ABUJA – The Economic and Financial Crimes Commission (EFCC) has given reasons for the freezing of Osun State Government bank account, citing and ongoing investigation into the alleged mismanagement of about N11 billion in public funds.
The anti-graft agency insisted that, the action was taken to safeguard state resources rather than influence the forthcoming governorship election.
In a statement issued on Wednesday by the Commission’s Head of Media and Publicity, Dele Oyewale, EFCC disclosed that investigations into the finances of the Osun State Government commenced in March 2026, focusing on the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
According to the agency, the investigation has involved several state officials, including the Accountant-General of the state, who has reportedly been questioned by investigators as part of efforts to unravel the alleged financial irregularities.
The Commission explained that it initially had no intention of placing a Post No Debit (PND) order on the government’s accounts until it observed what it described as “precipitate and unwarranted” movement of funds beginning August 2, 2026.
It alleged that substantial sums were being transferred from government accounts into various corporate entities considered suspicious, prompting the Commission to swiftly freeze the affected accounts to halt further transactions pending the conclusion of investigations.
Defending its action, the EFCC maintained that preventing the diversion of public funds falls squarely within its statutory mandate, stressing that it could not stand by while state resources were allegedly being siphoned.
The anti-corruption agency dismissed suggestions that the timing of the freeze was politically motivated because of the imminent Osun governorship election, insisting that its intervention was driven solely by the need to protect public funds.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said, adding that allowing electoral considerations to override its legal responsibilities would amount to a dereliction of duty.
The EFCC further disclosed that Osun is not the only state under scrutiny, revealing that the finances of several other states are also under investigation as part of its nationwide drive to promote transparency, accountability and prudent management of public resources.
Reaffirming its non-partisan posture, the Commission stated that its operations are guided by the law and the overriding interest of Nigerians, irrespective of political affiliations or electoral considerations.
The anti-graft agency therefore urged members of the public to disregard what it described as false narratives and deliberate attempts to discredit its activities, assuring Nigerians that it would continue to protect public assets and ensure accountability at all levels of government.
