The Economic and Financial Crimes Commission (EFCC) has revealed why it froze the Osun State Government’s account.
In a statement issued on Wednesday, the EFCC stressed that the action was carried out without prejudice to the imminent governorship election in the state, slated for August 15, 2026.
The Commission disclosed that it has been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds, and Federation Account Allocation Committee (FAAC) allocations to the tune of ₦11 billion.
The EFCC noted that the investigation resulted in some officials of the state government, particularly the Accountant-General of the State, being interviewed by its investigators.
“These ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026.
“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,” the statement said.
The anti-graft agency explained that its preventive mandate is a public-oriented framework aimed at safeguarding public funds, assets and resources, stressing that the Commission cannot stand idly by while a state government’s account is being pillaged.
The EFCC acknowledged the impending governorship election in Osun State but emphasised that it has a responsibility to protect the integrity of the state’s funds.
The Commission argued that it would be uncharitable to use the upcoming election as an excuse to refrain from performing its legally assigned functions, adding that it is also monitoring the finances of other states.
“Many of these states are on the investigative radar of the Commission to ensure accountability and probity,” the EFCC said, reiterating that it is non-partisan and non-sectarian and always acts in the overall interest of Nigerians.
It maintained that the Osun State Government’s account was frozen to protect public funds from being looted.
The Commission urged members of the public to ignore what it described as false narratives and the deliberate demonisation of its work.
It added that the interests of all Nigerians are paramount and will continue to be protected by the agency.
