In Abuja on Monday, the chairman of INEC sounded the alarm during his address to a one-day summit of stakeholders on combating the role of money in the 2023 general elections.

Yakubu, noting that voter inducement impairs their ability to make the best decisions, also highlighted that it is antagonistic to free and peaceful elections, as the same desperate politicians who finance thugs advocate violence.

He said: "We have gathered today to discuss a topic of grave concern to the majority of Nigerians. The detrimental impact of money on elections is fundamental to our democracy. It undermines the fundamental tenet of democratic elections, namely, that individuals should freely pick those who exercise power on their behalf. It makes it extremely difficult for the proper candidates to emerge for posts, hinders fair electoral adjudication, and weakens the professionalism and independence of INEC officials and other governmental institutions involved in elections. Even more concerning is the likelihood that illegal funds may enter our elections through money laundering.

"Above all, the pernicious use of money greatly raises the probability of election violence owing to a "win at any costs" mentality." "The mentality of candidates who would have spent a lot on the election. Surely, elections are not a profitable business enterprise. Rather, it is an application designed to serve the people with the idea that they may occasionally prefer someone else. After four years, though, there would be an option to reapply. "Citizens' decisions must never be undermined by the improper use of money," he bemoaned.

The Chairman of INEC outlined preventative measures taken by his commission to combat vote buying, including "a small rearrangement of our polling units to move ballot boxes closer to voting cubicles to deter voters from exposing their marked ballots to vote purchasers." In addition, we prohibited the use of smartphones and photographic devices in voting booths. Nevertheless, these approaches have had limited success.

In a similar spirit, Yusuf Yagbagi Sani, national chairman of the Inter-Party Advisory Council and presidential candidate for the Action Democratic Party, stated that the impact of money might undermine a free and fair election.

"Free, fair, and trustworthy elections are inconceivable if the use of money is unrestricted." Due to the power of money, the general elections in 2023 will be anything but free, fair, and credible if no action is taken. IPAC is confident that INEC will deliver a free, fair, and credible election; the stakes are high because desperate politicians would use money to influence and subvert the aspirations of an electorate free from the corrupting influence of money.

Chairman of the Economic and Financial Crimes Commission Abdulrasheed Bawa, who was represented by his Chief of Staff Hajia Hadiza Gamawa, warned Nigerians against being influenced by politicians with vast pockets but lacking in integrity.

"Votes must be cast based on the quality of one's character, not their financial means."

"We must alter the narrative of ineffective recruitment procedures," he continued.

Bawa also recommended political parties and candidates to be transparent regarding the origin of their campaign donations.

Professor Bolaji Awasanoye, chairman of the Independent Corrupt Practices and Other Related Offences Commission (ICPC), described vote-buying as another sort of coup d'état.

Because the process was defective, a purchased mandate is equivalent to a coup d'état. This is an instance of outcome manipulation by money inducement. Vote buying is not merely a perception; it is evident and genuine.

"Because it is not accountable to the public, a government elected by vote-buying is empowered to act with impunity." "Corruption will flourish now that his election has been assured," he said.

The Director General of the Nigeria Financial Intelligence Unit, Modibbo Tukur, praised the Central Bank of Nigeria (CBN) for its new policy, stating that the action of the apex bank has aided in removing money from the voting process and enhancing security.

We extend our congratulations to the CBN and security agencies. We are aware of candidates who have the financial means to spend; we will watch and flag them. He stated, "We do not arrest people, but we will report them."

In addition, he implied that the NSA, in conjunction with other agencies, would continue its surveillance of certain wealthy presidential contenders.

"We will watch and flag candidates who have the ability to spend large sums of money." He continued, "We do not arrest them, but we will report them."

The Inspector General of Police, Usman Alkali Baba, who was represented by the Deputy Inspector General of Operations, Alhaji Bala Ciroma, stated that the police were resolved to pursue the accused vote-buyers.

"The Nigeria Police Force, as the lead agency in electoral security management, is making concerted measures to prevent the use of money to influence the 2023 general elections, or at the very least to reduce this menace to an absolute minimum."

"This will be accomplished through collaboration with sister security agencies, anti-corruption and intelligence organisations, and other interested parties.

"Numerous arrests have been made as a result of this synergy, particularly of individuals who purchased voter registration cards in preparation for rigging elections.

Additionally, several political thugs have been apprehended and are being prosecuted in courts with proper authority. We will also deploy the police X-squad, intelligence officers, and detectives to guarantee politicians carrying huge quantities of cash for vote buying are captured and penalised according to the law.

We have also deployed intelligence officers who will be embedded in the crowd during political events in order to identify specific persons inciting or committing violence.

"Let me repeat unequivocally that the use of money during the 2023 elections is illegal, and we will do everything possible within the boundaries of the law to bring those responsible to justice. Consequently, all hands are on deck and all relevant security agencies are cooperating on this matter "The IGP was adamant.