The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has disclosed that some governorship aspirants in Nigeria spent between N20 billion and N30 billion to secure party tickets and electoral victory. He warned that this trend poses a serious threat to democratic governance and fuels corruption in public office.
Olukoyede made this revelation in Ilorin yesterday during the inaugural Guest Speakers’ Series organized by the Centre for Peace and Strategic Studies (CPSS) at the University of Ilorin. Speaking on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” he explained that the huge financial resources deployed during elections often compel elected officials to divert public funds after assuming office to recover their investments.
“The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process,” Olukoyede said. “Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest.”
The EFCC chief emphasized the commission’s commitment to tackling vote-buying and other financial inducements that undermine the integrity of Nigeria’s electoral process. He revealed that the agency has made several arrests and secured convictions across the country for vote-buying and related electoral offences. Those prosecuted include politicians, electoral officials, and ordinary citizens found guilty of electoral misconduct.
Olukoyede warned that impunity in the electoral process could undermine democracy and national stability, stressing that there must be no sacred cows in the enforcement of electoral laws. He also disclosed plans to deploy drones and other technological tools to strengthen election monitoring ahead of the 2027 general elections, particularly in tracking vote-buying and financial inducements at polling units.
He called on political parties and their supporters to embrace issue-based campaigns and reject inflammatory rhetoric capable of inciting violence. He urged stakeholders, including the Independent National Electoral Commission (INEC), security agencies, civil society organizations, the media, and political actors, to collaborate in ensuring peaceful, free, and credible elections.
Earlier, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), described electoral corruption as a major threat to national security and democratic development. He stressed that credible elections are essential for national stability, economic growth, and public confidence in governance, calling for stronger collaboration between academic institutions and agencies responsible for safeguarding electoral integrity.
In his welcome address, the Director of the Centre for Peace and Strategic Studies, Professor Abdul-Jelil Animasawun, said the lecture series was conceived to provide a platform for proactive engagement on threats to Nigeria’s electoral process ahead of the 2027 polls. He noted that the initiative would bring together policymakers, security experts, electoral officials, civil society groups, and scholars to develop practical solutions for peaceful and credible elections.
