54. Must reports from political parties and/or candidates include information on itemized spending?

92. Election expenses of political parties

(1) For the purposes of an election, "election expenses" means expenses incurred by a political party within the period from the date notice is given by the Commission to conduct an election up to and including, the polling day in respect of the particular election.

(2) Election expenses incurred by a political party for the management or the conduct of an election shall be determined by the Commission in consultation with the political parties.

(3) Election expenses of a political party shall be submitted to the Commission in a separate audited return within 6 months after an election and such return shall be signed by the political party's auditors and counter-signed by the Chairman of the party and be supported by a sworn affidavit by the signatories as to the correctness of its contents.

(4) A political party which contravenes subsection (3) of this section commits an offence and is liable on conviction to a maximum fine of N l,000,000and in the case of failure to submit an accurate audited return within the stipulated period, the court may impose a maximum penalty of N200,000 per day on any party for the period after the return was due until it is submitted to the Commission.

(5) The return referred to in subsection (3) of this section shall show the amount of money expended by or on behalf of the party on election expenses, the items of expenditure and commercial value of goods and services received for election purposes.

(6) The political party shall cause the return submitted to the Commission pursuant to subsection (5) of this section to be published in at least 2 National Newspapers.

(7) Apolitical party that incurs election expenses beyond the limit stipulated in this Act commits an offence and is liable on conviction to a maximum fine of N 1,000,000.00 and forfeiture to the Commission of the amount by which the expenses exceed the limit set by the Commission.

(8) The Commission shall make available for public inspection during regular business hours at its Headquarters and State offices the audit returns of the political parties required by subsection (3) of this section which shall include the names, addresses, occupation, and amount contributed by each contributor to a party.

Electoral Act, 2010