By Ghazali Ibrahim
The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank accounts, saying the action was taken to prevent the alleged diversion of public funds and was not connected to the state’s forthcoming governorship election.
In a statement issued on Wednesday, the anti-graft agency disclosed that it has been investigating the Osun State Government since March 2026 over the alleged mismanagement of about N11 billion from Ecology Funds, Intervention Funds and allocations from the Federal Account Allocation Committee (FAAC).
According to the EFCC, several state officials, including the Accountant General, have been questioned as part of the ongoing investigation.
The commission said it only placed a Post No Debit (PND) order on the accounts after discovering what it described as “suspicious” transfers of large sums of money to multiple corporate accounts beginning on August 2, 2026.
It explained that the move was aimed at preventing the alleged looting of public funds, insisting that it could not ignore the transactions despite the proximity of the Osun governorship election.
The EFCC maintained that its actions were in line with its mandate to protect public resources and stressed that the investigation was not politically motivated.
The commission also revealed that it is monitoring the finances of several other states as part of efforts to promote accountability and transparency in the management of public funds.
It urged Nigerians to disregard what it described as false narratives surrounding the account freeze, reaffirming its commitment to carrying out its duties impartially and in the public interest.
