RismadarVoice Reporters, June 11, 2026
The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the escalating cost of elections in Nigeria, revealing that some governorship aspirants spend between ₦20 billion and ₦30 billion to secure party tickets and win elections.
Olukoyede disclosed 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, University of Ilorin.
The lecture, themed “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” focused on the financial and institutional risks threatening the integrity of Nigeria’s electoral process.
According to the EFCC boss, the huge sums spent during election cycles place significant pressure on successful candidates, often influencing their conduct once in office.
He warned that the commercialisation of elections undermines democratic governance and encourages corruption, as officeholders may attempt to recover funds expended during campaigns through misuse of public resources.
“The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process,” he said.
Olukoyede further noted that politicians who spend heavily to secure electoral victory are more likely to prioritise personal financial recovery over public service delivery.
He stressed that the EFCC remains committed to addressing vote-buying and other forms of electoral financial inducement that threaten Nigeria’s democratic process.
According to him, the commission has made several arrests across the country in connection with vote-buying and electoral fraud, with multiple convictions already secured against offenders, including politicians and electoral officials.
He also warned that electoral malpractice poses a serious threat to national stability and democratic consolidation, insisting that no individual or group would be exempt from enforcement actions.
Looking ahead to the 2027 general elections, Olukoyede disclosed that the EFCC plans to deploy advanced surveillance technologies, including drones, to monitor electoral activities and detect instances of vote-buying in real time.
He called on political parties to promote issue-based campaigns and avoid inflammatory rhetoric capable of inciting violence during elections.
The EFCC chairman also urged collaboration among key stakeholders, including the Independent National Electoral Commission (INEC), security agencies, civil society organisations, the media, and political actors, to ensure credible and peaceful elections.
Earlier in the event, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), described electoral corruption as a major threat to democracy, national security, and economic development.
He emphasised the importance of credible elections in fostering public trust and ensuring political stability.
Also speaking, the Director of the Centre for Peace and Strategic Studies, Professor G.A. Animasawun, said the lecture series was designed to strengthen dialogue and provide solutions to challenges affecting Nigeria’s electoral system ahead of the 2027 polls.
The event brought together representatives of security agencies, electoral bodies, civil society organisations, academics, and students.
