EFCC Chief Reports Governorship Hopefuls Spent N20bn–N30bn on 2027 Primaries

Economic and Financial Crimes Commission Chairman Ola Olukoyede has disclosed that certain governorship aspirants allocated between N20 billion and N30 billion to secure electoral victories during primary contests. Olukoyede made the revelation on Wednesday in Ilorin, Kwara State, where he delivered a keynote address at an event organised by the Centre for Peace and Strategic Studies at the University of Ilorin.

The EFCC chief framed the escalating financial outlays in electoral processes as a destabilising force for Nigerian democracy. He cautioned that when candidates invest such enormous sums to secure office, the pressure to recover those expenses through misappropriation of public funds becomes acute once they assume power.

This dynamic, he suggested, creates conditions that enable electoral corruption to flourish. Olukoyede stressed the EFCC's opposition to the commercialisation of votes, describing vote buying as fundamentally incompatible with credible governance.

He urged political leaders and stakeholders to resist the practice ahead of the 2027 general elections, emphasising that monetising the electoral process weakens the institutional foundations of democratic administration. The EFCC chairman's remarks were part of a broader discussion on mobilising stakeholders toward ensuring transparent and credible elections in Nigeria.

He noted that the significant financial resources deployed during electoral cycles frequently compel elected officials to divert public funds after taking office, establishing a cycle in which initial campaign expenditures drive subsequent mismanagement of state resources.