The Human and Environmental Development Agenda (HEDA Resource Centre) has formally petitioned the Economic and Financial Crimes Commission (EFCC), seeking a thorough investigation into an alleged money-laundering transaction involving former Ekiti State Governor Ayodele Fayose and former President Olusegun Obasanjo.
In the petition, signed by HEDA’s Chairman, Olanrewaju Suraju, and addressed to EFCC Chairman Mr. Olanipekun Olukoyede, the civil society organization referenced a report from November 25, 2025. This report indicated that Fayose admitted to giving Obasanjo $20,000 in cash to cover travel logistics for attending his 65th birthday celebration in Lagos. HEDA highlighted that the former President also publicly confirmed returning the money in cash.
HEDA contended that this exchange violates the Money Laundering (Prevention and Prohibition) Act, 2022, which restricts cash transactions to N5 million for individuals and requires larger sums to be conducted through financial institutions. The organization pointed out that Section 19 of the Act imposes penalties for such violations.
Suraju stated that the comments made by both Fayose and Obasanjo imply an admission of a financial transaction conducted in cash that exceeds the legal limit, necessitating urgent investigation and prosecution.
The civil group urged the anti-graft agency to act promptly, warning that inaction could jeopardize ongoing efforts to combat money laundering and de-dollarize the Nigerian economy. HEDA referenced the recent conviction of Mr. Precious Uzondu for conducting business in foreign currency as evidence of the EFCC’s increased enforcement efforts.
HEDA reaffirmed its commitment to accountability and called on the EFCC to demonstrate independence and uphold the rule of law by treating this allegation with the seriousness it warrants.
