Why Osun Government Account Was Frozen — EFCC

The Economic and Financial Crimes Commission has explained why it froze the Osun State Government bank account.

The anti-graft agency stated that the measure was taken to stop the suspected transfer of public funds under investigation. It noted that the move has no link to the upcoming governorship election.

In a statement released on Wednesday, the commission said it acted “without prejudice to the imminent governorship election in the state”.

The agency revealed it has been investigating the state since March 2026. The probe focuses on the alleged mishandling of Ecology Funds, Intervention Funds, and FAAC accounts totaling ₦11 billion.

According to the statement by Dele Oyewale, the Head of Media and Publicity, state officials have been questioned. This includes the state Accountant General.

“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,” the statement read.

The EFCC clarified that the investigation alone would not have triggered a Post-No-Debit order. Unauthorised fund movements since August 2 forced the action.

“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 explained.

The agency noticed massive transfers into corporate entities. It moved quickly to halt the trend.

“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,” it added.

The EFCC defended its choice as a duty to protect public resources. It emphasized its preventive mandate.

“The EFCC’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources,” the agency stated.

The commission stressed that it cannot ignore the pillaging of state resources. An impending election does not stop its legal duties.

“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,” it noted.

“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 continued.

The anti-graft body noted that Osun is not the only state under surveillance. Several other state finances are currently on its radar.

“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,” it said.

The commission maintained its non-partisan stance. It acted solely to protect public money.

“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,” it declared.

The public was urged to ignore misleading claims. The agency reaffirmed its commitment to protecting all Nigerians.

“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”.

Governor Ademola Adeleke had earlier faulted the action.

He claimed during a press briefing on Wednesday that freezing the account 10 days before the election was unconstitutional.