EFCC Chairman Warns Against Exorbitant Election Spending Ahead of 2027 Polls

The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has warned that the staggering cost of running for office in Nigeria poses a fundamental threat to democratic governance and drives systemic corruption. Speaking on Wednesday in Ilorin, Kwara State, Olukoyede revealed that some governorship aspirants spend between ₦20 billion and ₦30 billion to secure primary and electoral victories.

Delivering an address at the University of Ilorin’s Centre for Peace and Strategic Studies, the anti-graft boss explained that these massive financial outlays place immense pressure on elected officials. Once in power, many feel compelled to divert public funds simply to recover their initial political investments.

“The commercialization of votes weakens the foundation of good governance because it compromises the political recruitment process,” Olukoyede stated. “Leaders who buy their way into office are more likely to focus on recovering their investments rather than serving the public interest.”

To combat this, the EFCC chairman announced that the commission plans to deploy advanced technological tools, including surveillance drones, to monitor polling units and track illegal financial inducements during the upcoming 2027 general elections. He emphasized that the agency has already secured multiple convictions against politicians, electoral officers, and citizens involved in vote-buying, reinforcing that there will be “no sacred cows” in enforcing electoral laws.

Supporting this stance, the Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole (SAN), described electoral corruption as a major national security threat. He emphasized that credible elections are vital for economic growth and public trust, calling for tighter collaboration between academic institutions and enforcement agencies to safeguard Nigeria’s democratic process.