The Independent National Electoral Commission (INEC) has barred political parties from receiving donation beyond N50m ahead of the 2023 general elections.
The electoral body stated this in a guideline it released on Thursday.
The guideline stated that, “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 N50,000,000 only.
“A political party shall not accept any monetary or other contribution which is more than N50,000,000 except it identifies and discloses the source of the contribution to the commission.”
The guideline further disclosed that contributions to candidates by individuals or groups can only be done within the 150 days to the election day.
The guideline emphasised provisions in the 2022 Electoral Act which limit expenses by presidential candidates to N5 billion. Governorship candidates are restricted to N1 billion in election expenses.
The maximum amount of election expenses to be incurred by a candidate in respect of senatorial and House of Representatives seat remain N100,000,000 and N70,000,000, respectively.
The breakdown of the guideline shows that state Assembly election candidates are limited to N30,000,000; area council chairmanship, N30,000,000; and councillorship candidates, N5,000,000.
The guideline for the conduct of political campaigns and rallies stipulates that, “A political party shall, for purpose of political rally or procession, issue in writing a notice to the commissioner of police of the state or the Federal Capital Territory indicating the exact venue and time of the rally or procession and pledging peaceful conduct and control against violence or public nuisance.
“Political parties shall transmit to the commission, through the electoral officer at the local government area and the resident electoral commissioner at the state, via a designated portal and also in hard copy, details of the schedule of their political rallies and processions at least 10 days to the date of the political rally or procession.”