Archived records of Vice President, Yemi Osinbajo Campaign Group in 2015 has revealed that some illegal transactions transpired before the election that brought President Muhammadu Buhari into power.
One of the campaign sponsors, Guarantee Trust Bank(GTB) donated over N200 million to Osinbajo Campaign Group which violates the federal campaign finance law, the records disclosed.
Investors King reports that the federal campaign finance law prohibits the donation of more than N1 million to a candidate in a presidential race.
The penalty for its violation includes harsh criminal punishment for both the giver and the receiver of any amount above the legal limit.
The Nigerian Electoral Act 2010, in section 91(9) states that “No individual or other entity shall donate more than N1,000,000.00 to any candidate. The punishment as contained in subsection 11– “any individual who knowingly acts in contravention of subsection (9) shall on conviction be liable to a maximum fine of N500,000.00 or imprisonment for a term of 9 months or both.”
The financial records stated that GTBank’s Investment One fund management department paid N200 million in three installments of N100 million, N50 million and N50 million to Osinbajo’s campaign account for the 2015 presidential election which brought him to the vice-president seat.
Also, further documents showed that Dapo Akinosun, the Managing Partner at Osinbajo’s law firm, SimmonsCooper Partners, deposited N50 million naira into the vice president’s campaign account ahead of the 2015 election as well.
Akinosun’s disbursement was in two installments, N25 million was sent into the campaign account twice.
The electoral law’s violation grin got wider as two other lawyers joined the train with N10 million each.
Their names were identified as Olufemi Atoyebi, the Principal Partner at Femi Atoyebi and Co, and Temitope Lawani, the co-founder and Managing Partner at Helios Investment Partners.
According to a political analyst, Ariyo-Dare Atoye, the breaking of an electoral law in Nigeria is a recurring anathema that must be looked into.
He noted that the electoral law has been violated from the inception of the law. “Right from the elections in 2011, after the 2010 law was promulgated, political parties and their candidates have continued to act in contempt of this campaign donation law.”
Atoye stated that most political office aspirants usually have their supporters or sponsors violate this law ignoring the laid down principles.
He added that the regulatory bodies are yet to establish strong operational guidelines to enforce the laid down electoral act.
“Once the Electoral Act 2022 becomes operational, we must leverage its newness to demand the operationalisation of the campaign donation regulatory law, including ensuring appropriate punishment for defaulters. Only a thorough implementation of election campaign financing rules can guarantee young Nigerians and women the chances of aspiring to contest and win,” he said.
