Politics
Why Political Parties’ Audited Accounts Haven’t Been Published Since 2016 – INEC
Indications have emerged that the refusal of political parties to submit to the Independent National Electoral Commission their annual financial statement as required by the constitution and the Electoral Act has prevented the commission from monitoring their finances and publishing the same as mandated by the constitution.
INEC confirmed to The Tide source that it audited the accounts of the parties up to 2016 and it had gone far on their 2017 and 2018 accounts, whilst awaiting the remaining years.
INEC Chairman, Prof Mahmood Yakubu, said at a meeting with chairmen of political parties in March 2021 that only one political party complied with the constitutional provision, warning that their refusal to comply was in contravention of the law.
Yakubu had said, “I wish to remind you that the Electoral Act 2010 (as amended) requires each political party to submit two election expenses reports to the commission. First is the disclosure of material contributions received from individuals and corporate bodies three months after the announcement of the results of the General Election as provided for in Section 93(4) of the Electoral Act. So far, no political party is in compliance.
“Secondly, parties are required to submit audited returns of their election expenses within six months after an election as provided for in Section 92(3)(a) of the Electoral Act. Although we are still within the time frame provided by law, so far only one party has filed its returns. Similarly, the commission notes that only one presidential candidate has submitted financial expenses report. We wish to remind leaders of political parties of their obligations under the law.”
A top source in the commission however told our correspondent that the reason INEC had defaulted in publishing the accounts annually, in line with the constitution, was because political parties had refused to comply.
The source said, “The truth of the matter is that the parties have not been complying. I don’t know how many of them have been complying, but the big ones have not. These are our stakeholders and we meet with them, so we don’t want it to appear as if we are dragging them in the media.”
When asked why the commission did not sanction them for not complying, the source said, “We try to persuade them to do what is expected of them rather than wield the big stick. The current chairman likes to persuade people instead of imposing sanctions all the time. It is only when we try all persuasive means and they don’t change that we apply sanctions, and then they come begging.
“When the chairman comes out to speak like that, it’s a note of warning to them and we expect that they should understand. They don’t have to wait till the commission comes hard on them in that regard.”
Meanwhile, when asked why the commission has not published the parties’ audited accounts for years, violating the constitution that seeks to entrench transparency and accountability in the way the parties are run, the Chief Press Secretary to INEC Chairman, Mr Rotimi Oyekanmi, said, “The commission has audited the accounts of political parties up till 2016 and we have gone far on 2017 and 2018 accounts.
“However, the advent of the COVID-19 pandemic in 2019 slowed us down. Don’t forget also, the commission deregistered 74 political parties in February 2020 and we now have 18 political parties. However, we have made substantial progress and work on this issue will be completed in due course.”
Section 86 of the Electoral Act mandates every political party to submit its detailed annual statement of account to the commission, which would be audited by the commission and subsequently published in two national newspapers and the commission’s website.
Section 86 (1) states, “Every political party shall submit to the commission a detailed annual statement of assets and liabilities and analysis of its sources of funds and other assets, together with statement of its expenditure including hard and soft copy of its list of members or in such a form as the commission may require.
“(2) Any official of the political party who contravenes subsection (1) commits an offence and is liable to a fine of Nl,000,000 or imprisonment for a term of six months or both. (3) A political party shall grant to any officer authorised in writing by the commission, access to examine the records and audited accounts kept by the political party in accordance with the provisions of this Act and the political party shall give to the officer all such information as may be requested in relation to all contributions received by or on behalf of the party.
“(4) The commission shall publish the report on such examinations and audit in two national newspapers and the commission’s website within 30 days of receipt of the results.”
Similarly, section 15, under Part I of the Third Schedule of the 1999 Constitution (as amended), mandates the commission to “monitor the organisation and operation of the political parties, including their finances,” and “arrange for the annual examination and auditing of the funds and accounts of political parties, and publish a report on such examination and audit for public information.”
Also, Section 225 (1) states, “Every political party shall, at such times and in such manner as the independent National Electoral Commission and publish a statement of its assets and liabilities.” The subsection (2) adds, “Every political party shall submit to the Independent National Electoral Commission a detailed annual statement and analysis of its sources of funds and other assets together with a similar statement of its expenditure in such form as the Commission may require.”
When contacted on the reason for their refusal to submit their detailed accounts annually, some of the major parties did not answer their calls.
Claiming that elections in the country are typically characterized by vote buying, Mr Nwosu said a repeat of such phenomenon would taint the credibility of the forthcoming gubernatorial poll.
Mr Nwosu is among the 16 governorship candidates listed by INEC in a June 4, 2025 statement to participate in the November 8, 2025 election in Anambra State.
His party, the ADC, will battle it out with other parties to unseat incumbent Governor Chukwuma Soludo of the All Progressives Grand Alliance (APGA).
Mr Nwosu, in a statement on Saturday, said it was baffling seeing voters openly selling their votes to party agents and other representatives around polling units on election day.
According to him, “such practices not only derail the true will of the people but also reduce elections to an auction, where the state is effectively handed over to the highest bidder.”
Mr Nwosu urged INEC to introduce secure voting cubicles that would safeguard the legitimate rights of voters and uphold the sovereignty of democracy.
“INEC must provide secure voting cubicles to ensure ballots remain private and secret. Currently, many polling areas are too exposed, allowing others to see the voting process. This not only encourages vote buying but also undermines the integrity of the elections.
“Voting must remain secret. Nigeria already has strong electoral laws which, if properly enforced, can deliver outcomes that truly benefit society”, Mr Nwosu said.
He held that the Anambra governorship election was another opportunity for INEC to secure the trust of Nigerians about its commitment to transparency and fairness during polls.
He also noted the role of security agencies in tackling the menace of vote buying on the day of election.
He said, “The success of any political activity depends largely on security, because security is key. While it is not solely INEC’s duty to ensure elections are properly conducted, the Commission must create an enabling environment that allows citizens to participate freely, conduct themselves properly, and exercise their right to vote.”
The party, in a statement by its National Publicity Secretary, Obiora Ifoh, called on the relevant security agencies to investigate the attackers and their sponsors.
“The Labour Party is perplexed by the physical attack on our National Chairman, Barrister Julius Abure, by agents suspected to be working for anti-democratic elements who have tried unsuccessfully to wrestle the leadership of the party from him.
“Few hours ago, a prominent member of a known political family, Ms Precious Oruche, alias ‘Mama P’, accosted Barrister Abure while on a queue at the Nnamdi Azikiwe Airport Abuja, boarding a Max Air flight en route to Benin, and attacked the Labour Party’s National Chairman unprovoked.
“The attacker, Madam P, who is also a known content creator, continued the attack all through the duration of the flight, defying all attempts by the Max Air flight attendants to calm her.
“The assault, which attracted a large population of onlookers, continued unabated on disembarkment at the Benin Airport while she continued recording the scene.
“It took the intervention of the security agents on hand to whisk Abure to safety while the attacker was handed over to the police for questioning.
“In one of her films released, the lady, who is a prominent member of the ‘Obidient’ and claimed that she has contacts with the highest police hierarchy, boasted that nothing will happen to her.
“She vowed that she will not stop attacking Abure or any member of the Labour Party executive because, according to her, ‘you have killed Labour Party and you are the reason why Obi is no longer in the Labour Party.’
“The leadership of the Labour Party is completely troubled with this cyber-bullying and the consequences of the action of this political agent on the party. We are by this statement calling on the Inspector General of Police to thoroughly investigate this suicidal aggression against the leadership of the Labour Party and Barrister Julius Abure in particular.
“We sincerely believe that the lady-agent was on an assignment to accomplish the desires of her paymasters. Assault and cyber-bullying are severe crimes under our laws and we think that the Police must fish out her sponsors and cohorts, and bring them to book.
“We are calling on the members of the Labour Party to be calm, even in the face of this unwarranted provocation and wait for the outcome of the investigation on the unprovoked attack against the leadership of the party,” the statement read.
Speaking during the party’s congress in Yola, the state capital, on Saturday, Mr David Lorhenba, the chairman, Adamawa Congress Committee, described the exercise as hitch-free.
He said that a total of 2,656 delegates from 21 local government areas came out and elected 39 officials.
Mr Lorhenba commended the delegates for conducting themselves in an orderly manner.
“The conduct of the congress is very successful, all the delegates come from 21 Local Government Areas and cast their votes peacefully.
“We have a total of 2,656 delegates and we have announced the winners very successfully”, he said.
In his remarks, Alhaji Attahiru Shehu, the outgoing chairman, congratulated the new executives and charged them to continue on what they have already done for the party to remain strong.
According to him, they started as opposition in the state and produced Gov. Ahmadu Fintiri who is serving his second term, opining they “he has done well for the state.”
In his acceptance speech, Mr Madagali thanked the delegates for the confidence they reposed in him.
He promised to run an open door policy in manning the affairs of the party.
“Let us continue the legacy of good governance and prepare ahead for 2027 with focus, discipline and unity.
“To those outside our party, especially the youths and women of Adamawa, we invite you into our party.
“PDP is your home. Our doors are open to all who wish to contribute positively to the development of our state.
“Our party will continue to be a shining example of people-focused on leadership,” he said.
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