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KDI Demands Tougher Rules On Political Cash Flow
A new report by the Kimpact Development Initiative (KDI) has called for stricter oversight of political campaign financing in Nigeria, recommending that the Independent National Electoral Commission (INEC) establish independent finance committees within political parties to ensure compliance with regulations.
The report, which assessed political finance in Edo and Ondo states, was presented in Abuja on Tuesday by KDI’s Head of Research and Strategy, Oluwafemi John Adebayo.
He emphasised the need for grassroots funding models, such as small-donor contributions, to enhance financial transparency in elections.
The KDI report proposed several measures to improve political finance oversight, including:the reintroduction of a data-driven formula for setting campaign spending ceilings, incorporating cost-per-vote share (CPV) analysis, inflation rates, and the number of registered voters.
“Periodic reviews of expenditure limits based on empirical data from previous elections and mandatory real-time reporting of major campaign expenditures and contributions for immediate oversight.
“Requiring political parties to submit pre-election financial reports in addition to post-election audits.
“Strengthening the Campaign Finance Monitoring Unit and the inter-agency committee on campaign finance with clear guidelines and frameworks.
“Collaborating with financial institutions to track political transactions and flag suspicious expenditures and increasing penalties for electoral finance violations to make them financially consequential.
“Mandating media outlets to report the cost of political advertisements to INEC for verification”,he said .
Speaking at the presentation, the Chairman of the Economic and Financial Crimes Commission (EFCC), Olanikpekum Olukoyede, commended KDI’s efforts in promoting transparency and accountability in Nigeria’s electoral process..
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Represented by Effa Okim, he highlighted the risks of financial inducements and other irregularities in elections, warning that they could undermine the legitimacy of electoral outcomes and governance.
“The way leadership emerges often reflects the standards of the electoral process, and concerns about undue financial influence in elections have been widely discussed,” Okim stated.
The Chairman of the House of Representatives Committee on Electoral Matters, Adebayo Balogun, also reaffirmed the legislature’s commitment to electoral reforms.
“While financial resources are essential for campaign activities, there is a compelling need to ensure that political financing remains within legal limits and does not become a tool for unlawfulness or the subversion of democracy,” Balogun said.
KDI Executive Director Bukola Idowu expressed concerns about the presence of unregulated financial flows, often referred to as “dark money,” in Nigerian politics.
He noted that both major political parties operate under large financial structures with little transparency or accountability.
“This lack of transparency and disregard for legal compliance, particularly concerning Section 221 of the 1999 Constitution and the Electoral Act of 2022, have significant impacts on the electoral and democratic process in Nigeria,” Idowu stated.
He emphasised that addressing political finance issues requires collective action, adding that KDI remains committed to promoting integrity, fairness, and accountability in the electoral system.
The United Kingdom’s Foreign, Commonwealth & Development Office (FCDO) has been a key supporter of KDI’s research.
Speaking at the event, FCDO representative Mathew Ayibakuro underscored the importance of data-driven governance and transparency in political finance.
“As we all know, political finance is at the very heart of democratic integrity. Reports like this provide valuable insights into the mechanics of campaign financing and help guide policy discussions on electoral reforms,” Ayibakuro said.
US President Donald Trump has asserted that he is not jesting about his ambitions for a third presidential term, despite the constitutional restrictions in place.
While the U.S. Constitution prohibits any individual from serving more than two four-year terms, Trump indicated that it is premature to delve into such considerations.
Having assumed office for his second, non-consecutive term on January 20, Trump has hinted at his desire for a third term, addressing the matter more directly in a telephone conversation with NBC News.
“No, I’m not joking. I’m not joking,” Trump reiterated, though he acknowledged, “it is far too early to think about it.”
He hinted at potential avenues to pursue this goal without providing specific details.
According to the 22nd Amendment of the U.S. Constitution, U.S. presidents are limited to two terms, whether consecutive or not. To amend this constitutional provision would require a two-thirds majority in both houses of Congress, followed by ratification from three-fourths of the 50 state legislatures.
Some of Trump’s allies have suggested the feasibility of extending his stay in the White House beyond 2028. Trump himself has alluded to this notion on multiple occasions, often in a manner that challenges his political adversaries. Should he pursue another term after the November 2028 election, he would be 82 years old, having previously made history as the oldest president at the time of his inauguration.
The tradition of limiting presidential terms was established by George Washington in 1796. This practice was largely followed for over 140 years until Franklin D. Roosevelt broke the norm by winning a third term in 1940. Roosevelt, who led the nation through the Great Depression and World War II, sadly passed away during his fourth term in 1945, leading to the enactment of the term limits amendment in 1951.
Steve Bannon, a long-time adviser to Trump, expressed in a March 19 interview with NewsNation his belief that Trump will indeed run again in 2028. Bannon noted that he and others are exploring ways to facilitate this ambition, including reviewing the definition of term limits. “We’re working on it,” he stated, underscoring the ongoing discussions surrounding Trump’s political future.
Traders in Lagos have voiced their concerns regarding the significant decline in food sales, particularly for pepper, attributing the downturn to rising prices and the diminished purchasing power of local residents.
In interviews conducted by the News Agency of Nigeria (NAN), both traders and consumers shared their experiences regarding patronage as the Sallah celebration approaches.
Mr. Rabiu Zuntu, Chairman of the Tomato Growers and Processors Association of Nigeria (Kaduna chapter), linked the situation to the heightened prices of produce and the weakened purchasing capacity of consumers. He stated, “Pepper prices in the north are also steep, with a jumbo 50kg bag reaching as high as N150,000, compared to N60,000 to N70,000 just months ago. This price surge may adversely affect the Sallah festivities, as only a few consumers may afford these products.”
Zuntu further explained, “Currently, we are outside the pepper farming season. Insufficient rainfall has led to a scarcity of this commodity, with only a handful of farmers involved in irrigation. Many will resort to using dried pepper, which is more affordable during this time, although demand remains low. We anticipate an increase in demand as the celebration nears.”
Mrs. Mistura Balogun, a pepper vendor at Lawanson Market in Surulere, echoed these sentiments, noting the unusually low customer turnout. “It’s not just pepper that has become expensive; many other goods have seen price increases as well. Typically, this time of year should see a bustling market, but today is quite different. I have been at my stall since morning, and the number of customers is minimal,” she lamented.
Similarly, Mrs. Mojisola Gbadegesin, another pepper seller at Idi-Araba market, reported a stark decrease in patronage. “Despite the high prices, we usually see customers buying pepper, but this year is different. The market feels deserted, and business is sluggish,” she remarked.
Mrs. Judith Amen, also a foodstuff vendor, highlighted that the rising prices of pepper and other food items are likely to escalate further as the celebrations peak. “At the start of the week, a small bag of scotch bonnet pepper was priced at N70,000, and I expect prices to soar over the weekend due to Sallah. A good quality bag of rice is selling for N85,000, while lower-quality options range from N60,000 to N75,000. Although patronage is currently low, we anticipate an uptick a day before Sallah, but consumers will only purchase what they can afford,” she explained.
Mr. John Nwabueze, a trader in the Agege area, expressed frustration over the lack of customers as Eid celebrations begin. “Sales have been notably low, with people buying only what their budgets allow. The market has been unusually quiet, affecting all commodities, including rice. A 50kg bag of rice is priced between N76,000 and N78,000, yet sales remain sluggish this Sallah,” he noted.
Mrs. Amina Fakunle, a resident of the Alimosho area, remarked that the high cost of pepper would lead consumers to celebrate in a more subdued manner. “Just six pieces of pepper cost about N500, which is the lowest price available. With these prices, people will likely opt for a low-key celebration,” she stated.
Mr. David Oriafo, a resident of the Dopemu area, also commented on the lack of festive activity in the market. “I managed to purchase a few items for my family to save costs, but it’s evident that the usual festive buzz is missing. People are only buying what they can afford, much like myself,” he shared. (NAN)
A Nigerian boxer, Segun “Success” Olanrewaju, has died after slumping during a boxing match in Ghana.
The Secretary-General of the Nigerian Boxing Board of Control (NBB of C), Remi Aboderin confirmed the death of the boxer on Sunday.
The 40-year-old boxer, nicknamed “Success”, stumbled to the canvas while fighting Jon Mbanugu, a Ghanian, at Fight Night 15 of the Ghana Professional Boxing League at Bukom Boxing Arena, Accra, on Saturday.
Olanrewaju was not punched or near his opponent when he collapsed violently in round three of the light-heavyweight bout.
The referee called the match immediately, and medical aid was ushered into the ring.
Olarenwaju died after he was rushed to Korle Bu Teaching Hospital.
Ther boxer was a former West African and national light-heavyweight champion.
He competed in 24 bouts with 13 wins, eight losses, and three draws.
In 2022, Chukwuemeka Igboanugo, another boxer, also died after suffering a technical knockout (TKO) in a bout at the National Sports Festival (NSF) in Delta.
Igboanugo died after he took a fatal blow to the nose and did not survive the hit.