The Executive Chairman of the Economic and Financial Crimes Commission, Ola Olukoyede, on Wednesday in Ilorin, Kwara State, said some governorship aspirants in Nigeria spend between N20bn and N30bn to secure electoral victory.
He warned that the trend poses a serious threat to democratic governance and fuels corruption in public office.
Delivering the inaugural high-level guest speakers’ series organised by the Centre for Peace and Strategic Studies, University of Ilorin, on the theme “De-risking and Mobilising Critical Stakeholders for Peaceful and Credible 2027 Elections in Nigeria,” the EFCC boss said the 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 said the high cost of elections placed pressure on public officeholders to mismanage state resources after the election, citing the level of spending required to win a governorship election.
He said the EFCC remained
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