Fidelia Soriwei, Abuja
The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze the Osun State Government’s bank account, citing an ongoing investigation into the alleged mismanagement of public funds amounting to N11 billion.
The clarification was contained in a statement issued on Wednesday by the EFCC’s Head of Media and Publicity, Dele Oyewale.
According to the commission, it has been investigating the Osun State Government since March 2026 over the alleged handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
The EFCC said several state officials, including the Accountant General, have been interviewed as part of the investigation.
It explained that the decision to place a ‘Post No Debit’ order on the account followed what it described as suspicious movements of funds from August 2, 2026.
According to the agency, investigators detected substantial transfers from government accounts into several corporate accounts and acted to stop further transactions.
The commission maintained that the action was taken in line with its mandate to safeguard public funds and prevent the possible diversion of state resources.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said.
While acknowledging the forthcoming governorship election in Osun State, the EFCC insisted that the electoral process would not prevent it from carrying out its statutory responsibilities.
“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,” it added.
The anti-graft agency further disclosed that it is monitoring the finances of other states as part of broader efforts to ensure accountability and transparency in the management of public funds.
The EFCC reaffirmed that it is non-partisan and committed to acting in the interest of Nigerians, urging the public to disregard what it described as false narratives surrounding the freezing of the account.
