INEC warns against dangers of monetization of Nigerian politics


Nigeria’s electoral regulatory body, INEC, has warned that the influence of money in politics is becoming more present, and the risk is that Nigeria may soon become a plutocracy for the rich rather than a democracy for the people.

INEC chief Prof. Mahmood Yakubu disclosed this at a one-day colloquium on “Emerging Issues that will Shape the 2023 General Elections in Nigeria” organized by the Centre for Democracy and Development (CDD) on Wednesday in Abuja.

He also disclosed that INEC is collaborating with EFCC to check financial incentives in Nigeria’s electoral process.

What INEC Chief is saying

Prof Yakubu stated that there were three critical challenges to be overcome in the conduct of the 2023 election, namely: Insecurity, fake news, and money politics.

  • “My third area of concern is the influence of money on politics, and is becoming more present, and the risk is that ours may soon become a plutocracy for the rich rather than a democracy for the people. 
  • The way money is exchanging hands is a source of concern, yes, we have collaboration with ICPC and the EFCC and only recently we renewed our collaboration with the EFCC, saying that we are going to do something together. 
  • However, there are two dimensions to it; when you have willing connectors, it becomes a bit more difficult to contain the situation. 
  • “On the one hand, you have brilliant examples; we all saw this on the social media in Anambra when there was an attempt to bribe voters, and the women refused to accept the money and voted their conscience,” he stated.

He added that the antidote to fake news is more real news and greater openness and transparency.

Source; nairametrics.