Political party finance in Nigeria has been a subject discourse among scholars, politicians and civil society organisations in recent time. This is not only because of the currency of the concept, but as a result of the important roles it plays in democratic process across different political settings. The roles of money in the viability of political parties, advancement of democracy and democratization to a large extent, are unconnected to political party finance regulations and the enforceability of the laws. However, the realization of the major essence of party finance regulations has not been adequately achieved as moneybags politicians appear to have hijacked the process of democracy owing to associated acts of impunity and their financial control of political parties in Nigeria. This study examines the existing state and method of political party financing in Nigeria and assesses the political party financing regulations by Independent National Electoral Commission (INEC) in Nigeria. Secondary data were relied on in carrying out the study. The results show that the existing state and method of political party finance in Nigeria are considerably similar to the political party finance practice across different political settings. It also shows that political party finance regulations by INEC in Nigeria are ineffective as a result of weak legal framework which needed to be overhauled.

Keywords: Political Party, Political Party Finance, Democracy