Isaac Samuel
The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze the bank accounts of the Osun State Government, insisting the action was taken to prevent the alleged diversion of public funds and was not influenced by the forthcoming governorship election in the state.
The anti-graft agency said it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of ₦11 billion in Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
In a statement issued on Wednesday by its Head of Media and Publicity, Dele Oyewale, the commission said several officials of the state government, including the Accountant-General, had been questioned as part of the ongoing investigation.
According to the EFCC, the investigation alone would not have warranted the placement of a Post No Debit (PND) order on the state’s accounts.
However, it said investigators detected what it described as suspicious movement of funds from the accounts into several corporate entities beginning from August 2, prompting the commission to freeze the accounts to prevent further transfers.
“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,” the statement read.
The commission maintained that the freezing order was a preventive measure aimed at protecting public funds from being misappropriated.
It said that while it was fully aware of the impending governorship election in Osun State, it could not neglect its statutory responsibility because of the political calendar.
“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 EFCC said.
The anti-graft agency added that Osun was not the only state under investigation, noting that several other state governments were also being monitored to ensure accountability in the management of public resources.
“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 stated.
The EFCC also dismissed suggestions that the action was politically motivated, insisting it remained a non-partisan institution committed to safeguarding public resources.
“The Osun State Government account was frozen to save public funds from being looted,” it said, urging Nigerians to disregard what it described as false narratives aimed at discrediting the commission.
The development comes amid heightened political tension ahead of the August 15 governorship election in Osun State, where Governor Ademola Adeleke of the Peoples Democratic Party (PDP) is seeking a second term.
Earlier on Wednesday, Adeleke alleged that the EFCC was plotting to freeze the state’s bank accounts and those of key government officials in a bid to cripple his administration before the election.
He described the alleged move as politically motivated and an abuse of power.
Hours after the anti-graft agency froze the accounts, the governor directed the state’s Attorney-General and Commissioner for Justice to challenge the action in court, insisting the EFCC lacked the legal authority to freeze a state government’s accounts without due process.
The latest action by the commission also follows months of political exchanges over the management of Osun’s finances.
In June, the All Progressives Congress (APC) governorship campaign organisation called on the EFCC to investigate and freeze accounts allegedly linked to a purported N13.7 billion ghost workers’ salary scheme, claiming the funds could be used for vote-buying ahead of the election.
The Osun State Government dismissed the allegation as false and politically motivated.
Meanwhile, the African Democratic Congress (ADC) and the Accord Party condemned the freezing of the state’s accounts, accusing the EFCC of using federal institutions to influence the outcome of the August 15 governorship election.
Both parties described the action as an attempt to undermine the electoral process and called for its reversal.
The EFCC, however, maintains that its action is solely in line with its statutory responsibility to protect public funds and has no connection with the forthcoming governorship poll.
