By Kolawole Omotola Olaide
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has expressed concern over the increasing influence of money in Nigeria’s electoral process, revealing that some governorship aspirants spend as much as N20 billion to N30 billion in their quest to secure political office.
Olukoyede made the disclosure on Wednesday while delivering a lecture at the University of Ilorin in Kwara State. The event, organized by the Centre for Peace and Strategic Studies, focused on preparations and challenges ahead of the 2027 general elections.
According to the EFCC chairman, the escalating cost of political campaigns and party primaries poses a significant threat to democratic governance. He warned that candidates who invest huge sums to gain political power may be tempted to divert public resources after assuming office in an effort to recover their expenses.
He noted that the growing commercialization of politics undermines the integrity of the electoral process and weakens the quality of leadership recruitment in the country.
Olukoyede stated that politicians who rely on financial inducements to secure electoral victories are often more concerned about recouping their investments than delivering good governance and serving the interests of the people.
The anti-graft agency boss reiterated the EFCC’s commitment to combating vote-buying and other forms of electoral corruption. He disclosed that the commission has arrested several individuals linked to election-related financial crimes, including politicians, electoral officials, and other offenders who violated electoral regulations.
He stressed that the fight against electoral corruption must be pursued without favoritism, warning that failure to hold offenders accountable could jeopardize Nigeria’s democratic future.
To strengthen monitoring efforts ahead of the 2027 elections, Olukoyede revealed that the EFCC plans to deploy advanced technological tools, including drones, to detect vote-buying and suspicious financial transactions around polling centers.
The EFCC chairman also urged political parties and their supporters to focus on issue-based campaigns rather than inflammatory rhetoric capable of inciting violence before, during, and after elections.
He called on the Independent National Electoral Commission (INEC), security agencies, civil society organizations, the media, and other stakeholders to work collectively toward ensuring peaceful, transparent, and credible elections in 2027.
In his remarks, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), described electoral corruption as one of the major challenges confronting Nigeria’s democracy. He emphasized that credible elections remain essential for national stability, economic development, and public confidence in government institutions.
Also speaking, the Director of the Centre for Peace and Strategic Studies, Professor G.A. Animasawun, explained that the lecture series was designed to encourage early conversations on factors that could threaten the credibility of the 2027 polls.
The event attracted academics, students, security personnel, electoral officials, and representatives of civil society groups who participated in discussions on safeguarding Nigeria’s democratic process.
