Section 94 - Disclosure by political parties

(1) A political party shall not accept or keep in its possession any anonymous monetary or other contribution, gift or property, from any source.

(2) A political party shall keep an account and asset book into which shall be recorded -

(a) all monetary and other forms of contributions received by the party; and

(b) the name and address of any person or entity that contributes any money or asset which exceeds ₦100,000,000.

(3) A political party shall not accept any monetary or other contribution from an individual or an organisation which is more than the limit which may be prescribed by the Commission under section 92 (1) of this Act.

(4) A political party that is in breach of subsection (3), commits an offence and is liable to a fine of not less than ₦5,000,000 and in addition, forfeit the excess on the prescribed sum to the Commission.

(5) A political party sponsoring the election of a candidate shall, within three months after the announcement of the results of the election, file a report of the contributions made by individuals and entities to the Commission.