The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank account, saying the action was taken to prevent the alleged movement of public funds under investigation and was not linked to the forthcoming governorship election.
In a statement on Wednesday, the anti-graft agency said it was issuing the clarification “without prejudice to the imminent governorship election in the state.”
According to the EFCC, it has been investigating the Osun State Government since March 2026 over alleged financial irregularities involving Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) allocations totalling ₦11 billion.
The statement signed by the agency’s Head of Media and Publicity, Dele Oyewale, said some state government officials, including the Accountant General, had appeared before investigators as part of the probe.
The EFCC said the investigation alone would not have resulted in a Post-No-Debit order being placed on the account, but that the decision became necessary after it allegedly detected “precipitate and unwarranted” transfers of funds to suspicious accounts from August 2, 2026.
“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 said.
The commission said the move was part of its preventive mandate to safeguard public resources and ensure accountability.
“The EFCC 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 added.
The agency maintained that it was non-partisan and said similar financial monitoring efforts were ongoing in other states.
“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 urged members of the public to disregard what it described as “false narratives” about its actions, insisting that the decision was taken to protect public funds.
The development followed allegations by Osun State Governor Ademola Adeleke that the state government’s account with a commercial bank was frozen 10 days before the governorship election, describing the action as unconstitutional.
