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EFCC Explains Why It Froze Osun Government Accounts, Denies Political Motive
The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the bank accounts of the Osun State Government, insisting the move was aimed at protecting public funds and had nothing to do with the state’s forthcoming governorship election.
In a statement released on Wednesday night by its Head of Media and Publicity, Dele Oyewale, the anti-graft agency said the action became necessary after investigators allegedly discovered suspicious movements of billions of naira from government accounts into several corporate accounts.
According to the Commission, it has been investigating the Osun State Government since March 2026 over the alleged mismanagement of about N11 billion received through Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
The EFCC disclosed that the state’s Accountant-General and other government officials have already appeared before investigators as part of the ongoing probe.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said.The Commission explained that the investigation alone would not have led to the freezing of the accounts. However, it claimed that investigators observed an unusual pattern of transactions beginning on August 2, 2026, prompting immediate intervention.
“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 EFCC stated.
The agency maintained that preventing the alleged diversion of public funds falls squarely within its legal responsibility and said the approaching governorship election could not stop it from carrying out its duties.
“While the Commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state. 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 statement added.
The EFCC also revealed that Osun is not the only state under investigation, noting that it is monitoring the financial activities of several other state governments as part of its wider efforts to ensure transparency and accountability in the management of public funds.
“It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity,” the agency said.Responding to claims that the action was politically motivated, the EFCC dismissed the allegations, insisting that its operations are guided strictly by the law and not by political interests.
“The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted,” the Commission maintained.
The anti-graft agency urged Nigerians to ignore what it described as misleading narratives surrounding the matter, assuring the public that it would continue to take every lawful step necessary to protect public resources and ensure accountability.
