The Economic and Financial Crimes Commission (EFCC) has publicly explained its decision to freeze the bank account of the Osun State Government.
According to the press release issued by the Commission, it has been investigating the state government since March 2026 over alleged fraudulent handling of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) funds amounting to N11 billion.
Some officials of the Osun State Government, including the Accountant General, have already been interviewed by EFCC investigators as part of the ongoing probe.
The Commission stated that the investigation alone would not have necessitated placing a Post No Debit order on the account. However, it was compelled to act after noticing large and sudden transfers of funds from the state government’s accounts into various corporate entities starting from August 2, 2026.
EFCC described the freezing of the account as a preventive measure aimed at safeguarding public funds. The Commission emphasised that it could not remain idle while heavy amounts of money were being moved under suspicious circumstances.
Addressing concerns about the timing of the action ahead of the Osun State governorship election, the EFCC insisted that protecting public funds remains its priority and that the approaching election cannot be used as an excuse to abandon its statutory responsibilities.
The Commission further noted that it is monitoring the finances of several other states and remains non-partisan and non-sectarian in the discharge of its duties. It urged the public to disregard false narratives aimed at discrediting its work.
The EFCC reaffirmed its commitment to protecting the interests of all Nigerians and ensuring accountability in the management of public resources.
