Nigerian banking and private aviation mogul Atedo Peterside calls for electoral reform

Atedo Peterside has renewed his campaign for electoral reform, saying the Independent National Electoral Commission (INEC) under former chair Mahmood Yakubu became “a national disgrace” and that courts have “failed woefully” to uphold voter confidence. The banker-turned-policy advocate, who owns Anap Jets and founded Stanbic IBTC, said Nigeria cannot restore trust without shifting more disclosure duties to the electoral umpire.

In a television interview this week, Peterside argued that reform should “flip” the burden of proof: where credible challenges arise, INEC must promptly release full poll records—results sheets, uploads, logs—and face penalties for non-compliance. He said the onus now falls too heavily on citizens and candidates to chase documents while timelines expire.

Peterside’s critique lands as Abuja resets the commission’s leadership. New INEC chair Joash Amupitan has pledged to work with the National Assembly on a “credible, fair and free” process; lawmakers are weighing amendments before the next cycle. The contrast between those promises and Peterside’s charge underscores how far the system must move to rebuild legitimacy.

The businessman also pressed the judiciary. According to Peterside, post-election litigation has too often rewarded technicalities over evidence, with inconsistent rulings eroding acceptance of outcomes. He warned that when courts duck hard calls, voters assume impunity will prevail. That, he said, invites self-help and depresses turnout.

The businessman called for automatic, time-bound transparency from INEC; presumptive access to all electronic and physical returns; clear audit trails for uploads; and sanctions for officials who obstruct disclosures. Peterside’s Anap Foundation—known for civic campaigns around credible polls—has long argued that credible results rely on verifiable datasets beyond anything else.

Peterside, 70, founded Investment Banking & Trust Company (IBTC) in 1989; the lender merged with Stanbic Bank Nigeria in 2007 to form Stanbic IBTC, today one of the country’s largest financial groups. He remains a major indirect shareholder through a family trust, and sits in the ecosystem around the Standard Bank group. He is chairman and majority beneficial owner of private aviation operator Anap Jets, and president of Anap Foundation, a non-profit focused on good governance.