EFCC Defends Osun Account Freeze

The EFCC disclosed that several state officials, including the Accountant General, had been questioned as part of the ongoing investigation.

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

In a statement issued on Wednesday, the Commission said it had been investigating the Osun State Government since March 2026 over the alleged fraudulent management of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC) amounting to about N11 billion.

The EFCC disclosed that several state officials, including the Accountant General, had been questioned as part of the ongoing investigation.

According to the anti-graft agency, it decided to place a Post No Debit (PND) restriction on the state's account after detecting what it described as suspicious transfers of large sums of money into multiple corporate accounts beginning on August 2.

The Commission said the action was necessary to halt further movement of funds pending the conclusion of its investigation, stressing that it could not stand by while public resources were allegedly being diverted.

The EFCC maintained that although it was aware of the August 15 governorship election in Osun State, the timing of the poll would not prevent it from carrying out its statutory responsibility to protect public funds.

It also disclosed that the finances of several other states are under scrutiny as part of its broader efforts to promote accountability and transparency in the management of public resources.

Rejecting allegations of political bias, the Commission insisted it remains non-partisan and acts solely in the public interest.

The EFCC urged Nigerians to disregard what it described as false narratives over the account freeze, maintaining that the measure was taken strictly to safeguard state funds while investigations continue.