By Abigail David
The Economic and Financial Crimes Commission (EFCC) says it froze the bank accounts of the Osun State Government to prevent the alleged diversion of public funds, stressing that the action was based on an ongoing investigation and not the forthcoming August 15 governorship election.
In a statement shared on its official X account, the anti-graft agency said it had been investigating the Osun State Government since March 2026 over the alleged handling of about N11 billion in Ecology Funds, Intervention Funds and Federation Account Allocation Committee (FAAC) allocations.
The EFCC said several state officials, including the Accountant General, had been questioned as part of the investigation. It added that while the probe alone did not warrant freezing the accounts, it detected what it described as suspicious transfers of funds beginning on August 2.
According to the commission, large sums were allegedly moved from government accounts into several corporate accounts, prompting it to place a Post No Debit order to prevent further transactions.
The EFCC maintained that it has a legal responsibility to safeguard public funds and said it could not ignore suspicious financial activities because of the impending governorship election. It also stated that other state governments are under financial scrutiny as part of its broader accountability efforts.
The commission urged Nigerians to disregard what it described as false narratives about the account freeze, insisting its actions were non-partisan and aimed at protecting public resources.
The statement followed criticism from Osun State Governor Ademola Adeleke, who described the account freeze as illegal and challenged EFCC Chairman Ola Olukoyede to publicly justify the decision. Adeleke also directed the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada (SAN), to challenge the action at the Federal High Court in Osogbo, arguing that the EFCC requires a court order before freezing government accounts.
