The Economic and Financial Crimes Commission (EFCC) has launched an investigation into the finances of the 18 political parties in the country and their presidential aspirants.

This followed the humongous fees paid for expression of interest and nomination forms by aspirants vying for various elective offices in the parties.

The anti-graft agency has, therefore, asked the Independent National Electoral Commission to furnish it with the bank accounts and other financial details of the political parties.

It also asked the managing directors of Access Bank and Polaris Bank to provide the details of the 14 accounts operated by the All Progressives Congress and the Peoples Democratic Party and another organisation believed to be connected to the opposition party.

While the ruling APC sold its presidential forms for 100 million naira, the main opposition party pegged its forms at 40 million naira.

While the other parties charged lesser amounts for their forms, the exorbitant nomination fees charged by the two dominant parties angered many Nigerians with Transparency International describing the development as a form of money laundering.

Credit: Punch

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