EFCC Explains Freeze on Osun Government Account, Cites N11bn Probe

The Economic and Financial Crimes Commission (EFCC) has explained that its decision to freeze the Osun State Government’s bank account was part of an ongoing investigation into the alleged mismanagement of about N11 billion in public funds.

In a statement issued on Wednesday, the anti-graft agency said it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).

The commission said the investigation centred on the alleged diversion of about N11 billion, adding that several state officials, including the Accountant-General, had been questioned as part of the probe.

According to the EFCC, the decision to place a Post No Debit (PND) order on the account was prompted by what it described as suspicious movements of funds from the state’s accounts into several corporate entities beginning on Aug. 2.

The commission said the transfers raised concerns and necessitated urgent action to prevent further movement of the funds while investigations continued.

“The ongoing investigations would not have warranted the freezing of the account but for the sudden and unwarranted transfer of huge sums into different suspicious accounts,” the statement said.

The EFCC maintained that its action was in line with its statutory responsibility to safeguard public funds and prevent financial crimes.

It dismissed suggestions that the move was politically motivated or connected to the forthcoming governorship election in Osun State, stressing that it had a legal duty to act whenever public funds appeared to be at risk.

The anti-corruption agency also disclosed that it was monitoring the finances of several other states as part of efforts to promote transparency and accountability in the management of public resources.

It reiterated its commitment to carrying out its mandate without political or sectional bias, insisting that the freezing of the Osun State Government’s account was solely aimed at protecting public funds.

The commission urged members of the public to disregard what it described as false narratives surrounding its actions, assuring Nigerians that it would continue to defend the integrity of public finances.