Magu says EFCC will closely monitor election funds

The acting chairman of the Economic and Financial Crimes Commission (EFCC), Ibrahim Magu, has disclosed that the agency will monitor campaign funds donated to political parties and candidates for the 2019 general elections.

Magu said politicians are required to keep proper records of donations they receive as well as the identities of the donors and they should be ready to show relevant security agents at the end of the election.

The chairman, represented by his chief of staff, Olanipekun Olukoyede, at a one-day retreat for 36 state governors and key election stakeholders in Abuja on Wednesday said the agency will not allow public funds to be diverted to fund political campaigns.

He said, "We shall keenly monitor the financial affairs of political parties to ensure that the use of public funds to finance political parties and prosecute campaigns at all levels of government is checked.

"Political parties should be required to keep proper records of all incomes, contributions and expenditure, and to open their books for inspection by relevant security agencies after every electioneering cycle.

"In addition, politicians prosecuting campaigns must be required to keep proper records of all donations received by them including the identities of the donors; and to turn their books over to relevant security agencies, and to INEC for inspection after every electioneering cycle, including the costs of litigations arising from the elections and the source of funding for the litigations."

He stressed that to minimise the use of public funds to fund political parties and elections, "there is need for greater effectiveness in enforcing the provisions of the various electoral laws in Nigeria especially as it relates to penalties upon breach of their provisions."

Magu stressed that it is money being misappropriated for health, security, education, road construction, personnel costs and other amenities for the citizens that is used to fund election campaigns any time funds are diverted by an administration.

The EFCC boss also called on Nigerians to share credible intelligence with the agency on activities of criminal politicians.