HEDA Petitions EFCC Over Alleged Money Laundering Involving Fayose, Obasanjo
The Human and Environmental Development Agenda (HEDA Resource Centre) has petitioned the Economic and Financial Crimes Commission (EFCC), demanding a full 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, addressed to the EFCC Chairman, Mr. Olanipekun Olukoyede, the civil society organization referenced a report by The Nigeria Lawyer on 25 November 2025, which stated that Mr. Fayose admitted to giving former President Obasanjo $20,000 cash as “travel logistics” for attending his 65th birthday celebration in Lagos. The organisation noted that former President Obasanjo also publicly confirmed returning the money in cash.
Meanwhile, HEDA maintained that the exchange constitutes a breach of the Money Laundering (Prevention and Prohibition) Act, 2022, which limits cash transactions to ₦5 million for individuals and mandates that higher sums be conducted through financial institutions. The group noted that Section 19 of the Act prescribes penalties for violations.
According to Suraju, the statements credited to both men amount to an admission of a financial transaction carried out in cash well beyond the legal threshold, therefore the development requires immediate and diligent investigation and prosecution.
The civil group further urged the anti-graft agency to act swiftly, warning that failure to address the incident could undermine ongoing efforts to curb money laundering and de-dollarise the Nigerian economy. HEDA cited the recent conviction of Mr. Precious Uzondu for conducting business in foreign currency as an example of the Commission’s renewed enforcement drive.
HEDA reiterated its commitment to accountability and called on the EFCC to demonstrate independence and uphold the rule of law by treating the allegation with the seriousness it deserves.
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