BREAKING: Speaker of Lagos State Obasa is Being Arrested for Alleged ₦43.5 Billion Fraud.

The recently impeached former Speaker of the Lagos State House of Assembly, Mudashiru Obasa, is set to undergo intensified examination by the Economic and Financial Crimes Commission (EFCC) regarding allegations of misappropriating ₦43.5 billion in state funds. Sources within the anti-corruption agency informed Peoples Gazette that Obasa, who was removed from his position on Monday following an investigative report that revealed excessive expenditures on luxury backup vehicles, is anticipated to be arrested upon his return to Nigeria from the United States. An EFCC official, who requested anonymity, stated, “The evidence against him is substantial. This time, there is no way out. The case has been meticulously prepared, and we are ready to move forward.” Obasa, who previously faced an EFCC investigation in 2020 concerning claims of spending ₦1.1 billion in just one week but was ultimately cleared of any charges, may not enjoy the same outcome this time. Officials believe that his chances of evading prosecution have significantly decreased. “This will mark the end of his political impunity,” the source emphasized, highlighting the agency’s determination to seek justice. Furthermore, Obasa seems to have lost the backing of significant political allies, including President Bola Tinubu. Sources close to Chief of Staff Femi Gbajabiamila indicated that Obasa’s attempts to engage with the Presidency have been disregarded, suggesting a deliberate distancing. “He is now politically isolated,” a source remarked. “The influential network that once protected him is no longer operational.” With his impeachment confirmed and an EFCC investigation on the horizon, Obasa’s political future remains in jeopardy. Uncertainties persist regarding whether he will return to Nigeria to serve as a regular member of the House of Assembly or attempt to evade justice altogether. The EFCC, however, has assured that plans to apprehend Obasa are firmly established. “There is no political interference in this case,” an EFCC insider affirmed. “He will be required to respond to our investigators.”