EFCC says it froze the Osun State Government’s bank accounts to prevent the alleged diversion of N11 billion in public funds, insisting the action is part of an ongoing corruption investigation and is unrelated to the forthcoming governorship election.
ABUJA, Nigeria — The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of N11 billion in public funds under investigation.
The Commission’s spokesperson, Dele Oyewale, disclosed this in a statement issued on Wednesday in Abuja, stressing that the action was unrelated to the forthcoming governorship election in Osun State.
According to Oyewale, the EFCC has been investigating the Osun State Government since March 2026 over the alleged fraudulent management of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) allocations amounting to about N11 billion.
He said the investigation has involved several state government officials, including the Accountant General of the State, who has already been questioned by EFCC investigators.
Oyewale explained that the Commission initially had no intention of placing a Post No Debit order on the state’s accounts but decided to act after detecting what it described as suspicious movements of funds.
“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,” he said.
The EFCC spokesperson alleged that investigators observed substantial transfers of public funds into various corporate accounts, prompting the Commission to freeze the affected accounts to prevent further transactions.
He said the action was in line with the EFCC’s preventive mandate to safeguard public resources and prevent the alleged looting of government funds.
“The Commission cannot watch idly while a state government’s account is being pillaged,” Oyewale stated.
Responding to claims that the action was politically motivated, he maintained that although the Commission was aware of the impending governorship election in Osun State, it could not suspend its constitutional responsibilities because of the electoral timetable.
“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,” he added.
Oyewale further disclosed that the EFCC is monitoring the financial activities of several other state governments, noting that many are currently under investigation as part of the agency’s efforts to promote accountability and transparency.
He reiterated that the anti-graft agency remains non-partisan and operates solely in the public interest.
According to him, the freezing of the Osun State Government’s accounts was intended to protect public funds and not to interfere in the state’s political process.
The EFCC urged Nigerians to disregard what it described as false narratives aimed at discrediting the Commission, insisting that it remains committed to protecting public resources and enforcing accountability in accordance with the law.
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