In a bid to shore up its financial base ahead of the rescheduled 2015 general elections, the All Progressives Congress, APC has concluded plans to raise N10 billion from the general public through direct contribution and an additional N40 billion in donations and contributions from the party’s elected members, including state governors.
According to a Vanguard report quoting a source close to the hierarchy of the APC, the party has been faced with financial challenges lately due to the postponement of the elections and the reluctance of the banks handling its scratch cards to remit proceeds.
According to the source, the pact the party had with the banks was that 15% each would go to the GSM operators, the Buhari Support Organisation, and the company that initiated the idea, while the remaining 55% is for the APC Presidential Campaign Organisation.
Continuing, the source confided that the APC hierarchy, at a meeting in Abuja, decided that another source of funding should be exploited, taking advantage of the postponement, by raising N10b from the general public.
According to the source, the party intends to use the method of distributing between five and ten thousand padlocked boxes (suitcases) across the wards and LGAs nation-wide.