Isaac Samuel
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that governorship aspirants in Nigeria spent between N20 billion and N30 billion to secure victory in party primary elections.
Olukoyede raised the concern on Wednesday in Ilorin while delivering a lecture at the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies, University of Ilorin, themed “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria.”
He warned that the rising cost of political competition is distorting democratic governance and encouraging corruption in public office.
According to him, the enormous financial outlay required to win elections often places pressure on successful candidates to divert public funds in a bid to recover campaign expenses after assuming office.
“The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process. Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest,” he said.
Olukoyede said the EFCC has intensified efforts to curb vote-buying and electoral financial inducement, adding that several arrests have been made across the country, with convictions already secured in some cases.
He explained that those prosecuted include politicians, electoral officials and individuals involved in electoral misconduct, stressing that no one would be shielded from prosecution.
The EFCC chairman also warned that unchecked electoral corruption could undermine democracy and national stability, insisting that enforcement of electoral laws must be strict and impartial.
He revealed that the commission plans to deploy drones and other technology-driven tools to monitor elections ahead of the 2027 general polls, particularly to track vote-buying at polling units.
Olukoyede urged political parties and candidates to focus on issue-based campaigns and avoid inflammatory rhetoric capable of triggering violence.
He also called for collaboration among stakeholders, including the Independent National Electoral Commission (Independent National Electoral Commission), security agencies, civil society organisations, the media and political actors, to ensure credible and peaceful elections.
Earlier, the Vice-Chancellor of the University of Ilorin, Wahab Egbewole (SAN), said electoral corruption remains a major threat to national security and democratic development.
He stressed the need for stronger collaboration between academic institutions and electoral institutions to safeguard the integrity of Nigeria’s elections.
Also speaking, the Director of the Centre for Peace and Strategic Studies, G.A. Animasawun, said the lecture series was designed to strengthen dialogue on electoral threats ahead of the 2027 polls.
