Political parties and candidates for the 2023 elections can only accept a maximum of N50 million in donations – INEC warns

The Independent National Electoral Commission (INEC) has said political parties and candidates for the 2023 elections can only accept a maximum of N50 million in donations from individuals, groups or entities as support for their election bid. ?
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The commission, however, said a political party or a candidate shall not accept any monetary or other contribution, which is in excess of N50, 000, and 000 except if it identifies and discloses the source of the contribution to the Commission. ?
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This is contained in the guidelines for the conduct of political rallies, processions and campaigns as well as finances and election expenses of political parties, candidates and aspirants for the 2023 general election, released on Friday.?
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The document reads in part: “The maximum amount of money or other assets that an individual, a group of individuals or an entity can donate to a political party or aspirant for an election shall be N50 million.?
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“Contribution to candidates by an individual or entity shall be from 150 days allowed for campaigns to election day. Contribution to aspirants by an individual or entity shall be from the date notice of the election is published to the conclusion of party primaries.”?
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According to the document, election expenses of a political party mean all expenses in cash or otherwise incurred by a political party or candidates as well as party primary expenses of aspirants from the date notice of election is published to the day of election only.?
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“They exclude expenses incurred before the publication of notice of election. Election expenses of off-cycle or other elections shall relate to the period between the publication of notice for a particular election by the Commission and the date of the election. The election expenses of a candidate shall not exceed the limits prescribed in the Electoral Act, 2022.”?