Breaking: Lagos Speaker Obasa Faces Arrest Over Alleged ₦43.5 Billion Fraud

The recently impeached former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is poised to face heightened scrutiny from the Economic and Financial Crimes Commission (EFCC) over allegations of misappropriating ₦43.5 billion in state funds.....KINDLY READ THE FULL STORY HERE▶

Sources within the anti-corruption agency disclosed to Peoples Gazette that Obasa, removed from office on Monday following an investigative report exposing extravagant spending on luxury backup vehicles, is expected to be arrested upon returning to Nigeria from the United States.

An EFCC official, speaking anonymously, confirmed, “The evidence against him is overwhelming. This time, there’s no escape. The case has been carefully prepared, and we are ready to proceed.”

Obasa, who previously underwent an EFCC probe in 2020 over allegations of spending ₦1.1 billion within a single week but was cleared without charges, may not be as fortunate this time. Officials believe his chances of avoiding prosecution have significantly diminished.

“This will be the end of his political impunity,” the source added, underscoring the agency’s commitment to pursuing justice.

Additionally, Obasa appears to have lost the support of key political allies, including President Bola Tinubu. Sources close to the Chief of Staff, Femi Gbajabiamila, revealed that Obasa’s attempts to reach the Presidency have been ignored, signaling a deliberate severance of ties.

“He’s politically isolated now,” a source said. “The powerful network that once shielded him is no longer in place.”

With his impeachment finalized and an EFCC investigation imminent, Obasa’s political future remains uncertain. Questions linger over whether he will return to Nigeria to serve as a regular member of the House of Assembly or evade justice entirely.

The EFCC, however, has assured that plans to apprehend Obasa are firmly in place. “There is no political interference in this case,” an EFCC insider confirmed. “He will have to answer to our investigators.”