In the history of Nigerian politics, the Northern political leaders have seen the Yoruba People as their political rival, and major obstacle to their political ambition to continue the domination of Nigeria. Chief M.K.O. Abiola was the winner of the June 12, 1993 Presidential election in Nigeria. The conduct and manner of collation of results of this election still remain superior to other elections such as the Presidential elections of 1979, 1983, 1999, and 2003, hence June 12, 1993 is dubbed by analysts as the only free, fair and credible Presidential election in the nation’s history. Even though it was very obvious and clear that Chief Abiola won the election, General Ibrahim Badamasi Babangida, eventually annulled this election, on June 23, 1993. The aim of this paper is to examine the political struggle between the Yoruba people and the northern people in the Nigerian political equation, and a critical evaluation and analysis of the emergence and the goal of geo-ethno-military clique and their Northern political class, better known as the Kaduna Mafia, and the denial of Chief Abiola’s presidential election of 1993 which he won. The paper will also examine the consequences of the annulment of this election, and the future of democracy in Nigeria.