‘Why We Froze Osun Govt Accounts’ — EFCC

• The EFCC says it froze Osun State Government accounts to stop the alleged diversion of public funds, revealing it is investigating the state over the handling of about N11 billion in public funds.

The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the bank accounts of the Osun State Government, saying the move was aimed at preventing the alleged diversion of public funds and was not connected to the state’s forthcoming governorship election.

In a statement posted on its official X account on Wednesday, the anti-graft agency disclosed that it has been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of about N11 billion in Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).

According to the commission, several government officials, including the Osun State Accountant General, have already been questioned as part of the ongoing probe.

The EFCC explained that while the investigation itself would not have resulted in the freezing of the accounts, it detected what it described as suspicious movements of funds beginning on August 2.

“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026,” the commission said.

It added, “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.”

Defending its action, the anti-graft agency insisted it had a legal responsibility to safeguard public resources and could not ignore suspicious financial transactions because of the August 15 governorship election.

“The Commission’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.

“The Commission cannot watch idly while a state government’s account is being pillaged. 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 to perform its legally-assigned functions,” the statement added.

The EFCC also revealed that Osun is not the only state under investigation, noting that it is monitoring the finances of several state governments to ensure accountability and transparency.

“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 said.

The commission maintained that it remained non-partisan and acted solely in the interest of protecting public funds.

“The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.”

The agency also urged Nigerians to disregard what it described as false narratives surrounding the account freeze.

The explanation comes hours after Osun State Governor Ademola Adeleke challenged EFCC Chairman Ola Olukoyede to publicly justify the decision, describing the freezing of the state’s accounts as illegal and insisting it was carried out without a court order.

Adeleke has directed the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada (SAN), to challenge the action at the Federal High Court in Osogbo.