The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds under investigation.
In a statement issued on Wednesday by the Commission’s Head of Media and Publicity, Dele Oyewale, the EFCC said it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC) amounting to about ₦11 billion.
According to the anti-graft agency, several state government officials, including the Accountant General of the state, have been questioned as part of the ongoing investigation.
The Commission stated that it had initially not considered placing a Post No Debit order on the government’s accounts but changed its position after detecting what it described as suspicious movements of funds beginning on August 2, 2026.
It alleged that large sums were being transferred from the state’s accounts into various corporate entities, prompting the agency to freeze the accounts to halt the transactions while investigations continue.
The EFCC maintained that the action was in line with its statutory responsibility to safeguard public funds and prevent financial crimes.
The Commission also dismissed suggestions that the timing of the account freeze was linked to the forthcoming Osun State governorship election, insisting that its actions were based solely on the need to protect public resources.
While acknowledging the proximity of the election, the EFCC said it could not suspend its legal responsibilities because of the political calendar.
The anti-corruption agency further disclosed that it is monitoring the finances of several other state governments across the country as part of broader efforts to promote accountability and transparency in the management of public funds.
Reiterating its claim of political neutrality, the Commission said its operations are guided by the public interest and not by partisan considerations.
The EFCC urged Nigerians to disregard what it described as false narratives and attempts to discredit its work, stressing that the freeze on the Osun State Government’s accounts was intended to protect public funds pending the outcome of the investigation. #Securitynewsalert.com
