Afegbua is wanted for allegedly making false statements, injurious falsehood, defamation of character and for act capable of inciting public disturbance.
A statement by the FPRO, CSP Jimoh Moshood on Monday in Abuja, said Afegbua should report to the nearest police station in the country.
Afegbua in a purported statement, quoted Babangida as asking President Muhammadu Buhari not to seek re-election.
But the former president denied the claim by the aide in a statement he personally signed.