Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has revealed that certain governorship aspirants in Nigeria spent between N20 billion and N30 billion just to win their recent primary elections.
He warned that this growing trend severely threatens democratic governance and drives corruption across public office.
Delivering the inaugural High-Level Guest Speakers’ Series organized by the Centre for Peace and Strategic Studies (CPSS) at the University of Ilorin on Wednesday, the EFCC boss explained that the massive financial investments made during campaigns heavily pressure elected officials to divert public funds once in power so they can recoup their spending.
He spoke on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria”.
According to him, the huge financial outlay required to win elections often creates pressure on public office holders to divert public funds after assuming office, citing an example of what it requires to win a governorship election.
Olukoyede emphasized that the EFCC stays dedicated to fighting vote-buying and all financial inducements that compromise the integrity of Nigeria’s elections.
Trending Now:
“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.
He noted that the anti-graft agency has arrested numerous individuals nationwide for vote-buying and other election-related offenses, securing several convictions along the way.
Those prosecuted span across politicians, electoral officers, and regular citizens caught engaging in electoral misconduct.
The EFCC chairman cautioned that allowing impunity to thrive within the electoral system could damage both democracy and national stability, insisting that no one should be treated as a sacred cow when it comes to enforcing electoral laws.
He also shared that the commission intends to deploy drones and alternative technological tools to boost election monitoring for the 2027 general elections, specifically to track vote-buying and financial manipulation directly at polling units.
Olukoyede appealed to political parties and their followers to focus on issue-based campaigns and completely reject toxic rhetoric that might trigger violence.
He urged all key stakeholders—including the Independent National Electoral Commission (INEC), security agencies, civil society groups, the media, and political figures—to collaborate closely to guarantee peaceful, free, and fair elections.
