ICYMI: EFCC explains freeze on Osun Government accounts

Crime Diary, Politics

ABUJA, Nigeria (NPA) — 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 amid an ongoing investigation into the state’s finances.

The anti-graft agency said the actiwas unrelated to the forthcoming Osun State governorship election, insisting that the decision was based solely on its statutory responsibility to protect public funds.

In a statement issued on Wednesday, the EFCC disclosed that it has been investigating the Osun State Government since March 2026 over the alleged fraudulent management of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC) amounting to about ₦11 billion.

According to the Commission, several state officials, including the Accountant-General of Osun State, have been questioned as part of the ongoing investigation.

The EFCC explained that the investigation alone did not warrant the freezing of the state’s accounts until investigators detected what it described as suspicious movements of funds beginning on August 2, 2026.

It alleged that substantial sums were transferred from government accounts into several corporate accounts, prompting the Commission to place a Post No Debit (PND) restriction on the affected accounts.

“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 were being moved,” the statement said.

The EFCC maintained that its intervention was in line with its preventive mandate to safeguard public assets and prevent the misappropriation of government funds.

“The Commission cannot watch idly while a state government’s account is being pillaged,” it stated.

Responding to claims that the action was politically motivated because of the impending governorship election in Osun State, the Commission said the timing of the election could not deter it from carrying out its constitutional responsibilities.

“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 will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms and fail to perform its legally assigned functions,” the agency said.

The anti-corruption agency further disclosed that Osun is not the only state currently under scrutiny, noting that several other state governments are also being monitored as part of efforts to promote accountability and transparency in the management of public resources.

It, however, did not disclose the identities of the other states under investigation.

The Commission reiterated that it remains non-partisan in the discharge of its responsibilities and would continue to investigate allegations of financial misconduct irrespective of political considerations.

According to the EFCC, the freezing of the Osun State Government’s accounts was solely intended to preserve public funds pending the conclusion of its investigation.

The Commission also urged Nigerians to disregard what it described as misinformation and attempts to politicise its enforcement actions.

“The interests of all Nigerians are greater and will always be protected by the Commission,” the statement added.