EFCC Explains Why It Froze Osun State Government Account

The Economic and Financial Crimes Commission has defended its decision to freeze the Osun State Government’s bank account, insisting the action was necessary to prevent the alleged diversion of public funds while an ongoing investigation continues.

In a statement issued on Wednesday by the Commission’s Head of Media and Publicity, Dele Oyewale, the anti-graft agency said the decision was based on intelligence gathered during investigations into the state government’s financial activities and was not connected to the forthcoming governorship election.

According to the EFCC, investigations into the Osun State Government commenced in March 2026 over the alleged fraudulent management of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee, involving about N11 billion.

The Commission disclosed that several officials of the state government, including the Accountant General, have already been questioned as part of the ongoing probe.

The EFCC explained that it initially had no intention of placing a restriction on the government’s account. However, it said investigators detected what they described as suspicious transfers of large sums of money from the account into several corporate entities beginning on August 2, 2026.

The agency stated that the rapid movement of funds prompted it to issue a Post No Debit order to prevent further transactions while investigations continue.

According to the Commission, the freeze was carried out under its preventive mandate to safeguard public resources from alleged misuse.

The EFCC stressed that it could not ignore financial activities it considered suspicious simply because Osun State is preparing for a governorship election.

The Commission maintained that its responsibility is to protect public funds and ensure accountability regardless of political developments.

It further disclosed that similar financial monitoring is ongoing in other states across the country, noting that several state governments are also under investigation to promote transparency and prudent management of public resources.

The anti-graft agency rejected claims that the account freeze was politically motivated, describing such allegations as false narratives aimed at discrediting its work.

The EFCC reiterated that it remains a non-partisan institution committed to protecting the interests of Nigerians and ensuring that public funds are not diverted or misappropriated.