By Feyisola Adeyeha
The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds under investigation.
In a statement issued on Wednesday by the Commission’s Head of Media and Publicity, Dele Oyewale, the anti-graft agency said it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC) amounting to about N11 billion.
According to the EFCC, several state officials, including the Accountant General, have been questioned as part of the ongoing investigation.
The Commission stated that it only imposed a Post No Debit (PND) order on the state’s accounts after detecting what it described as “precipitate and unwarranted” movement of funds beginning on August 2, 2026.
It alleged that investigators observed large transfers from government accounts to several corporate entities considered suspicious, prompting the Commission to freeze the accounts to prevent further transactions.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the EFCC said, adding that the decision was made in line with its mandate to safeguard public funds and protect government resources.
The anti-corruption agency also dismissed suggestions that the action was politically motivated because of the forthcoming Osun State governorship election. It maintained that the timing of the election would not prevent it from carrying out its statutory responsibilities.
The EFCC further disclosed that it is monitoring the finances of other state governments across the country, noting that several states are currently under investigation as part of efforts to promote accountability and transparency in the management of public funds.
Reaffirming its neutrality, the Commission insisted it remains non-partisan and committed to protecting the interests of Nigerians.
The agency urged members of the public to disregard what it described as false narratives and attempts to discredit its operations, stressing that the freezing of the Osun State Government’s accounts was aimed at safeguarding public resources while investigations continue.
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