Why EFCC Froze Osun Gov’t Account – Spokesperson
The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds amid an ongoing investigation into suspected financial misconduct involving about ₦11 billion.
In a statement issued on Wednesday by its Head of Media and Publicity, Dele Oyewale, the anti-graft agency said it had 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).
According to the Commission, the investigation centres on approximately ₦11 billion in public funds, with several state officials, including the Accountant-General, already questioned by EFCC investigators.
The Commission said the investigation alone would not have necessitated the freezing of the government’s accounts but alleged that it detected what it described as “precipitate and unwarranted” transfers of funds from the accounts beginning on August 2, 2026.
It alleged that large sums were being moved into the accounts of various corporate entities considered suspicious, prompting the Commission to place a Post No Debit (PND) restriction on the affected accounts to halt further transactions.
The EFCC maintained that the move was in line with its statutory responsibility to safeguard public funds and prevent the alleged looting of government resources.
While acknowledging the proximity of the Osun State governorship election, the Commission insisted that the timing of the exercise was dictated solely by developments uncovered during its investigation and not by political considerations.
“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 statement said.
The anti-corruption agency further disclosed that it is monitoring the finances of several other state governments, noting that many states are currently under investigation as part of efforts to promote transparency, accountability and prudent management of public resources.
Reaffirming its neutrality, the EFCC said it remains a non-partisan institution committed to protecting public funds and acting in the overall interest of Nigerians.
The Commission urged the public to disregard what it described as false narratives and attempts to discredit its operations, insisting that the decision to freeze the Osun State Government’s accounts was solely aimed at preserving public funds pending the conclusion of its investigation.