Osun: ‘EFCC Chairman, Olukoyede Will Not Be Fired’ – Presidency Rejects Resignation Call

The Presidency has dismissed suggestions that the Chairman of the Economic and Financial Crimes Commission (EFCC), Ola Olukoyede, could be sacked over the freezing of the Osun State Government’s account a few days before the gubernatorial election.

Naijaonpoint reports that the calls for the removal of Olukoyede intensified on Friday as opposition parties described the action of the anti-graft agency as politically motivated, alleging that the commission had demonstrated partisanship ahead of the August 15 governorship election.

Recall that the EFCC had on Wednesday ordered a Post No Bill on the Osun State Government account domiciled with First Bank on the grounds of suspicious transactions.

The commission claimed that it had been investigating the account since March 2026 and that it had the power to freeze an account for 72 hours based on reasonable suspicion.

But President Bola Tinubu, on Thursday, directed the EFCC to unfreeze the account, describing the commission’s action as embarrassing.

Olukoyede Should Resign

In an interview with Punch, the National Chairman of the NNPP, Major Agbo, raised concerns over the perceived erosion of the EFCC’s independence, stressing that Tinubu ought to have allowed the commission to complete its investigation instead of intervening.

He said, “When I saw the President’s order directing that the account be unfrozen, I was surprised because, if I were him, I would have allowed the EFCC to do its job. It does not matter when it acted. The timing may have been wrong, but what is important is that it was carrying out its mandate.

“But asking the EFCC to unfreeze the account does not speak well of the commission’s independence. The implication is that it takes orders from the President.”

Asked whether he supported calls for Olukoyede’s resignation, Agbo replied, “Yes. Sadly, it has to happen.”

Also, the National Coordinator of the Obidient Movement Worldwide, Yunusa Tanko, advised Olukoyede to consider stepping down to protect his reputation.

Tanko asserted that Tinubu’s directive had created the impression that the EFCC chairman was acting under political influence.

He said, “Ultimately, if I were Olukoyede, to save my reputation and integrity, I would leave while the ovation is loudest. Otherwise, there will be more problems for him in the near future.

“The kind of response I got from the EFCC shows that Olukoyede tried to assert his independence. It seems the directive from a higher authority made him look like a puppet.

“So, the problem is actually with the person giving the directive, not the person executing it.” 

Olukoyede Still Has His Job

However, insiders in the Presidency who spoke with Punch said Tinubu’s frustration was directed at the timing and optics of the EFCC’s action rather than at Olukoyede’s leadership of the commission.

An official familiar with the matter said, “No, he still has his job. The fact that the President said he was embarrassed by the EFCC’s move does not mean he will be fired.” 

Another source also said he spoke directly with the EFCC chairman on Wednesday night, adding, “I spoke with him last night. He still has his job. Do you get fired every time you have a disagreement with your boss? No, it doesn’t mean he will be fired.

“Someone had to take the fall, and in this case, it is the EFCC chairman. That alone is not a basis for dismissal.”

Meanwhile, a fresh court document has revealed that the EFCC obtained an order freezing three bank accounts belonging to the Osun State Government over allegations of diversion of public funds and money laundering.

The order, granted by the Federal High Court in Abuja on Tuesday, August 5, 2026, authorised the anti-graft agency to restrict transactions on the accounts pending the conclusion of its investigation and any subsequent prosecution.

The development provides further details on the scope of the EFCC’s action, which has generated controversy ahead of the August 15 Osun governorship election.

According to the court document obtained by SaharaReporters, Justice M.G. Umar granted the ex parte application in Suit No. FHC/ABJ/CS/1750/2026.

The case was titled ‘In the Matter of an Application by the Executive Chairman of the EFCC.’