The Economic and Financial Crimes Commission (EFCC) has been asked by the Human and Environmental Development Agenda Resource Centre (HEDA) to look into an alleged money-laundering transaction involving former President Olusegun Obasanjo and former Ekiti State Governor Ayodele Fayose.
HEDA cited a November 25, 2025, media story in which Fayose acknowledged paying Obasanjo $20,000 in cash as logistical support for attending his 65th birthday celebration in Lagos in the plea submitted by its chairman, Olanrewaju Suraju. In response, Obasanjo openly acknowledged giving the money back in cash.
The group claimed that both men’s admissions violated the Money Laundering (Prevention and Prohibition) Act, 2022, which requires that bigger amounts be sent through financial institutions and caps individual cash transactions at ₦5 million.
HEDA pointed out that sanctions for such forbidden activities are outlined in Section 19 of the Act.
According to Suraju, Fayose and Obasanjo’s remarks were blatant confessions of a financial transaction that was illegal and carried out well above the legal cash barrier.
In order to maintain the integrity of Nigeria’s anti-money-laundering system, he encouraged the EFCC to look into and prosecute the case immediately.
The organization warned that ignoring the occurrence would erode public trust in anti-money-laundering authorities and jeopardize continuing efforts to stop the dollarization of the economy.
The EFCC’s increased resolve to uphold the law was demonstrated by the recent conviction of Mr. Precious Uzondu for foreign money transactions.
HEDA asked the Commission to take the issue seriously and reiterated its commitment to encouraging accountability.
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