EFCC Chairman Ola Olukoyede has raised the alarm over the astronomical cost of political campaigns in Nigeria, calling it a direct threat to democracy.
Speaking at the University of Ilorin’s inaugural Guest Speakers’ Series on Wednesday, Olukoyede disclosed that some governorship aspirants spend as much as ₦20 billion to ₦30 billion to secure party tickets.
According to the anti-graft chief, this level of spending creates a dangerous cycle.
“When public office holders spend billions to win, they face immediate pressure to plunder state treasuries after taking office simply to recover their initial investments.”
He said the EFCC remains committed to tackling vote-buying and other forms of financial inducement capable of undermining the integrity of Nigeria’s electoral process.
‘’The commercialisation of votes weakens the foundation of good governance because it compromises the political recruitment process,’ he noted.
‘’Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest.”
Olukoyede revealed that the anti-graft agency had made several arrests across the country over vote-buying and related electoral offences, with a number of convictions already secured.
He listed those prosecuted to include politicians, electoral officials and ordinary citizens found culpable of electoral misconduct.
He warned that impunity in the electoral process could undermine democracy and national stability, stressing that there must be no sacred cows in the enforcement of electoral laws.
He also disclosed the commission’s plan to deploy drones and other technological tools to strengthen election monitoring ahead of the 2027 general elections, particularly in tracking vote-buying and financial inducements at polling units.
Olukoyede also urged political parties and their supporters to focus on issue-based campaigns and reject inflammatory rhetoric that could incite violence.
He called for deep collaboration among key stakeholders—including the Independent National Electoral Commission (INEC), security agencies, civil society groups, the media, and political actors—to guarantee peaceful, free, and credible elections.
Earlier in the event, the Vice-Chancellor of the University of Ilorin, Professor Wahab Egbewole (SAN), characterized electoral corruption as a primary threat to both national security and democratic progress.
Egbewole described credible elections as essential for national stability, economic growth and public confidence in governance, stressing the need for stronger collaboration between academic institutions and agencies responsible for safeguarding electoral integrity.
In his address of welcome, the Director of the Centre for Peace and Strategic Studies, Prof. Abdul-Jelil Animasawun, said the lecture series was conceived to provide a platform for proactive engagement on threats to Nigeria’s electoral process ahead of the 2027 polls.
He noted that the initiative would bring together policymakers, security experts, electoral officials, civil society groups and scholars to develop practical solutions for peaceful and credible elections.