Falae described what is being practised today as "deformed democracy and monetocracy", which he noted was a clear opposite of what was laid down by heroes of democracy.
Chief Olu Falae, a former Secretary to the Government of the Federation, has said that the hope of those, who fought for Nigeria's democracy had not been realized as citizens still wallowed in abject poverty.
Falae described what is being practised today as "deformed democracy and monetocracy", which he noted was a clear opposite of what was laid down by heroes of democracy.
He explained that many people, who fought the late General Sanni Abacha’s dictatorship for Nigeria to return to democracy, had also been sidelined by the politics of the country.
He said, "This is not what we fought for and what we are even practising today is a deformed democracy and monetocracy.
“People are killed, kidnapped and scared from the voting points and people are also shamelessly distributing money and buying votes.
"This type of process cannot produce true fruit of democracy anywhere in the world.
"The fruits of democracy include freedom to express your opinion responsibly without fear or molestation and this is no longer there."
He added that the nation's democracy had been badly compromised by successive leaders, who abused the power of their office.
While noting that the country must find its way back to true democracy, Falae said the only cure for undemocratic practice in Nigeria was to geniuely restructure the country.
He added, “Let us restructure Nigeria and separate power and return to parliamentary democracy which is a consultative system."