‘Reaffirm law banning companies’ donations to political parties’

The federal government has been called upon to reaffirm the law that bans companies from donating to political parties’ and candidates’ campaign finances in the country. The lead director, of a Civil Society Group (CSG), Centre for Social Justice (CSJ), Barr. Eze Onyekpere, made the suggestion while speaking with journalists in Abuja. He also said […]

The federal government has been called upon to reaffirm the law that bans companies from donating to political parties’ and candidates’ campaign finances in the country.
The lead director, of a Civil Society Group (CSG), Centre for Social Justice (CSJ), Barr. Eze Onyekpere, made the suggestion while speaking with journalists in Abuja.
He also said that government should ensure that donations to candidates and political parties are made tax deductible.
“There is need to be a reaffirmation in the law of the ban on companies donating to political purposes and to candidates’ campaign finances. Donations to candidates and political parties should be made tax deductible up to a maximum limit of the N1 million ceiling for the individual donations to candidates,” he said.
He recommended that the Electoral Act should provide for compulsory collaboration between government agencies like the Federal Inland Revenue Service (FIRS), INEC and the anti-corruption agencies to determine the sources of funds donated to candidates and political parties.
He insisted that donors should be followed up by Federal Inland Revenue to verify their tax payments to the treasury.
He said penalties for spending in excess of the ceiling should be increased to not less than a fine of 50 per cent of the value of the excess expenditure and the terms of imprisonment should be increased to not less than two calendar years.
Onyekpere, suggested that the penalties should include debarment from participation in politics for a period of two years.