INEC is charged with failing to ensure the publishing of political parties’ audited financial statements

In the letter, he stated that, “If we are truly serious about combating corruption and improving political inclusion, especially among the youths, we must start to properly investigate party financing, patronage, and godfatherism in Nigeria. I am not currently and have never been a politician. However, the job of creating our country is too important to be entrusted to only politicians.

“Based on this premise, I hereby demand that INEC publish the 2022 audited accounts of all the political parties in Nigeria and/or cause the parties to also publish the same within 14 days of receiving this letter.”INEC is charged with failing to ensure the publishing of political parties’ audited financial statements.

A lawyer named Femi Emodamori has expressed worry over the Independent National Electoral Commission’s (INEC) apparent reluctance to enforce the publishing of audited financial statements of political parties in Nigeria.

Emodamori demanded certified true copies of the audited yearly financial statements of all political parties in a letter submitted to Prof. Mahmood Yakubu, the National Chairman of INEC.

The attorney said that INEC has disregarded its critical duty of overseeing and directing the publishing of audited accounts of the money and spending of political parties by failing to cite different constitutional provisions in support of his claims.

He specifically cited Section 225 (1-2) and Paragraph 15(d) of Part 1 of the Third Schedule to the Constitution of the Federal Republic of Nigeria 1999 (as amended), as well as Section 89(3-6) of the Electoral Act.

The lawyer gave INEC a 14-day deadline to remedy the matter by providing the audited financial statements of political parties for 2022.

The attorney emphasised the significance of transparency in political financing and emphasised that the release of audited records will encourage accountability and aid in the fight against corruption inside political parties.

Emodamori contends that opening up financial records to the public would give voters important information about the financial operations of political parties, including details about the sources of their funding and how that funding is distributed and used.

Emodamori emphasised that the democratic process is undermined and that the public’s trust is diminished by the lack of openness in political fundraising.