Veteran journalist and former presidential aspirant Dele Momodu has revealed that a former presidential candidate allegedly spent $23.2 million to secure delegate votes during the 2023 primaries.

Speaking on the Key to Keys podcast, Momodu disclosed that each of Nigeria’s 774 delegates received $30,000, exposing the extent of monetisation in the country’s political system.

Reflecting on his failed bid under the Peoples Democratic Party (PDP), Momodu recounted spending ₦50 million without securing a single vote.

“I could have bought a property with that money. It was a waste because everything was monetised,” he lamented.

Momodu attributed his decision not to contest in 2027 to the overwhelming influence of money in Nigerian politics.

“Unless a major political party adopts me through a consensus, I can’t compete with those who monetise the system,” he stated.

He described the financial strength of leading candidates as “unbeatable,” pointing to the flow of untraceable cash linked to oil wealth.

“There is no country in the world where people control raw cash like Nigeria,” Momodu asserted.

The journalist further criticised the dominance of political elites he referred to as “principalities,” calling for systemic reforms to address these entrenched issues.

Momodu’s revelations have sparked renewed calls for electoral reforms to curb corruption and reduce the undue influence of money in Nigeria’s political landscape.