The Human and Environmental Development Agenda (HEDA Resource Centre) has petitioned the Economic and Financial Crimes Commission (EFCC), urging a full investigation into an alleged cash 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 EFCC Chairman Olanipekun Olukoyede, HEDA referenced a 25 November 2025 report in which Fayose allegedly admitted giving Obasanjo $20,000 in cash as travel logistics for attending his 65th birthday event in Lagos.
Obasanjo was also said to have publicly confirmed that he returned the money in cash.
HEDA argued that the reported exchange constitutes a violation of the Money Laundering (Prevention and Prohibition) Act 2022, which limits cash transactions for individuals to N5 million.
Any amount above that threshold must be processed through a financial institution, with Section 19 prescribing penalties for breaches.
Suraju said the statements credited to both men amount to a clear admission of a cash transaction far exceeding the lawful limit, adding that the development warrants “immediate investigation and possible prosecution”.
The organisation warned that failure to act could weaken Nigeria’s anti–money laundering efforts and undermine the current push to curb the use of foreign currency in domestic transactions.
HEDA also pointed to the recent conviction of Mr Precious Uzondu for conducting business in foreign currency as an example of the EFCC’s renewed resolve to enforce compliance.
Reaffirming its commitment to transparency and accountability, the group urged the EFCC to uphold the rule of law and handle the allegations with the seriousness they deserve.
