The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has warned that growing impunity in Nigeria’s electoral process could threaten democracy and national stability.
Olukoyede gave the warning on Wednesday in Ilorin, Kwara State, during the inaugural high-level guest speakers’ series organised by the Centre for Peace and Strategic Studies, University of Ilorin.
Speaking on the theme, “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” the EFCC chairman disclosed that some governorship aspirants spend between N20 billion and N30 billion to secure electoral victory.
He expressed concern that the huge financial demands of elections often push elected officials into diverting public resources after assuming office in an attempt to recover the money spent during campaigns.
According to him, the commercialisation of politics weakens democratic institutions by compromising the process of selecting leaders.
“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 said the EFCC had intensified efforts against vote-buying and other financial offences capable of undermining the credibility of elections, adding that the commission had arrested several suspects nationwide, with some already convicted.
He noted that those prosecuted include politicians, electoral officers and other individuals involved in electoral misconduct.
The EFCC boss stressed that there should be no sacred cows in enforcing electoral laws, warning that failure to address impunity could have serious consequences for Nigeria’s democracy.
He also revealed that the commission would deploy drones and other technology-driven tools ahead of the 2027 general elections to monitor polling units and track cases of vote-buying and financial inducement.
Olukoyede urged political parties and their supporters to focus on issue-based campaigns and avoid statements capable of promoting violence.
He called on stakeholders, including the Independent National Electoral Commission (INEC), security agencies, civil society organisations, the media and political actors, to work together towards ensuring peaceful and credible elections.
Earlier, the Vice-Chancellor of the University of Ilorin, Prof. Wahab Egbewole (SAN), described electoral corruption as a major threat to national security and democratic growth.
Egbewole said credible elections were essential for political stability, economic development and public trust in governance, urging stronger cooperation between academic institutions and agencies responsible for protecting electoral integrity.
The Director of the Centre for Peace and Strategic Studies, Prof. G.A. Animasawun, said the lecture series was designed to encourage early discussions on challenges facing Nigeria’s electoral system ahead of the 2027 polls.
He added that the initiative would bring together policymakers, security experts, electoral officials, civil society groups and academics to develop practical strategies for peaceful and credible elections.