Section 87
Power to limit contribution to a political party(1) The Commission shall have power to place limitation on the amount of money or other assets which an individual can contribute to a political party or candidate and to demand such information on the amount donated and source of the funds.
(2) Any individual, candidate or political party who exceeds the limit placed by the Commission in subsection (1), commits an offence and is liable on conviction to—
(a) in case of a political party, a fine not more than N10,000,000 and forfeiture of the amount donated; and
(b) in case of an individual, a fine of five times the amount donated in excess of the limit placed by the Commission.
This section, which was first introduced in the 2002 Electoral Act seeks to regulate private funding of political parties by an individual or group of persons and curb political mercantilism e.g., control by political “godfathers.”
Section 87 (1) provides that INEC shall have power to determine limits of donation of money or assets to political parties and candidates. Adds that INEC can demand information on the amount donated and source. (Candidates is a new insertion in the 2022 Act)
Note: INEC Guidelines on Party Finances caps donation amount to parties and aspirants at N50,000,000 (fifty million Naira). Note also that section 88 (8) prescribes a 50-million-naira limit for candidates. Despite this cap, Section 90 (3), allows a political party to accept monetary or other contribution exceeding 50 million naira if it can identify the source of money or contribution to the commission. This is replicated in the INEC Guidelines as well.
New provision in 87 (2) prescribes the punishment for going above INEC’s prescribed limit, which includes a N10,000,000 fine and forfeiture of the donated amount where it is a political party, and a fine of 5 (five) times the amount donated in excess of the limit where it is an individual.
