The Executive Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has said that some governorship aspirants in Nigeria spent between N20 billion and N30 billion to secure electoral victory during the last primary elections, warning that the trend poses a serious threat to democratic governance and fuels corruption in public office.
While delivering the inaugural High-Level Guest Speakers’ Series organised by the Centre for Peace and Strategic Studies (CPSS), University of Ilorin, on Wednesday, the EFCC boss said that huge financial resources deployed during elections often compel elected officials to divert public funds after assuming office in a bid to recover their investments.
He spoke on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria”.
According to him, the huge financial outlay required to win elections often creates pressure on public office holders to divert public funds after assuming office, citing an example of what it requires to win a governorship election.
Olukoyede noted the EFCC remains committed to tackling vote-buying and other forms of financial inducement capable of undermining the integrity of Nigeria’s electoral process.
