The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concern over the rising cost of securing political office in Nigeria, revealing that some governorship aspirants reportedly spend between N20 billion and N30 billion to win party primaries.
Olukoyede warned that the trend posed a serious threat to democratic governance and fuels corruption in public office, noting that excessive election spending often pushes elected officials to recover their investments through diversion of public funds.
He made the disclosure on Wednesday in Ilorin, Kwara State, while delivering a lecture at the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies (CPSS), University of Ilorin.
The lecture was themed “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria.”
According to him, the huge financial burden of elections creates pressure on politicians after assuming office, encouraging corruption and weakening accountability.
He said:“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 said the EFCC has recorded several arrests and convictions across the country involving vote-buying and related electoral offences. He added that those prosecuted include politicians, electoral officials, and ordinary citizens.
He stressed that the commission would not tolerate impunity in the electoral process, warning that no individual would be exempt from prosecution under electoral laws.
The EFCC chairman also disclosed plans to deploy drones and other technological tools to monitor elections ahead of the 2027 general polls, particularly to track vote-buying and financial inducements at polling units.
He called on political actors to focus on issue-based campaigns and avoid inflammatory rhetoric capable of triggering violence, urging collaboration among stakeholders including the Independent National Electoral Commission (INEC), security agencies, civil society organisations, and the media to ensure 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 said credible elections were essential for stability, economic growth, and public trust in governance, stressing the need for stronger institutional collaboration to safeguard electoral integrity.
In his remarks, the Director of the Centre for Peace and Strategic Studies, Professor G.A. Animasawun, said the lecture series was designed to proactively address threats to Nigeria’s electoral process ahead of the 2027 elections.
He explained that the initiative would bring together policymakers, security agencies, electoral bodies, civil society groups, and academics to develop practical solutions for peaceful and credible polls.
The event was attended by representatives of security agencies, electoral officials, civil society organisations, members of the academic community, and students.
