Ola Olukoyede, the Executive Chairman of the Economic and Financial Crimes Commission (EFCC), has raised alarm over the rising cost of elections in Nigeria. He said some governorship aspirants spent between N20 billion and N30 billion to win during the last primary elections.
Olukoyede warned that the development was a serious threat to democratic governance, adding that the huge sums spent by politicians during elections often fuel corruption in public office.
The EFCC chairman was said to have made this known on Wednesday, during the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies, University of Ilorin.
The lecture was on the theme: “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria”.
EFCC: Corruption Bred by Election Spending
Politicians’ massive financial investments in elections also exert pressure on elected officials to recoup their money after taking office, Olukoyede said.
He said the desperation to recoup campaign expenses can lead public office holders to divert public funds instead of focusing on governance and service delivery.
The situation, he said, is especially dangerous as it degrades the quality of leadership that emerges from the electoral process.
“Commercialisation of votes erodes the basis of good governance as it affects the process of political recruitment. “Leaders who buy their way into office are more likely to focus on recouping their investments than serving the public interest,” he said.
According to the EFCC boss, when the path to public office is defined by money instead of competence, integrity and public trust, the result is poor governance and weakened democratic institutions.
He said Nigeria could not build credible leadership if the country failed to tackle vote-buying, financial inducement and other electoral offences.
Olukoyede said the commission is committed to fighting vote-buying and other financial practices capable of undermining the integrity of Nigeria’s electoral system.
He stated that the EFCC had arrested some persons in different parts of the country in connection with vote-buying and other related electoral offences.
He said some of those arrested had already been convicted.
The accused, he said, were “politicians, electoral officials and ordinary citizens who were found guilty of electoral misconduct.
The EFCC boss warned that the impunity in the electoral process could pose a threat to democracy and national stability.
He stressed that the enforcement of electoral laws must be firm and fair adding that there should be no sacred cows.
Commission to use Drones for Election Monitoring
Olukoyede said the EFCC is planning to deploy drones and other technological tools to enhance election monitoring ahead of the 2027 general elections.
He said the technology would help the commission to monitor vote-buying and financial inducement, especially around polling units.
The EFCC chairman said the agency will keep improving its operational methods to keep pace with the changing tactics of politicians and their agents during elections.
He urged political parties and their supporters to campaign on issues, and not through inducement, intimidation or inflammatory statements that can provoke violence.
Olukoyede also urged key stakeholders, including the Independent National Electoral Commission, security agencies, civil society organisations, the media and political actors to work together to deliver peaceful, free and credible elections in 2027.
VC: Security Threatened by Electoral Corruption
In the same vein, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole, SAN, said electoral corruption was a serious threat to the country’s security as well as democratic development.
Egbewole said that credible elections were vital to national stability, economic growth and public confidence in governance.
He emphasized the need for increased cooperation between academic institutions and agencies responsible for maintaining the integrity of the electoral process.
He said universities have a role to play in the research, public enlightenment and policy engagement to strengthen democracy.
Director of the Centre for Peace and Strategic Studies, Professor G.A. Animasawun, in his welcome address, said the lecture series was established to provide a platform for proactive discussions on threats to Nigeria’s electoral process as the country gears up for the 2027 polls.
He said the initiative would bring together policy makers, security experts, electoral officials, civil society groups and scholars to develop practical solutions for peaceful and credible elections.
“Early engagement is important to mitigate risks to the elections and build confidence in the democratic process,” Animasawun said.
Representatives of security agencies, electoral bodies, civil society organisations, members of the academic community and students attended the event.
