EFCC Explains Why It Froze Osun State Government Account

The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank account, insisting the action was taken to prevent the alleged diversion of public funds under investigation and had no connection with the state’s forthcoming governorship election.

In a statement issued on Wednesday by its Head of Media and Publicity, Dele Oyewale, the anti-graft agency said it was necessary to address public concerns and allegations suggesting the move was politically motivated.

According to the Commission, it has been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC) amounting to N11 billion.

“The Commission has been busy investigating the Osun state government since March, 2026, regarding alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC account to the tune of N11,000,000,000 (Eleven Billion Naira only),” the statement said.

The EFCC disclosed that several state officials, including the Accountant General, had already appeared before its investigators in connection with the probe.

“To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC,” it added.

The Commission explained that although the investigation had been ongoing for several months, it only imposed a Post-No-Debit restriction after observing what it described as suspicious movements of funds from the state’s accounts beginning on August 2.

“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026,” the Commission said.

“The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.”

The anti-corruption agency maintained that the decision was consistent with its statutory mandate to safeguard public resources and prevent financial crimes.

“The EFCC’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources. The Commission cannot watch idly while a state government’s account is being pillaged,” it said.

While acknowledging that the Osun governorship election is approaching, the Commission insisted the timing of the account freeze was solely influenced by developments uncovered during the investigation.

“While the Commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. It will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions.”

The EFCC also stressed that Osun was not the only state under investigation, noting that it is monitoring the finances of several state governments in line with its anti-corruption responsibilities.

“It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity,” the statement read.

Reaffirming its neutrality, the Commission said its operations are guided by the need to protect public resources rather than political considerations.

“The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”

The agency further urged Nigerians to disregard allegations questioning its motives.

“The public is enjoined to ignore false narratives and deliberate demonization of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the Commission,” the statement added.

The clarification follows accusations by the Osun State Government that the EFCC unlawfully froze one of its statutory allocation accounts just days before the August 15 governorship election. The state government has also announced plans to challenge the action in court.