The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank accounts, saying the action was taken to prevent the alleged diversion of public funds and has no connection with the state’s forthcoming governorship election.
The anti-graft agency disclosed on Wednesday that it had been investigating the Osun State Government since March 2026 over the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds and Federation Account Allocation Committee (FAAC) allocations.
In a statement issued by its Head of Media and Publicity, Dele Oyewale, the Commission said several top state officials, including the Osun State Accountant General, had already been questioned as part of the ongoing probe.
The EFCC explained that it only decided to impose a Post No Debit (PND) order after investigators detected what it described as suspicious movements of funds from the state’s accounts beginning on August 2, 2026.
According to the Commission, large sums were allegedly transferred from government accounts into multiple corporate entities, prompting immediate intervention to stop further transactions.
“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 Commission insisted that the decision was driven solely by its statutory duty to protect public resources and should not be viewed as an attempt to influence the upcoming Osun governorship election.
“The Commission cannot watch idly while a state government’s account is being pillaged. 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.”
The EFCC further disclosed that it is monitoring the financial activities of several other states as part of wider efforts to promote transparency and accountability in the management of public funds across the country.
Reaffirming its neutrality, the anti-corruption agency maintained that its actions were guided strictly by the law and in the interest of Nigerians.
“The Osun State Government account was frozen to save public funds from being looted.”
The Commission also urged the public to disregard what it described as false narratives and attempts to politicise or discredit its operations, insisting that the investigation remains professional and evidence-driven.
