INEC's Role in Enabling Nigeria's Corruption Crisis
The Independent National Electoral Commission (INEC) is enabling Nigeria's systemic corruption by failing to regulate political finance. Despite a ₦240 billion budget in 2018, INEC's costs have ballooned to ₦873 billion (260% increase) by 2026 due to inefficiency and lack of modernization. This regulatory failure allows illicit funds looted from public treasuries to enter elections, fueling prebendalism where offices become spoils for political clients. INEC's refusal to enforce spending limits (₦5 billion for presidential candidates) and publish audited party finances violates the Electoral Act 2022, ensuring only wealthy candidates backed by godfathers can compete. This creates a cycle where public funds are used for vote-buying and contract inflation, with security votes spiking during elections. Without real-time financial transparency and strict enforcement, elections remain money-laundering machines for the elite, undermining governance.