HEDA Petitions EFCC to Investigate Fayose and Obasanjo Over Alleged Cash Transaction

The Human and Environmental Development Agenda (HEDA Resource Centre) has petitioned the Economic and Financial Crimes Commission (EFCC), calling for a thorough investigation into an alleged money-laundering transaction involving former Ekiti State Governor, Ayodele Fayose, and former President Olusegun Obasanjo.

In a petition signed by its Chairman, Olanrewaju Suraju, and addressed to the EFCC Chairman, Mr. Olanipekun Olukoyede, HEDA referenced a November 25, 2025 report in which Fayose reportedly admitted giving Obasanjo $20,000 in cash as travel logistics for attending his 65th birthday celebration in Lagos. According to HEDA, Obasanjo also publicly confirmed that he returned the money in cash.

The organisation described the alleged exchange as a violation of the Money Laundering (Prevention and Prohibition) Act, 2022, which restricts cash transactions to a maximum of N5 million for individuals. The Act mandates that any amount above that limit must be conducted through financial institutions, with Section 19 outlining penalties for offenders.

Suraju stated that the comments attributed to both men amount to an admission of a cash transaction far above the legally allowed limit. He stressed that the development calls for immediate investigation and possible prosecution.

HEDA further urged the EFCC to act promptly, warning that ignoring the matter could undermine efforts to combat money laundering and discourage the ongoing drive to reduce the use of foreign currency in Nigeria’s economy.

The group cited the recent conviction of Mr. Precious Uzondu for conducting business in foreign currency as evidence of the EFCC’s renewed enforcement efforts.

Reaffirming its commitment to transparency and accountability, HEDA urged the anti-graft agency to uphold the rule of law and treat the allegations with the seriousness they deserve.