Why We Froze Osun State Government Account – EFCC

The Economic and Financial Crimes Commission (EFCC) has explained why it froze the bank accounts of the Osun State Government, saying the action was taken to prevent the alleged diversion of public funds.

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

According to the EFCC, some state officials, including the Accountant-General, have already been questioned as part of the investigation.

The Commission said it imposed a Post No Debit order after detecting what it described as “precipitate and unwarranted movement of funds” from the state’s accounts since August 2.

It added: “The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.”
Responding to concerns over the timing of the action ahead of the Osun governorship election, the EFCC insisted the move was not politically motivated.

“The Commission cannot watch idly while a state government’s account is being pillaged,” it said.

The anti-graft agency maintained that “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.”

The EFCC also disclosed that it was monitoring the finances of other states, stressing that “the Osun State government account was frozen to save public funds from being looted.”

https://x.com/i/status/2085082492617253073

It urged Nigerians to disregard what it described as “false narratives and deliberate demonisation” of its activities.