Osaguona has hit the ground running since he joined the Moroccan side last December with his goals helping them in the Caf Champions League and the domestic league.
He has scored two goals in the Botola Pro League and three in the Caf Champions League in a total of nine matches for Raja so far.
He said Raja agreed to pay the money in three installments but Rangers are yet to get a dime.
“We have also written to Raja and have also copied [the] Morocco FA and Caf that they have till the end of next week to pay the transfer fees of Ighodaro Christian Osaguona. We will take it to further lengths by going to Fifa if they do not comply with our latest ultimatum,”according to goal.
“It is after we have explored all possibilities and there is no headway that we will ask for his recall because they have reneged on the agreement reached with them.”
Osaguona scored 16 league goals for Rangers in the 2013/2014 Nigeria Professional Football League season.