Alleged Fraud: EFCC Grills Lagos Speaker; Mudashiru Obasa, Bank Accounts Frozen

Following extensive investigations which began over three months ago, the Economic and Financial Crimes Commission (EFCC), has commenced interrogation of Rt. Hon. Mudashiru Obasa; the Speaker of Lagos State House of Assembly (LSHA) over cases of misappropriation and abuse of office involving siphoning of hundreds of millions of naira belonging to LSHA.

Obasa is allegedly being interrogated for misappropriating funds meant for projects and legislative operations and acquisition property located in Lagos and abroad through illicit funds estimated to be several millions of naira.

Credible sources at the EFCC claimed Obasa arrived at the Lagos Office of the anti-graft agency on Thursday, 8th October to face panel of interrogators who understandably will confront him with evidence of misappropriation and outright stealing through multiple bank personal accounts as well as other bank account linked to his companies and network of cronies including a lady believed to be his personal assistant. The lady is believed to have served as channel through which huge sums of funds belonging to the LSHA were laundered for acquisition of property abroad.

Meanwhile, EFCC has been granted an order to freeze three bank accounts belonging to the Speaker of the Lagos State House of Assembly, Mudasiru Obasa.

EFCC, in a matter filed at the federal high court, Lagos, with suit number; FHC/L/CS/1069/2020, sought an ex-parte order to freeze Mr Obasa’s three bank accounts with the Standard Chartered Bank pending the conclusion of an ongoing investigation into the allegations of diversion of funds, abuse of office and money laundering levelled against him.

The ruling was made on September 15 and was signed by the court’s registrar, Adebimpe Oni.

The account details as contained in the order include a United States Dollar account with number, 001852963; current account (0018552956) and a savings account (5002349821).

The anti-graft agency said it filed the matter “Pursuant to section 44 (2) (K) of the Constitution of the Federal Republic of Nigeria 1999 (as amended) and section 26, 29, and 34 (1) of the Economic and Financial Crimes Commission (Establishment) Act, 2004, and under the inherent jurisdiction of this honourable court.”

The speaker has in the last few months been enmeshed in controversies over allegations of his involvement in contract scandals, money laundering, among others. He has denied the allegations.

While details of evidence EFCC operatives at the Ikoyi Office will use in confront Obasa are still sketchy, our sources however indicated that the lady who served as Obasa’s personal assistant has revealed much about her involvement in fraud perpetrated by the Speaker.

The lady and a couple of other cronies who were said to have been interrogated for days at the Lagos Office of the EFCC may have provided useful information about illicit transactions running into several millions of Naira which were laundered on behalf of the Speaker Mudashiru Obasa.

Anti-graft operatives are also believed to have interrogated scores of bank officials linked with the transactions as well as number of vehicle dealers who provided information on transactions that established fraudulent dealings by the Speaker.

Notably, investigations may have revealed how funds belonging to LSHA were diverted into acquiring several houses in different locations in Lagos.

Investigations into Obasa’s string of houses which are believed to be ongoing may have revealed how Obasa acquired no fewer than hundred houses most of which are in Agege area of Lagos as well as other locations of choice in Lagos metropolis.

It is not immediately clear if any member of LSHA has so far been implicated apart from the Speaker. However, there are indications that a number of Obasa’s accomplices cooperated with the EFCC during investigations by providing credible leads on the huge fraud perpetrated at the LSHA. While Obasa’s interrogations at the Lagos Office of EFCC may continue for the new few days, there is however strong indication that prosecution of the head of Lagos legislative assembly may commence soon after the interrogation.