The Independent National Electoral Commission (INEC) on Friday said political parties in Nigeria are not allowed to receive funds from foreign countries.
Speaking on Channels Television’s Politics Today, INEC National Commissioner, Festus Okoye, said parties are also not allowed to receive funds anonymously.
The provision may affect parties such as the Labour party who have looked to Nigerians in the diaspora to fund part of their campaigns.
“Section 225 of the Nigerian constitution makes it clear that no registered political party in Nigeria shall possess any funds outside the country,” Mr Okoye said.
By law, no registered political party in Nigeria can operate a foreign account or receive funds from abroad. They cannot also receive funds donated anonymously.
“In other words, a political party cannot open an account and have monies remitted into that particular account outside the Federal Republic of Nigeria.
“Secondly it makes it clear that no political party shall under any circumstance retain any funds remitted to it outside the country.
“And 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.”