The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank account, insisting that the action was taken to prevent the alleged diversion of public funds and was not influenced by the forthcoming governorship election in the state.
In a statement on Thursday, the anti-graft agency disclosed that it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of about N11 billion drawn from Ecology Funds, Intervention Funds and the Federal Account Allocation Committee (FAAC).
According to the Commission, several top officials of the state government, including the Accountant-General, have been questioned as part of the ongoing investigation.
The EFCC explained that it only imposed a Post No Debit (PND) order on the state’s account after investigators detected what it described as “suspicious and hurried movement of funds” beginning on August 2, 2026.
It alleged that huge sums were transferred from the state’s accounts into various corporate entities considered suspicious, prompting the Commission to intervene by freezing the accounts to halt further transactions.
The anti-corruption agency maintained that the decision was purely a preventive measure aimed at protecting public resources from alleged looting.
“The Commission cannot stand by while a state’s account is being pillaged. Although we are aware of the impending governorship election in Osun State, we have a constitutional responsibility to safeguard public funds,” the EFCC stated.
The Commission dismissed claims that the action was politically motivated, stressing that its operations remain non-partisan and guided strictly by law.
It further revealed that Osun is not the only state under its watch, noting that the finances of several other state governments are also being scrutinised as part of efforts to promote transparency, accountability and prudent management of public resources.
The EFCC urged Nigerians to disregard what it described as false narratives and attempts to discredit its activities, reiterating its commitment to protecting public funds and ensuring that anyone found wanting faces the law.
The Commission assured the public that its actions were driven solely by the need to preserve the integrity of public finances and uphold accountability in governance.
