EFCC Reveals Some Governorship Aspirants Spend Up to N30bn to Win Elections, Warns of Rising Electoral Corruption
The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has expressed concern over the massive financial resources allegedly deployed by politicians to secure electoral victories, revealing that some governorship aspirants spend as much as N20 billion to N30 billion during election campaigns and related activities.
Olukoyede made the revelation on Wednesday while delivering a lecture at the University of Ilorin in Kwara State. PulseNets learnt that the lecture was organised by the Centre for Peace and Strategic Studies as part of engagements focused on preparations for Nigeria’s 2027 general elections.
Speaking on the growing influence of money in politics, the EFCC chairman warned that the escalating cost of electoral contests poses a significant threat to Nigeria’s democratic process. He noted that candidates who commit enormous financial resources to win elections may ultimately seek to recover those expenditures after assuming office.
According to him, the pressure associated with recouping campaign spending often fuels corruption and undermines citizens’ confidence in public institutions and governance.
“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.
Olukoyede stated that the anti-corruption agency remains committed to tackling vote-buying and all forms of financial inducement capable of influencing election outcomes across the country.
He disclosed that the commission had already arrested several suspects in connection with electoral offences linked to money politics. PulseNets obtained that those being prosecuted include politicians, electoral officials and other individuals alleged to have breached electoral regulations.
The EFCC chairman maintained that the fight against electoral corruption must be pursued without favoritism, warning that failure to hold offenders accountable could endanger the nation’s democratic stability.
He further announced plans by the commission to strengthen election surveillance ahead of the 2027 general elections through the deployment of drones and other technological tools aimed at detecting vote-buying and suspicious financial transactions around polling centres.
Olukoyede also urged political parties and their supporters to embrace issue-based campaigns and avoid inflammatory rhetoric capable of triggering violence before, during and after elections.
He called on the Independent National Electoral Commission (INEC), security agencies, civil society organisations, the media and other stakeholders to collaborate in ensuring peaceful, transparent and credible elections in 2027.
Also speaking at the event, the Vice-Chancellor of the University of Ilorin, Wahab Egbewole, described electoral corruption as one of the major challenges confronting Nigeria. He stressed that transparent and credible elections remain essential for national stability, economic development and public trust in government institutions.
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The Director of the Centre for Peace and Strategic Studies, G. A. Animasawun, explained that the lecture series was designed to stimulate early conversations on emerging threats that could undermine the credibility of the 2027 elections.
PulseNets reported that the programme attracted participants from the academic community, security agencies, electoral institutions, civil society organisations and the student population.
