By National Corruption Watch Investigative Desk
“The true measure of a nation’s greatness is how it treats its public trust.”
As Nigeria grapples with spiraling debt, infrastructural decay, and public disillusionment, a new wave of civic consciousness is emerging—demanding accountability not only for misgovernance, but for the unchecked, unjustifiable accumulation of wealth by public officials. At the center of this national reckoning stands Babatunde Raji Fashola, SAN—former Chief of Staff, Governor, and Minister—whose rise to vast personal fortune encapsulates the deep-rooted system failures that continue to erode Nigeria’s prospects for sustainable development.
I. A RISE SHROUDED IN QUESTIONS
Babatunde Fashola’s ascent from personal assistant to political juggernaut remains one of the most curious trajectories in Nigeria’s Fourth Republic. With no known inheritance, private sector enterprise, or business track record before assuming public office, his transformation into a figure of immense wealth is both dramatic and troubling.
While his public biography omits details of early affiliations and asset growth, multiple investigative efforts—especially by civil society watchdogs and select professionals in the Nigerian Institute of Quantity Surveyors (NIQS)—have exposed alarming gaps between declared state expenditures under his leadership and the actual value of projects delivered, especially during his tenure as Governor of Lagos State (2007–2015).
II. THE COST OF CORRUPTION: ROAD CONTRACTS AS A CASE STUDY
Repeated efforts to invoke the Freedom of Information Act (FOIA) to obtain detailed cost breakdowns of key infrastructure projects in Lagos were obstructed—often with the help of influential media allies and apologists. However, a landmark analysis conducted by an independent civil group in collaboration with selected NIQS professionals revealed that actual costs for many roads constructed under the Fashola administration were inflated by as much as 900%—with some projects costing less than 10% of the amount stated in state budgets.
According to a former Julius Berger official who later turned whistleblower, Fashola allegedly acquired covert shareholding in the multinational contractor, awarding multi-billion dollars & naira contracts effectively to companies in which he held financial interest—a classic case of self-dealing in his 20 yrs of inglorious service in government.
III. THE IMMORALITY OF UNEXPLAINED WEALTH
At the core of the outrage is not just the scale of alleged corruption, but the impunity and moral brazenness with which individuals like Fashola re-emerge in the public spotlight—delivering keynote addresses and waxing philosophical about governance, as he recently did at the 60th birthday celebration of media apologist Seye Kehinde.
No journalist of integrity at the event dared to raise a question about his wealth origins. But Nigerians must now begin to ask:
What was his net worth before his appointment as Chief of Staff in Lagos State?
How did he accumulate trillions in assets and multiple offshore accounts without any industry or business background?
Why is the asset declaration regime so politically ineffective that no one can be held accountable?
Babatunde Fashola is the first Nigerian in the country’s political history to hold a portfolio of 3 major Ministries at the same time. (Power, Works & Housing, Roads Infrastructure).
A 2022 leaked document from U.S. financial intelligence sources revealed Fashola’s offshore account balance reportedly exceeding $2.1 billion—a figure inconsistent with every known income source available to him.
IV. PROFESSOR BADEJO’S REBUTTAL: PATRIOTISM WITHOUT ACCOUNTABILITY IS UNPATRIOTIC
In his compelling article titled “My Country, Right or Wrong Mentality is Actually Unpatriotic: A Dialogue with Fashola,” Prof. Babafemi A. Badejo delivers a powerful critique of Babatunde Fashola’s recent speech advocating optimism and national pride while conveniently ignoring Nigeria’s entrenched corruption and systemic leadership failure. Badejo underscores that genuine patriotism demands truth-telling, accountability, and reform—not blind loyalty or rhetorical idealism. Drawing on empirical data, including his 2024 corruption perception survey involving 1,426 Nigerians, he reveals overwhelming public disillusionment, with over 80% believing corruption remains pervasive, especially in government. He argues that Fashola’s message, though eloquently delivered, fails to address the root causes of Nigeria’s stagnation—namely leadership deficits, institutional decay, and a culture that enables unjustifiable wealth among political elites. For Prof. Badejo, hope without reform is hollow, and patriotism without justice is unpatriotic.
V. INTERNATIONAL COMPARATIVE FRAMEWORKS
Other nations have tackled similar threats to accountability with deliberate, institutionalized rigor:
Singapore, under Lee Kuan Yew, instituted a zero-tolerance stance on unexplained wealth. Ministers and their families were subject to open asset disclosures; any unexplained increase in assets led to immediate prosecution or removal from office.
Rwanda, under Paul Kagame, created a robust Office of the Ombudsman and held high-ranking officials accountable through lifestyle audits.
In South Korea, President Park Geun-hye and multiple ministers were prosecuted for illicit wealth accumulation, reinforcing the rule of law.
Nigeria’s failure to enforce wealth declarations or prosecute financial crimes retroactively emboldens a culture where looters become role models and corruption becomes a rite of passage, not a crime.
VI. THE CASE FOR INFORMAL ACCOUNTABILITY
In the absence of effective institutional enforcement, Nigerians must now take responsibility for informal social audits:
Reject unpatriotic wealth at social, religious, and political gatherings.
Demand transparency from every former official who seeks the limelight.
Refuse to celebrate looters masquerading as public intellectuals.
The National Corruption Watch proposes an annual “Hall of Shame” award for unpatriotic Nigerians who cannot credibly explain their wealth after holding public office—especially when their lifestyle and assets grossly contradict their known income sources.
No public official should enjoy immunity from scrutiny when their wealth cannot be justified. The Nigerian Constitution in Section 14(2)(b) makes it clear that the government’s primary responsibility is to safeguard the welfare of its citizens, and Section 15(5) obligates the state to eliminate all forms of corruption and abuse of office. The Code of Conduct explicitly prohibits public officers from using their positions for personal gain, including awarding contracts to themselves or selling public assets without transparency and due valuation. Acquiring wealth through backdoor deals or exploiting public office is not just unethical—it’s unconstitutional. Investigations into such conduct are not a choice, but a legal and moral necessity.
VII. CONCLUSION: TIME TO CALL A SPADE A SPADE
Prof. Babafemi Badejo’s work is not merely a critique of Fashola’s rhetoric—it is a wake-up call to all Nigerians. The greatest threat to Nigeria’s future is not poverty, insecurity, or underdevelopment alone—it is the bold, unapologetic celebration of corruption by those who once held power. Until Nigeria begins to prosecute—not praise—those who looted the nation blind, true progress will remain a dream deferred.
RECOMMENDATION
The Presidency, Anti-graft agencies, civil society & patriotic media must:
Investigate and publish the full asset profile of Babatunde Fashola from 1999 to date.
Launch a forensic audit of all Lagos State road projects from 2007–2015.
Introduce a Public Wealth Origin Inquiry Bill to mandate retrospective lifestyle audits for all past political office holders.
Let this be the generation that begins to say: “No more free passes for the corrupt.”
Nigeria must rise. The people must speak. And the truth must prevail.
Olatunde Oludare. PhD.
National Corruption Watch.
Published by: Headlinenews.news.
Authored by: Investigative Desk, NCW | May 2025
For comments, email: editor.headlinenews@gmail.com
“The Looters Among Us: Fashola and the Silent Corruption That Killed Nigeria”
This report by the National Corruption Watch presents a compelling case study on systemic corruption, focusing on former Minister and Lagos State Governor Babatunde Fashola, SAN, whose accumulation of vast, unexplained wealth exemplifies Nigeria’s chronic failure to enforce transparency, asset accountability, and anti-corruption statutes. Drawing on constitutional provisions—Sections 14(2)(b), 15(5), and the Code of Conduct for Public Officers—the report underscores the government’s duty to protect public interest, prevent self-dealing, and ensure public funds and assets are not diverted for private gain. The report integrates insights from Prof. Babafemi A. Badejo’s critical article, which dismantles Fashola’s recent public rhetoric on patriotism and optimism, exposing it as an attempt to mask the harsh realities of institutional decay and governance failures. It calls for an independent investigative committee to review Fashola’s tenure, trace asset origins, and recommend prosecution where evidence warrants—emphasizing that restoring integrity in public office is essential to Nigeria’s democratic and developmental future.
Prof. Olatunbosun.
” From Nobody to Trillionaire: The Fashola Mystery That Must Be Investigated”.
Any public officer who suddenly amasses unexplained wealth must be investigated. Section 14(2)(b) of Nigeria’s Constitution mandates government to protect citizens’ welfare, while Section 15(5) demands the abolition of corruption. The Code of Conduct forbids public officers from self-dealing or benefiting from government contracts. Illegal acquisition or sale of government property without due process is a constitutional breach. A probe is not optional—it’s a legal duty. Accountability must prevail.
#EndCorruption #RuleOfLaw #AccountabilityNow
Social Media Influencer & Activist.
” Public Office, Private Wealth: How Fashola Profited from Nigeria’s Pain”.
As Nigerian students struggling through overcrowded lecture halls, unpaid academic staff, and decaying campus infrastructure, we cannot remain silent while former public officials like Babatunde Raji Fashola, SAN, bask in unexplained wealth accumulated during years in public office. His extravagant fortune, with no known legitimate business or industry behind it, stands in painful contrast to our daily realities. If even a fraction of the trillions spent under the guise of road and infrastructure development—now questioned by civil engineers and professionals—had been invested in education, Nigeria would not be producing graduates without functional labs, libraries, or employability. Instead, education was deliberately underfunded while infrastructure became a tool for inflated contracts, self-dealing, and covert profiteering.
We, the students of Nigeria, are demanding an urgent and transparent probe into Mr. Fashola’s wealth. We call on the Presidency, the National Assembly, and anti-corruption agencies to investigate his asset origins, verify contract award processes, and prosecute any breaches of the Constitution and Code of Conduct. Nigeria cannot grow while those who looted its future walk free, giving lectures about patriotism. We want justice—not just for us, but for the generations yet to come. We know his adventures with the female students, nevertheless it doesn’t clear him from his crimes.
Nigerian Students Aluta.
“Why Is Fashola Still Free? The Unanswered Questions About His Fortune”.
“There can be no true deterrence when the powerful are exempt from justice.”
Some senior and mid-level intelligence officers, both active and retired, have expressed deep concern over the continued freedom of former Minister Babatunde Fashola despite mounting allegations of massive, unexplained wealth accumulation during his years in public office. According to these officers, Fashola’s case represents a glaring example of selective anti-corruption enforcement, where political proximity appears to shield individuals from investigation and prosecution. They argue that the failure to probe and hold Fashola accountable undermines national security in the long term by eroding public trust, emboldening future looters, and discrediting the entire anti-graft framework.
In their words, “The message being sent is dangerous: that some people are above the law. This is not justice, and it will never deter those watching from looting tomorrow.” They call on the federal government and Nigeria’s anti-corruption agencies to restore credibility by initiating a thorough, transparent investigation into Fashola’s financial dealings and asset trail. For Nigeria to truly move forward, the law must apply to all—without fear or favour.
Retired intelligence officer.
“No More Free Passes: The Case Against Fashola and Corruption in High Places”.
The Legal Imperative for Accountability and Prosecution
The Government of the Federal Republic of Nigeria bears a constitutional and fiduciary obligation to ensure the protection of public interest, the judicious use of public resources, and the integrity of all transactions executed under the auspices of public office. Section 14(2)(b) of the 1999 Constitution (as amended) provides that:
> “The security and welfare of the people shall be the primary purpose of government.”
This constitutional mandate inherently includes the duty to ensure that budgetary allocations and state assets—whether for infrastructure, housing, power, or public works—are applied prudently, transparently, and accountably.
Furthermore, Section 15(5) of the Constitution declares unequivocally:
> “The State shall abolish all corrupt practices and abuse of power.”
This clause forms the legal foundation for Nigeria’s anti-corruption architecture and imposes a binding directive on all arms and levels of government to investigate, prevent, and punish acts of misappropriation, abuse of office, and unjust enrichment by public officials.
In accordance with the Code of Conduct for Public Officers (Fifth Schedule, Part I) of the Constitution:
Paragraph 1 prohibits any public officer from putting themselves in a position where their personal interest conflicts with their official duties.
Paragraph 6 forbids public officers from engaging in self-dealing, including transactions where they benefit from contracts or sales involving government assets.
Moreover, under Paragraph 9, no public officer shall accept or acquire any property improperly, nor engage in the sale or lease of government land or assets for personal gain without due process, independent valuation, and proper documentation. Any violation of this code may trigger investigation and prosecution before the Code of Conduct Tribunal (CCT) or relevant anti-corruption agencies.
It is, therefore, both a legal necessity and a moral imperative that any public officer found to have engaged in acts of financial impropriety, including unauthorized disposal of government property, diversion of contract funds, or covert ownership in companies awarded public contracts, be subjected to full investigative scrutiny. A Special Investigative Committee should be empaneled to assess available evidence, recommend disciplinary action, and, where warranted, refer the matter for criminal prosecution.
This course of action is not merely punitive; it serves as a deterrent to others in public office, strengthens institutional integrity, and reaffirms the government’s commitment to the rule of law, probity, and national development. The precedent set by prosecuting such offences will send a clear message that no one is above the law, and that public office is a position of trust—not a platform for personal aggrandizement.
– Legal Luminary and Patron of National Corruption Watch.
“The Corruption of Silence: Fashola, the FOI Evasion, and Nigeria’s Broken System” It is shameful that someone who is reputed as unpatriotic due to allegations of corruption and sudden wealth without justification is now giving speeches claiming values and virtues of a patriot. What an irony. Fashola has put his mouth & feet in it and may not survive this unscathed. He may get his spin doctors like Seye Kehinde to do some damage control, but many are determined to make a scapegoat of him. He is only loyal to himself and not to Nigeria or anybody. What an ego! I agree with Prof Badejo and NCW on the need to address the issue of corruption urgently due to Nigeria’s present condition. We should not sit back with non- chalance. It behoves every Nigerian to see ways to correct this anomaly. You see someone today, struggling to eat 2 square meals a day and tomorrow he owns jeeps and a fleet of expensive luxury vehicles, properties and offshore accounts. Yet nobody can ask him any question. That must change. Nigeria needs to address that change to satisfy the masses who are upset that nobodies like Fashola are enriched by looting of funds entrusted with them with impunity and still walking free. Nigeria must change.
Prof. Adamu Mohammed.
“When Patriotism Becomes Propaganda: A Response to Fashola’s Rhetoric” I find this report interesting and enlightening. I hope the Nigerian Government will adopt some of the recommendations. It’s about time the government is seen to be doing more to address corruption in the country. More action will send encouraging feedback to investors and the international community. We feel Nigeria is not doing enough to address corruption and this article from the National Corruption Watch is quite interesting & insightful, the suggestions are appropriate in line with global standards. I hope the authorities will adopt some of the suggestions. Corrupt politicians with no justification of their sudden wealth should not be moving freely to address the public despite their status of unjustifiable wealth. The global community is watching Nigeria. – International organisation official.
” False Optimism, Real Corruption: The Fashola Model of Systemic Failure” We can write and expose all we can, but who will execute the laudable recommendations in this article? That’s Nigeria’s problem. Where do we commence action, and by whom? Another problem. I hope the change will come in our generation so we can witness the transformation to make Nigeria great.
We have what it takes to be great, but must eradicate the issues mitigating against the sustainable development of this country. It’s a huge task, but the journey of a thousand miles starts with one step – a step in the right direction like the suggestions of NCW in this article.
All will follow once this recommendations is adopted. I trust our President but he is working towards his re-election now. Let us see what happens in his second term which by God’s grace will be victorious. I believe God is using Tinubu for something to change Nigeria. Look at the message, not the messenger. If any leader will transform Nigeria, it will be Tinubu. Retired Nigerian Ambassador.
“Accountability Deferred: Fashola as a Case Study in Nigeria’s Development Crisis” Interesting case study. Fashola should have been probed for all the atrocities he committed, but Tinubu’s strategy does not include witch hunting looters in Buhari’s regime for now. We don’t know if it will be in his second term, but he has left all known looters and only prosecuted Emefiele whose crimes were against Nigerians, abuse of office and Corruption.
Tinubu knows what he is doing. I know his detractors shall one day answer some questions. Not now. Fashola can walk freely for now. The day of reckoning will surely come.
However, a growing number of national stakeholders have raised alarm over the glaring absence of any significant housing development during Babatunde Fashola’s tenure as Minister for Housing, despite the allocation of trillions of naira to the ministry between 2015 and 2023. With Nigeria’s housing deficit still exceeding 17 million units, and millions of poor families living without decent shelter, these stakeholders insist that Fashola must be formally investigated to account for the vast sums entrusted to his office. Looting funds meant for the vulnerable is not only criminal—it is deeply immoral. Under Section 15(5) of the 1999 Constitution, the State is mandated to “abolish all corrupt practices and abuse of power.” Stakeholders argue that failing to probe such an egregious dereliction of duty violates this constitutional obligation. They call on the National Assembly, the ICPC, and EFCC to act now, not only for justice, but to deter future impunity in the handling of public resources.
Stakeholders in housing sector.
“Hope Without Reform: The Dissonance Between Fashola’s Speeches and Nigeria’s Reality.” I agree with Prof Badejo’s position and appreciate this report too. It’s time to call a spade a spade. How many can beat their chest and claim to be free of any form of corruption in Nigeria?
Very few. When pastors are brazenly corrupt, who will we look up to regards correcting the ills in society? A sad story for Nigeria. If this continues like this, anything can happen. I know this administration is making an effort to stop the extravagant flaunting of money in parties, which make the common man miserable. A good effort.
I hope the Fasholas too will be subject to probe as suggested in this report for posterity. Fashola pen robbed us in Lagos State and could not use the money to do anything good for the people. If I had gone for that event, I would have messed him terribly. I have no respect for such people. A person who should be behind bars, speaking like a clean man?????
A disgrace to public office holders? We will expose him soon.
Ex- civil servant and activist.
” Systemic Corruption and the Fashola Factor: A National Corruption Watch Report” Nice report. I enjoyed reading this and that of Prof Badejo which is a classic. I hope someday, these reports will trigger some action by government or civil societies to start checking the excesses of such persons like Fashola who feel they can go anywhere and speak about Nigeria. What does he want? He definitely is after popitical relevance. When a thief starts to talk, he must be after something. Maybe he wants Atiku to show an interest in him. Whatever it is, it’s suspicious and should be looked at by intelligence agencies. I don’t trust Fashola from here to there. He is desperate for power and has the money to get it. He is a grand master of deception. The APC led government should watch him carefully.
” Unjustifiable Wealth, Unanswered Questions: Investigating Fashola’s Public Legacy”. So, does a public legacy with visible projects, justify the colossal amount of uploading a Project with impunity? One can see that demographic factors like Illiteracy is drawing back the antigraft war in Nigeria. How can people excuse a Governor from accountability because they can see some projects done? Anyway, Nigerians are becoming more politically aware and are asking questions now. Fashola has a lot of Unanswered Questions as far as some people in Lagos are concerned.
Medical stakeholders have joined growing calls for a probe into Babatunde Fashola’s public legacy, citing gross neglect of the health sector during his time as Governor of Lagos State. Despite substantial budget allocations, primary healthcare facilities remained dilapidated, access to essential care was limited, and fake drugs proliferated unchecked—contributing to preventable deaths across the state. “The health of a nation is its wealth,” they said, stressing that Fashola’s failure to invest in life-saving infrastructure while prioritizing high-visibility projects demands urgent investigation and accountability.
The controversial issue of giving Dangote a land with an estimated value of $5Billion for $100,000 without a receipt or terms & conditions of sale is a time bomb which will soon expose Fashola as the most corrupt Governor of the state. He has put the lives of millions of resident in communities in Lagos & Ogun State at risk of serious health hazards including cancer and deformed babies besides respiratory diseases etc. Such selfishness is unacceptable for a leader. Fashola should stop showing up in public as he is a disgrace. Only a controversial junk media personality like Seye Kehinde will invite such a character to speak at his function.
Former Local Government Chairman.
“The Price of Impunity: Fashola’s Wealth Trail and Nigeria’s Broken Institutions” We are going round in circles when it comes to matters of corruption. We are in a democracy and all the gladiators in the three levels of democratic institutions are carrying baggages of corruption, Industrialists, leaders of corporate Nigeria, leaders of public institutions, leaders of spiritual/ faith organisations, leaders of labour unions, every corner in Nigeria you will find a huge nest of corruption woven into the fabric of our national consciousness. How do we take this head on? It’s an uphill task. I wish you all the best. In yoruba, they say ” to ba fa gburu, gburu a fa igbo “. When you start with one, it will open a can of worms and lead to others. That’s the way corruption works.
Without the collaboration of other parties, corruption will not succeed.
So, those of us who know and do nothing about it are also guilty. Leave Fashola to enjoy his loot. Who will ask him where he got money to buy his properties? He doesn’t need to work again in his life or his children and future generations. The money he gets for every job Julius Berger executes in Nigeria is another return from his investment there.
Eventually, God will intervene in Nigeria and raise one person to set the country free. Fashola will never escape. Fashola should stop public speeches from today, a personal advice. He is not free of allegations of corruption so he cannot comment on Nigeria today,as he is part of the problem and should hide. If he wants to follow Aregbesola, he is free as they are all 2023 losers and will not go anywhere with Atiku. Second term is for a Yoruba person and Tinubu deserves a second term.
A retired Military General.
” When the Powerful Walk Free: A Call for Informal Accountability in Nigeria”
Is this possible?
I appreciate the perspective of NCW, but can we achieve this in our generation? I doubt it. To be honest, corruption has become the norm in Nigeria, so how can we break away from something that has become an integral part of our culture. It is most depressing. I knew Fashola when he used to hang around Pa Adeniran Ogunsanya’s residence in Surulere. Tunde was nothing but a hungry young man with big dreams. He got a job as PA to some dignitary, and his climb started from there. He was a hustler. He never practiced law but bought the SAN, so this is where our corruption starts. Every sector is corrupt. How will we rise up now to clean what is rotten beyond imagination. Fashola as Governor was the epitome of corruption, but some said he performed, so he should not be challenged. Don’t be surprised he used money to silence those with evidence against him and used money to sponsor those to speak in his favor. He spent his illgotten wealth well. A very greedy and selfish egoistic self serving bigot! When I read this article, I had to comment. I am praying that somebody would hold Fashola accountable for all his crimes in shaa Allah. Nobody knew him till Tinubu imposed him on lagosians. Look at how he paid Tinubu back? Is that the kind of character you wish to prosecute? As slippery as an eel? I wish you guys the best of luck, I am watching and waiting.
I hope Tinubu gets a second term because there will be surprises for people like Fashola no matter how much he starts campaigning for Tinubu, because the law of Karma governs the universe and Fashola shall surely reap what he has sown. He had better keep a low profile because people will soon start booing him and insulting him in public.
He is not liked at all. He should retire from public life after 20 years of looting.
– Banker.
“The Patriotism Deception: Fashola, Corruption, and the Failure of Governance” Quite True. It is unfortunate that a Nigerian held 3 lucrative ministries at the same time under Buhari and was unable to achieve anything worthy of mention except his huge offshore balance. I agree that he should be number one in the Hall of Shame proposed. I learned later that he betrayed his benefactor Tinubu and convinced Buhari against accepting Tinubu into his government, promising the clueless Buhari that he Fashola would replace Tinubu politically if he was empowered to achieve Buhari’s preferred successor. Fashola, Aregbesola, Osinbajo, and other Yorubas without conscience formed an unhealthy alliance to frustrate Tinubu’s political aspiration in every way possible, including propaganda with dirty blackmailers like Seye Kehinde who has many court cases of libel which he cleverly settles out of court as the Elites have no time to engage with such scum. Fashola claimed to have completed the second Niger bridge after collecting trillions but used the black media apologists to conceal the real status of the bridge. Fashola has committed many crimes, and I am shocked that he is insulting our intelligence by coming out in public to defend Nigeria’s situation after looting the commonwealth shamelessly. I heard from an insider amongst those protesting against Tinubu’s hold on Lagos that Fashola is an underground sponsor of the movement.
When will Fashola stop this hypocrisy? He should have been prosecuted by now, like Emefiele, as he owns properties and funds offshore, but walking free with all his colleagues who worked against Tinubu. Tinubu is a great man, and I know God will continue to protect him against such disgruntled chameleons who say one thing and mean another. I enjoyed this article by the National Corruption Watch and look forward to some actions from this report. Prof Badejo, my colleague, I must give my special gratitude for an excellent write-up as usual. Thanks to Headlinenews.news for doing a great job by publishing objective articles that the mainstream media may be reluctant to publish due to interests and unjustifiable policies to protect some interests. However, it’s great to have bold, courageous objective publishing outfits like this.
I commend their style and perspective. Nigeria needs news portals like this. I know they will grow very big soon.
Prof. Olawale.
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