Ibrahim said he has petitioned President Buhari and reported the official who demanded bribe to the INEC Chairman.
At a press briefing in Abuja, Ibrahim accused INEC of trying to exclude him from the election, alleging that an official of the Commission demanded a $1 million bribe from him.
Ibrahim said following the delivery of the court ruling, which ordered INEC to recognise him as the legitimate candidate for the election, the Commission had said it will obey the judgment, but made a U-turn "immediately INEC was served the judgement (Paperwork)."
"After the service, the music changed. INEC should not allow one governor to destroy its reputation. We are not saying that INEC will not obey the court judgement. One of the officials demanded one million dollar bribe from me to process the court judgement," the business mogul alleged.
According to him, he has petitioned President Muhammadu Buhari and reported the official who demanded money from him to the INEC chairman, Mahmood Yakubu.
Ibrahim also demanded the removal of the Resident Electoral Commissioner (REC) in Ondo State, saying that he is a card-carrying member of the PDP.
He said the REC cannot conduct a free and fair election in the state.
INEC, however, denied the bribery allegation, describing it as "ungodly."
"It is not true that Mrs Babalola demanded one million dollars from Jimoh Ibrahim. Two other officials of INEC witnessed the encounter between Mrs Babalola and Ibrahim. Ibrahim brought a copy of his judgement and wanted to impress it on INEC to collect it but we told him we already have it. It is ungodly of a businessman of his stature to make this kind of allegation," the Chief Press Secretary to the INEC chairman, Rotimi Oyekunmi.
Ibrahim had emerged winner of the party's primary election conducted by the Ali Modu Sheriff faction of the PDP, while Eyitayo Jegede was produced by the Ahmed Makarfi-led caretaker committee.
The names of the two candidates were separately submitted to INEC as the party's flag-bearers, which threw the electoral umpire into confusion as to who to choose.
Despite the ruling delivered by an Abuja high court last week, INEC still expressed confusion at taking a stand on the matter.