Governorship Aspirants Spent Up To ₦30bn On Primaries, Says EFCC Chairman

The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has revealed that some governorship aspirants in Nigeria spent between ₦20 billion and ₦30 billion during party primary elections, warning that the trend poses a serious threat to democratic governance and accountability.

Olukoyede made the disclosure on Wednesday while delivering the inaugural High-Level Guest Speakers Series organised by the Centre for Peace and Strategic Studies (CPSS), University of Ilorin.

Speaking on the theme, "De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria," the anti-graft chief expressed concern over the growing monetisation of politics and its damaging consequences for governance.

According to him, politicians who invest enormous sums to secure electoral victories often feel compelled to recover those expenditures after assuming office, creating fertile ground for corruption and abuse of public resources.

"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 stressed that the EFCC remains committed to combating vote-buying and other forms of electoral corruption capable of undermining public confidence in the democratic process.

He disclosed that the commission had already arrested and prosecuted numerous individuals across the country for vote-buying and related electoral offences, including politicians, electoral officials and ordinary citizens.

The EFCC chairman warned that allowing electoral offences to go unpunished could erode democratic institutions and threaten national stability.

He also announced plans by the commission to deploy modern technology, including drones and advanced monitoring systems, to strengthen election surveillance ahead of the 2027 general elections.

According to him, the use of technology will help track vote-buying activities and other illegal financial transactions around polling units.

Olukoyede urged political parties and candidates to focus on issue-based campaigns rather than divisive rhetoric capable of inciting violence.

He further called on stakeholders, including INEC, security agencies, civil society organisations, political parties and the media, to work together to ensure that future elections are peaceful, transparent and credible.

Earlier, Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), described electoral corruption as a major threat to democratic development, while the Director of CPSS, Professor G.A. Animasawun, said the lecture series was designed to generate practical solutions for safeguarding Nigeria's electoral process ahead of the 2027 elections.