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 their party’s ticket.
Delivering the inaugural high-level guest speakers’ series organised by the Centre for Peace and Strategic Studies, University of Ilorin, he warned that that the practice poses grave threat to democratic governance and fuels corruption in public office.
Olukoyede, who spoke on the theme “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” reasoned that the huge financial resources deployed during elections often compel elected officials to loot public funds after assuming office in a bid to recoup their investments.
He said the high cost of elections placed pressure on public officeholders to mismanage state resources post election, citing the level of spending required to win a governorship election.
The anti-graft tzar reiterated the commitment of EFCC to tackling vote-buying and other forms of financial inducement capable of undermining the integrity of Nigeria’s electoral process.
According to him, “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.”
Olukoyede revealed that the anti-graft agency had made several arrests across the country over vote-buying and related electoral offences, with several convictions already secured.
He noted that those prosecuted include politicians, electoral officials and other individuals found culpable of electoral misconduct.
The EFCC boss revealed that the commission 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.
