Obasa has been replaced by his deputy, Mojisola Meranda, who represents Apapa Constituency 1. Meranda, a former Chief Whip of the House, now assumes the role of Speaker.
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Mojeed Fatai has been appointed as the new Deputy Speaker.
Obasa has faced mounting controversy, particularly regarding his financial dealings.
His removal follows accusations that he allegedly spent N17 billion on a gate project leading to the Assembly just a month ago.
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