The Nigerian political parties were indicted in a report.

The external auditors appointed by the Independent National Electoral Commission, INEC, to audit the political parties in the country have indicted 54 of them for not adhering to the accounting procedures in their operations in 2011. According to the report, which is the latest by the auditors, while some of the parties ignored the conventional books of accounts, others did not have membership register at their headquarters during the year that the last general elections were conducted. Other lapses noticed in the operation of some of the parties include absence of self audit report (internal and external), non-existence of fixed asset and liability, and lack of fiscal control measures. Altogether, the accounts of 56 political parties, including those later de-registered, were audited by the external auditors. The exercise was concluded in February 2013.

The indicted
Among the major parties indicted by the Commission’s auditors are the Peoples Democratic Party, PDP; All Nigeria Peoples Party, ANPP; Congress for Progressive Change, CPC; All Progressive Grand Alliance, APGA; and the Labour Party, LP.

Only the Action Congress of Nigeria, ACN; and the Citizens Popular Party, CPP; escaped INEC’s hammer as they were found to have complied with the Political Party Financial Reporting Manual 2011 and Political Party Finance Handbook 2011.
ACN, in particular, was found to have maintained internal audit report and account as well as conventional books of accounts during the year under review. The auditors also said that budget and budgetary control of the opposition party were in place and that the party has a well defined fixed asset register while its membership register was in place.

On PDP, the audit report said, “The party does not have a prepared internal audited financial statement for the year.” It also noted that “Conventional books of accounts were not properly kept as required by Section 93 (2) of the Electoral Act” and “the Party did not maintain fixed assets register both at the Headquarters and Zonal offices.”

The Commission’s auditors, therefore, asked the ruling party to establish and maintain necessary records and accounts of its financial transaction in the states and zonal chapters so as to have a global view of the affairs of the party. The ANPP was indicted for the same offences as PDP. Additionally, the Nigerian opposition party was discovered not to have maintained membership register even as it had no prepared budget for the year under review. The report urged the party to “improve on the filing system by computerising its account functions for future transaction.” It also admonished the party to maintain an effective internal control system and comprehensive fixed assets register and that membership register should be introduced. The CPC, according to the report, did not have budget and budgetary control throughout 2011, amongst other improper accounting procedures. Accordingly, the Commission’s auditors asked the party to “endeavour to write up all the relevant books of accounts from where its financial statements could be extracted for analysis and proper evaluation and monitoring.” It also asked CPC leadership to open a membership register and endeavour to install a more effective internal control measure in compliance with the political parties finance manual handbook. The auditors rebuked APGA, for not maintaining a membership register at its headquarters. The party was also scolded for not having internally prepared and approved audited financial statement for the year under review. The party was then asked to install “an effective internal control system for checks and balancing and endeavour to maintain a comprehensive membership register and remittances of all deductions to the necessary agencies.”

[b]Their finances
Expectedly, the ruling party at the federal level, PDP, lived up to its billing as the biggest party in the country as, according to the report, it expended a whopping N4.35 billion in 2011 for its activities even though it generated N647.41 million. The PDP controls the government at the centre and 23 state governments, has about 75 senators and over 200 members in the House of representatives. ANPP came a distant second to PDP with an expenditure of N893.40 million and an income of N786.59 million.
ACN and CPC, according to the report, followed with the expenditure of N464.69 million and N363.58 million respectively though they generated N670.24 million and N304.87 million, respectively. APGA raked in N23.75 million but spent a total of N280.10 million in the year under review while the Labour Party, LP, generated an income of N129.25 million and expended N132.87 million.
Interestingly, the report says two parties, Accord and United Democratic Party, UDP, did not generate any income in 2011.
Although, it claimed not to have derived any income, the UDP said it spent N4.4 million for its activities. The Acton Party of Nigeria, APN; and Better Nigeria Progressive Party, BNPP; did not submit their accounts to INEC for auditing.Altogether, the parties audited raised a total income of N4.75 billion but expended N8.95 billion in the election year, 2011.[/b]

Read the rest here:
http://premiumtimesng.com/news/126923-pdp-cpc-anpp-others-violate-financial-regulations-ignore-rules-inec.html

While some zombies think ACN is the most radical party, forgetting its all politics. There is more to what goes on behind behind the curtains than u spoon free urselves on social network. For me, as at this morning, ACN is still the only hopeful part for Nigeria and the APC coalition will succeed by the grace of the forefathers of this great country.

Baba_Eleko: While some zombies think ACN is the most radical party, forgetting its all politics. There is more to what goes on behind behind the curtains than u spoon free urselves on social network. For me, as at this morning, ACN is still the only hopeful part for Nigeria and the APC coalition will succeed by the grace of the forefathers of this great country.

Too many mumus running around. Show them the truth and even prove it with facts yet they will run around ranting like animals. The ACN, in real terms, and purely from a political perspective, is far ahead of other Nigerian political Parties. Me and you know our people are the most biased and sentimental in the world to the extent they will even reject what is meritoriously best for them and deny the truth 100%. It is revelations like this that shows the so-called biggest Party in Africa to be nothing but a disorganised "come and chop" conglomerate.

Another instructive exposé for Nigerians: ACN most organized, most financially disciplined with every provision required by law in place and having an income twice its expenditure. This is common sense determining who should be allowed to bring new ideas to lead Nigeria. The PDP is a failure! APGA of the iboz is not only contravening the requirements of the law and disorganized but spending about 10 times its income. It is simple arithmetic, but watch insane tribalistic Nigerians come to defend nonsense only because of tribal allegiances!

CyberG: Another instructive exposé for Nigerians: ACN most organized, most financially disciplined with every provision required by law in place and having an income twice its expenditure. This is common sense determining who should be allowed to bring new ideas to lead Nigeria. The PDP is a failure! [size=19pt]APGA of the iboz is not only contravening the requirements of the law and disorganized but spending about 10 times its income.[/size] It is simple arithmetic, but watch insane tribalistic Nigerians come to defend nonsense only because of tribal allegiances!

You are not making any sense. You yap like a real time f00l.



[size=19pt]Lagos, Kaduna, C’River, Ogun, Oyo Top Foreign Debtor's List[/size]


According to states and Federal Government’s external debt stock obtained by Saturday PUNCH from the Debt Management Office, Borno, Delta, Plateau, Taraba and Anambra states had the lowest external debts.
Lagos topped the list of external debtors with $517,677,672 as of June 30, 2012.
The foreign debt increased by 5.25 per cent from $491,847.295 in December, 2011.
However, while other four states depend on federal allocations, Lagos generates a huge internal revenue, which was about N23bn monthly in the first quarter of the year.
Next to Lagos is Kaduna with $197,155.525 foreign debt as against $182,261,250 in December 2011.
Cross River has $109,351,503 external debt. As of December, the state’s external debt was $107,532,721.
Ogun State is the fourth most indebted state with $96,285.547 as of June 30, 2012. Its external debt increased by 1.8 per cent from $94,575,129.
Oyo’s external debt (the fifth) was $78,878,401 as of June 30, 2012, as against $78,085,379 in December 2011.
SATURDAY PUNCH investigations showed that the present administrations in Ogun and Oyo inherited the foreign debts from their predecessors.
[size=15pt]States, whose external debts are low, include Borno ($12,726,028); Delta ($15,785,110); Plateau ($20,190,627); Taraba ($20,681,527) and Anambra ($25,370,842).
At the zonal level, South-West leads the external debtors with $840,913,596, followed by the North-West, $473,305,365; South-South, $289,952,619; North-Central, $189,192,241 and North-East, $186,303, 921.
Checks at the Federal Ministry of Finance indicated that Lagos got N9.34bn as federal allocation in June; while Kaduna received N4.71bn; Ogun, N3.67bn; Cross River, N3.93bn; and Oyo, N4.40bn.
The federal allocations in June for the least indebted states were: Borno, N4.39bn; Delta, N14.22bn; Taraba, N3.64bn and Anambra, N3.80bn.[/size]

http://news.naij.com/4673.html

ACN the only party that has financial control, most organized is the only party that can take Nigeria out of the doldrum. The hater of Tinubu like Falae and Atiku should take note of this report. Falae was part of the conspiracy that sold some western states to PDP in 2003 thru Obasanjo, Atiku was too rigid in his quest to become president, he refused to compromise his position, he refused ACN merge with other party to challenge PDP in 2007, while Tinubu is smart politician that refused to be cajoled by Obasanjo's second term bid compromise with AD that swept off most AD gov off their feet except Tinubu of Lagos state in 2003, rather he forgone his ambition of becoming senator in 2007 to appease some party faithful because of his choice of Fashola as his successor.
Tell me how does Tinubu qualify for those name he was been christened by both Atiku and Falae.
Most of us complained of the way he has his hands in finances of the state, where on earth will he have gotten fund to wrestle out those states from the clutches of PDP, it is on record that ACN controlled states out perfom PDP controlled states.
Am not a card carrying member of any party, but let us support merger of opposition party so that we can taste a different flavour of governance, this Jona administration that lack moral in the quest for second term is a complete embrasament.

globatop: ACN the only party that has financial control, most organized is the only party that can take Nigeria out of the doldrum. The hater of Tinubu like Falae and Atiku should take note of this report. Falae was part of the conspiracy that sold some western states to PDP in 2003 thru Obasanjo, Atiku was too rigid in his quest to become president, he refused to compromise his position, he refused ACN merge with other party to challenge PDP in 2007, while Tinubu is smart politician that refused to be cajoled by Obasanjo's second term bid compromise with AD that swept off most AD gov off their feet except Tinubu of Lagos state in 2003, rather he forgone his ambition of becoming senator in 2007 to appease some party faithful because of his choice of Fashola as his successor.
Tell me how does Tinubu qualify for those name he was been christened by both Atiku and Falae.
Most of us complained of the way he has his hands in finances of the state, where on earth will he have gotten fund to wrestle out those states from the clutches of PDP, it is on record that ACN controlled states out perfom PDP controlled states.
Am not a card carrying member of any party, but let us support merger of opposition party so that we can taste a different flavour of governance, this Jona administration that lack moral in the quest for second term is a complete embrasament.

This is 100% the truth that egocentricity, sentiments and bias will never allow many on this forum to admit. Only those who don't work with facts and the 'science' of things will be surprised by this announcement. Regardless of the envious lies and half-truths, mainly told by those from outside the SW on this forum, it is obvious the ACN is gradually getting it right cohesively and in a planned, holistic order.

Unlike the PDP that can only ever be haphazard because it is, as an American public official stated, a congregation of stakeholders gathered to "share the Nigerian cake".

When the PDP does not even care for running its own account with seriousness, how are they handling the income of Nigeria? Your guess is as good as mine. I wonder why PDP fans never showed up here to come and celebrate this revealtion of "fresh air" and "transformation"

Repeat Post. Error.

Wrong Thread. Error.

Gbawe:
the envious lies and half-truths, mainly told by those from outside the SW on this forum

I would never have expected this from someone of your usually very high standards and decent quality of thinking.

, it is obvious the ACN is gradually getting it right cohesively and in a planned, holistic order.

Unlike the PDP that can only ever be haphazard because it is, as an American public official stated, a congregation of stakeholders gathered to "share the Nigerian cake".

Really?

Can you say with your hand to your chest and with a straight face that the ACN has Internal democracy?

Can you say with your hand to your chest and with a straight face that the ACN has financial probity?

With exacting honesty, I wish you to ask yourself if it is true or false, that there is nobody within the ACN who has built and is still building a vast financial empire for himself, from public funds?

With exacting honesty again, I wish you to ask yourself if it is true or false, that there is nobody within the ACN, who no member or organ of the party can dare question on any matter whatsoever?

I am sure you are intelligent and discerning enough, nuanced enough, to understand particularly the last two questions above in the light that they are intended, and with reference to the person that they are addressed to within the ACN.

As I have said before, I much prefer the principles and directions of the ACN to those of the PDP. I did not vote for Jonathan, and I regard him as a business as usual president. It would however amount to playing the ostrich, for me, or yourself for that matter, to claim that we do not see the extreme dictatorship evident within the ACN, the personal empire-building of its leader, and the absolute lack of any form of internal democracy whatsoever.

If you would say such, then it can only be concluded that you are every bit as fanatical and fundamentalist concerning the ACN as the Goodluck crowd are about him and his ambitions.

The PDP is like an over-crowded house with so many strange bedfellows, that each member simply resorts to seeking his own interests however dubiously he can. You are thus right that it is haphazard. The ACN, is the reverse: it is a well governed house with everyone in line because it is firmly and completely under the control of one absolute maximum ruler - and this, you surely cannot deny.

Deep Sight:

I would never have expected this from someone of your usually very high standards and decent quality of thinking.



Really?

Can you say with your hand to your chest and with a straight face that the ACN has Internal democracy?

Can you say with your hand to your chest and with a straight face that the ACN has financial probity?

With exacting honesty, I wish you to ask yourself if it is true or false, that there is nobody within the ACN who has built and is still building a vast financial empire for himself, from public funds?

With exacting honesty again, I wish you to ask yourself if it is true or false, that there is nobody within the ACN, who no member or organ of the party can dare question on any matter whatsoever?

I am sure you are intelligent and discerning enough, nuanced enough, to understand particularly the last two questions above in the light that they are intended, and with reference to the person that they are addressed to within the ACN.

As I have said before, I much prefer the principles and directions of the ACN to those of the PDP. I did not vote for Jonathan, and I regard him as a business as usual president. It would however amount to playing the ostrich, for me, or yourself for that matter, to claim that we do not see the extreme dictatorship evident within the ACN, the personal empire-building of its leader, and the absolute lack of any form of internal democracy whatsoever.

If you would say such, then it can only be concluded that you are every bit as fanatical and fundamentalist concerning the ACN as the Goodluck crowd are about him and his ambitions.

The PDP is like an over-crowded house with so many strange bedfellows, that each member simply resorts to seeking his own interests however dubiously he can. You are thus right that it is haphazard. The ACN, is the reverse: it is a well governed house with everyone in line because it is firmly and completely under the control of one absolute maximum ruler - and this, you surely cannot deny.

Wat a balanced synopsis!

But be dat as it may,pound 4 pound,we cant compare d quality of personalities btw ACN n PDP n wat dey churn out in terms of governance n dividends of democracy

D vison n clarity of thought process dat goes in2 d management of ACN by Asiwaju n other leaders is well above d pedestrian nay infantile nuances n mannerisms of d PDP

Wyl ACN av attempted to deliver on electoral promises made even tho we expect mor frm dem,dis oda umbrella wielding crowd are just so shoeless,clueless,colourless!

REHOZIBAH:

Wat a balanced synopsis!

But be dat as it may,pound 4 pound,we cant compare d quality of personalities btw ACN n PDP n wat dey churn out in terms of governance n dividends of democracy

D vison n clarity of thought process dat goes in2 d management of ACN by Asiwaju n other leaders is well above d pedestrian nay infantile nuances n mannerisms of d PDP

Wyl ACN av attempted to deliver on electoral promises made even tho we expect mor frm dem,dis oda umbrella wielding crowd are just so shoeless,clueless,colourless!

Yep.

Ah. I see hard questions are simply ignored. Telling. Very telling.

Those who live in glass houses, as the saying goes, should not throw stones.