$20,000 Cash Exchange: HEDA Petitions EFCC Against Fayose and Obasanjo

The Economic and Financial Crimes Commission (EFCC) has been asked by the Human and Environmental Development Agenda Resource Centre (HEDA) to look into a suspected money-laundering transaction involving former president Olusegun Obasanjo and former Ekiti State governor Ayodele Fayose.

HEDA cited a media article from November 25, 2025, in which Fayose acknowledged paying Obasanjo $20,000 in cash as logistical support for attending his 65th birthday celebration in Lagos, in the petition filed by its Chairman, Olanrewaju Suraju. In response, Obasanjo acknowledged in public that he had returned the $1,000 payment.

The group claimed that both men’s admissions violated the Money Laundering (Prevention and Prohibition) Act, 2022, which requires bigger amounts to be sent through financial institutions and caps individual cash transactions at ₦5 million.

Section 19 of the Act stipulates penalties for such unlawful activities, according to HEDA.

According to Suraju, Fayose and Obasanjo’s remarks were unmistakable confessions of an illegal financial transaction that was carried out well above the permitted 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 incident 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.

It used Mr. Precious Uzondu’s recent conviction for foreign exchange transactions as proof of the EFCC’s renewed commitment to upholding the law.

HEDA asked the Commission to take the issue seriously and reiterated its commitment to fostering accountability.