The Economic and Financial Crimes Commission (EFCC) has been asked to look into an alleged money-laundering transaction involving former President Olusegun Obasanjo and former Ekiti State Governor Ayodele Fayose by the Human and Environmental Development Agenda Resource Center (HEDA).
HEDA cited a November 25, 2025, media story in which Fayose acknowledged providing Obasanjo with $20,000 in cash as logistical support for attending his 65th birthday celebration in Lagos in the petition submitted by its chairman, Olanrewaju Suraju. In response, Obasanjo openly acknowledged giving the money back in cash.
The Money Laundering (Prevention and Prohibition) Act, 2022, which restricts individual cash transactions to ₦5 million and requires that higher quantities be funneled via financial institutions, was allegedly broken by both men’s confessions, according to the group.
HEDA pointed out that such unauthorized transactions are subject to fines under Section 19 of the Act.
According to Suraju, Fayose and Obasanjo’s remarks were blatant acknowledgements of an illegal financial transaction that was carried out well above the legal cash barrier.
In order to preserve 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 episode would erode public trust in anti-money-laundering authorities and jeopardize current attempts to stop the dollarization of the economy.
The EFCC’s renewed commitment to upholding the law was demonstrated by the recent conviction of Mr. Precious Uzondu for foreign exchange dealings.
HEDA asked the Commission to take the issue very seriously and reiterated its commitment to encouraging accountability.
