IIARD International Institute of Academic Research and Development

Journal of Business and African Economy (JBAE )

E-ISSN 2545-5281
P-ISSN 2695-2238
VOL. 10 NO. 1 2024
DOI: https://doi.org/10.56201/jbae.v10.no1.2024.pg57.62

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Unraveling the Nexus: Money in Nigerian Politics and the Imperative of Campaign Finance Regulations

Frank Prince Diepreye & Keremah Helen Erepagamo

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Abstract

This article examines the pervasive influence of money in Nigerian politics and the imperative of implementing effective campaign finance regulations. In Nigeria, financial resources wield considerable power in shaping electoral outcomes and policymaking processes. The prevalence of vote-buying, patronage networks, and campaign spending undermines democratic principles of representation and accountability. Despite the existence of campaign finance regulations, challenges such as weak enforcement mechanisms and regulatory loopholes persist, perpetuating electoral malpractice and eroding public trust in democratic institutions. Through a comprehensive analysis of the dynamics of money in Nigerian politics, this article underscores the necessity of strengthening regulatory frameworks, enhancing transparency measures, and promoting civic education to foster a more equitable and participatory political landscape. Addressing systemic issues such as corruption and political exclusion is essential for upholding the integrity of electoral processes and realizing democratic ideals in Nigeria.

keywords:

Nigeria, politics, campaign finance, regulations, democracy, transparency, accountability, electoral process.

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References:

234Vote (2015): What the law says about campaign financing. borg. Research.
(https://www.borg.re/articles/234votes/234vote-what-the-law-says-about-campaign-
financing)

Adegoke, A. I., & Ismail, O. S. (2020). "Money and Politics in Nigeria: Challenges and
Opportunities." Journal of Contemporary African Studies, 38(3), 295-312.

Adeleke, S. (2022). The Role of INEC in Enforcing Campaign Finance Laws in Nigeria. Electoral
Governance Review, 5(1), 33-47.

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