My Krossroads

The recent fund raiser organised by the Director General of the Nigerian stock exchange Prof. Ndi Nkereke for presidential hopeful Barak Obama, attracted the “cream de la cream” of the Nigerian society, but the aftermath of the much publicized event was an ugly painting left on the sidewalk. The dinner saw individuals paying as much as 25 million for a platinum table and corporate bodies paying as much as 325 for the same table, about $800,000 was raised, at the end of the day.
 
Then the bombshell, one of Nigerian’s eloquent lawyer and activist wrote a letter to the Economic and Financial Crimes Commission – EFFCC describing the event as a sham. With the questions raised by Festus Kayamu, Nigerians began to express their dismay at such blatant display of ignorance of the American electoral system. The Director General was subsequently arrested by the EFFCC and questioned.
Nigerians began to react with many describing the fund raiser as an obvious fraudulent act. The Director General  received fire from several respectable Nigerians, all accusing her of inordinately using her privileged position to pursue what they described as a foolhardy endeavour. She has remained silent on the issue, refusing to comment.

But, very many questions have been left unanswered, could highly placed Nigerians have been so totally oblivious to the American electoral system? What about the Director General who schooled and worked in America?  Nevertheless, the big question is what has become of the money raised at the event? And was the Director General wrongly advised? Then, a group called Africans for Obama 2008 put out a number of publications in Nigerian Newspapers disassociating themselves from the fund raising event, saying that at no time did it solicit for funds for the Obama campaign.
 
Again, Nigerians are left to ponder about an inglorious fund raiser, the big question is, what role has the government played to ensure that activities of this nature do not become a common occurrence? How has the Government chastised the organisers of the event? 

While, Nigerians await with bated breath on answers to these many questions a former American diplomat to Nigeria, Ambassador Walter Carrington, was recently in the country to educate Nigerians on the American electoral system. At the lecture he answered the pertinent question of how Political Parties are funded and supported.  He stated that all donations to Federal candidates or political committees must either be from individuals or committees registered with the FEC (Federal Electoral Commission). Direct contributions from corporations or labour unions are prohibited, although these entities may sponsor political parties that raise money from individuals. Contributions in cash of more than $100 to political parties illegal, as are contributions from individuals who are deemed “foreign nationals,” i.e., non citizens who have not been admitted permanently to the United States, However foreign citizens who are admitted for permanent residence may contribute even though they cannot vote in an election.
The amount that an individual or political committee may contribute is subject to various limits. For example, an individual may not contribute more than $2,300 to any candidate’s campaign.