BREAKING: EFCC Freezes Osun Government Allocation Account 10 Days To Governorship Election

• The EFCC has ordered First Bank to place a post-no-debit restriction on the Osun State Government’s statutory allocation account as part of an ongoing investigation.

The Economic and Financial Crimes Commission (EFCC) has directed First Bank to place a post-no-debit restriction on the Osun State Government’s statutory allocation account as part of an ongoing investigation.

In a letter dated August 5, 2026, and signed by the Assistant Commander of the EFCC, Adenike Babalola, on behalf of the Director of Investigation, the anti-graft agency instructed the bank to halt all withdrawals from the account pending the conclusion of its probe.

The directive, referenced 3000/EFCC/ABJ/HQ/PFS/TA/OSUN/VOL.17/666, was addressed to the Managing Director of First Bank, with attention to the Chief Compliance Officer, and identified the affected account as the Osun State Government Statutory Allocation Account (No. 2017170947).

According to the EFCC, the action followed an earlier correspondence dated April 15, 2026, and was issued under the provisions of the EFCC (Establishment) Act, 2004, and the Money Laundering (Prevention and Prohibition) Act, 2022.

Sources within the commission disclosed that the investigation into the Osun State Government has been ongoing for more than a year, stressing that it is unrelated to the forthcoming governorship election.

The sources added that several senior officials of the state government had previously honoured EFCC invitations and provided statements as part of the investigation.

The latest directive came just hours after Governor Ademola Adeleke alleged that the EFCC was planning to freeze the state’s accounts and those of some top government officials ahead of the governorship election.

In a statement issued through the Commissioner for Information and Public Enlightenment, Kolapo Alimi, Adeleke argued that the anti-graft agency lacked the legal authority to freeze the accounts of a state government, describing the reported move as an attempt to disrupt his administration.

Efforts to obtain an official response from EFCC spokesperson Dele Oyewale were unsuccessful as of the time of filing this report.

The development is expected to further heighten political tensions in Osun State as preparations continue for the upcoming governorship election.