Not lacking in laws to curtail the infiltration of “bad money” into the electoral process, Nigeria is however acutely lax in implementing these laws. Each of them has laws that govern their infiltration into campaigns. While contributions that are made directly to a particular candidate are called hard money the ones that go to political parties are labeled soft money. It is why in the US, there is a demarcation between what is called hard and soft money in campaign financing. This they do by donating huge amounts of money to candidates and political parties during electioneering and wringing commitments off them for favours of state commitments in policy and funding when elected. Many a times as well, it provides opportunities for individuals and corporations to hold governments by their esophagus. While private funding of political candidates and political parties by individuals looks harmless enough, it is most times an innocuous channel of funneling drug proceeds and slush funds into the system. In America and other democracies, violations of these laws carry strict penalties. To safeguard the integrity of the electoral process, laws are enacted to guide and guard the infiltration of “bad money” into elections. These funds are expended on recruitment of staff of campaign offices nationwide, advertisements, travels, logistics and many more. Between the year 20, it was estimated that the total spending in American presidential elections almost doubled from $3.1 billion to $5.8 billion. For instance, research shows that there has been a phenomenal and massive increase in funds allocated to campaign financing in the United States. Elections require considerably huge expenditure. Indeed, there is an increasing personalization and humanization of money as the one who ensures, in the democratic process, that, as the Americans say, it is not over until the fat lady sings. Because money is both spirit and human, money has mouth, talks and is a major voice in electoral politics. This is because it involves major ethical issues that can compromise the integrity of the electoral process.Īll over the world, election campaigning is not a tea party. In developed democracies, campaign financing is a big issue which the state is interested in. It is the how, when and where political parties and individuals vying for elective offices will raise and spend money with which they will influence political votes in their favour. So, how will Bola Tinubu, Atiku Abubakar, Peter Obi and presidential candidates of other political parties in Nigeria fare in the rat race to outspend one another? Where does each of them hope to secure this breathtaking campaign funding?Ĭampaign funding or financing is a major and important part of the electoral process. More fundamentally, it is a season to witness the ascendancy of a massive, multi-billion Naira campaign industry which rivals the national budget. It is also a period of psychological warfare when the hearts of electors become targets for the Cupid arrows of desperate politicians. It is a season when lies are sold for a farthing and purchased amid frenzy. For those who relish colour, panache and flurry of demagogical words, Nigeria’s political campaign offers a multiple variety similar to Dolly Parton’s coat of many colours. September is Nigeria’s presidential campaign flag-off, preparatory to the February 2023 election.
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