregulated financial flows, often referred to as “dark money,” in Nigerian politics.

“This lack of transparency and disregard for legal compliance, particularly concerning Section 221 of the 1999 Constitution and the Electoral Act of 2022, have significant impacts on our electoral and democratic process,” Idowu stated.

A representative of the UK Foreign, Commonwealth & Development Office (FCDO), Mathew Ayibakuro, commended KDI’s work, emphasizing that “political finance is at the heart of democratic integrity.”