EFCC Explains Freeze of Osun Government Accounts, Says Action Aimed at Protecting Public Funds:

The Economic and Financial Crimes Commission (EFCC) has clarified the circumstances surrounding its decision to place a restriction on the bank accounts of the Osun State Government, stating that the action is part of an ongoing investigation into the management of public funds and is not connected to the forthcoming governorship election in the state.

In a statement issued on Wednesday, the anti-graft agency disclosed that it commenced an investigation into the financial activities of the Osun State Government in March 2026, focusing on the alleged management of Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC) amounting to approximately ₦11 billion.

According to the Commission, the investigation has progressed significantly, with several key government officials, including the State Accountant-General, already invited and questioned as part of efforts to establish the facts surrounding the financial transactions under review.

The EFCC explained that it initially had no intention of restricting the state’s bank accounts. However, the agency said it was compelled to act after detecting what it described as suspicious financial movements beginning on August 2, 2026.

The Commission alleged that substantial amounts of money were transferred from government accounts into various corporate accounts considered suspicious, prompting it to issue a Post-No-Debit (PND) order to prevent further transactions while investigations continue.

According to the anti-corruption agency, the temporary restriction was necessary to safeguard public funds and prevent any further movement of money that could undermine the ongoing investigation.

“The Commission cannot stand by and watch while public funds are being diverted,” the EFCC stated, maintaining that the action falls within its constitutional and statutory responsibility to protect public resources and ensure accountability.

Responding to allegations that the restriction was politically motivated because of the forthcoming governorship election in Osun State, the Commission firmly rejected the claims, insisting that its operations remain strictly professional, independent, and non-partisan.

The EFCC reiterated that its mandate is to enforce the law without political consideration, stressing that its actions are guided solely by available evidence and the need to protect public interest.

The Commission further revealed that the Osun investigation is part of a broader nationwide accountability exercise, disclosing that the financial activities of several other state governments are also under investigation as part of ongoing efforts to strengthen transparency and prudent management of public resources across the country.

It urged Nigerians to disregard what it described as misleading narratives aimed at portraying the investigation as politically motivated, reaffirming its commitment to professionalism, transparency, and the rule of law.

The anti-graft agency maintained that the decision to freeze the Osun State Government’s accounts was taken strictly to prevent the alleged diversion of public funds while investigations are concluded.

As investigations continue, the EFCC assured the public that due process would be followed and that any further actions would be based on the outcome of the ongoing inquiry in accordance with the provisions of the law.