Socio-Economic Rights and Accountability Project (SERAP) has asked all political parties and their presidential candidates to disclose their sources of funds for campaigns ahead of the 2023 general elections.

SERAP said it was concerned about politicians’ “vulnerability to corruption”, hence the need for financial transparency.

In a letter signed by SERAP deputy director Kolawole Oluwadare and addressed to the presidential candidates, the organisation asked the candidates to demonstrate leadership traits by telling “campaign councils and political parties to regularly and widely publish the sources of their campaign funding.”

The organisation argued that publishing the funding details on websites and social media would enable citizens to investigate the sources.

“If Nigerians know where the money is coming from, they can scrutinise the details and hold to account the candidate and party that receive it.”

It added, “Transparency in campaign funding would improve public trust in Nigeria’s politicians and political parties and show your commitment to prevent and combat corruption if elected.”

SERAP also threatened to take legal action against parties in cases of financial abuse.

“SERAP urges you to sign ‘transparency pacts’ that would mandate you to disclose the identities of donors and widely publish donations and contributions, including on your party website and social media platforms,” it stated.

It stressed that transparency in funding would ensure fair elections and prevent corruption in processes.

“Opacity in campaign funding can distort the electoral competition and lead to state capture by wealthy politicians and individuals, and encourage politicians to divert public resources for political purposes.

“Please let us know if you and your political party are willing to commit to the issues outlined in this letter.”

It further appealed to the parties to invite relevant agencies such as the Independent National Electoral Commission (INEC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to monitor campaign activities.

Weeks ago, INEC stressed that it would monitor electoral activities and ensure that political parties act in compliance with the electoral laws.