The Economic and Financial Crimes Commission (EFCC) has disclosed that governorship aspirants across the country spent more than N20 billion during election campaigns and related political activities, raising fresh concerns about the growing influence of money in Nigeria’s electoral process.
Chairman of the EFCC, Ola Olukoyede, made the revelation while speaking on efforts to curb corruption and promote transparency in the nation’s political system.
According to him, the huge amount spent by aspirants highlights the urgent need for stricter enforcement of campaign finance regulations and greater accountability in electoral spending.
Olukoyede noted that excessive spending during elections often fuels corruption, as elected officials may seek to recover campaign expenses once in office. He stressed that the anti-graft agency remains committed to monitoring financial activities linked to elections and prosecuting violations of relevant laws.
The EFCC chairman also expressed concern over the role of illicit funds in politics, warning that the practice undermines democratic principles and creates an uneven playing field for candidates.
He called on political parties, candidates and stakeholders to adhere to established electoral guidelines and support efforts aimed at ensuring free, fair and transparent elections.
The disclosure comes amid ongoing debates about campaign financing, vote-buying and the need for reforms to strengthen Nigeria’s democratic institutions ahead of future elections.
Analysts say the development underscores the challenge of reducing the cost of politics and promoting accountability in the country’s electoral system.
