The Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, has raised concerns over the huge amount of money allegedly being spent by politicians to secure electoral victories, revealing that some governorship aspirants spend between N20 billion and N30 billion during the election process.
Olukoyede made the disclosure on Wednesday while delivering a lecture at the University of Ilorin, Kwara State. The event was organised by the Centre for Peace and Strategic Studies as part of discussions on preparations for the 2027 general elections.
According to the EFCC boss, the rising cost of politics has become a serious danger to Nigeria’s democracy. He warned that when candidates invest enormous sums to get into office, they may be tempted to misuse public funds after winning elections.
He explained that the pressure to recover campaign expenses often creates an environment where corruption thrives, adding that the trend weakens public trust in governance.
“The commercialisation
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