The Economic and Financial Crimes Commission has defended its decision to freeze the bank accounts of the Osun State Government, saying the action was necessary to prevent the alleged diversion of public funds under investigation.
The anti-graft agency disclosed this in a statement on Wednesday, saying it had been investigating the Osun State Government since March 2026 over the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds and Federation Account Allocation Committee allocations.
According to the commission, the investigation had already led to the interrogation of some government officials, including the state’s Accountant General.
The EFCC said it only imposed a Post No Debit restriction on the accounts after detecting what it described as suspicious transfers of funds beginning on August 2.
It added that large sums were transferred to several corporate entities, prompting the agency to freeze the accounts to halt further movement of the funds.
“These ongoing investigations would not have warranted the placement of a Post No Debit order on the accounts but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026,” the commission said.
The commission maintained that the action was not influenced by the August 15 governorship election in Osun State, insisting it acted within its statutory mandate to safeguard public funds.
“The Commission cannot watch idly while a state government’s account is being pillaged. While we are fully aware of the impending governorship election in Osun State, we have a responsibility to act in defence of the sanctity of public funds,” the statement read.
The EFCC further disclosed that Osun was not the only state under investigation, noting that the finances of several state governments were being monitored to ensure accountability and transparency.
It also dismissed allegations of political bias, insisting that its operations were non-partisan and carried out solely in the public interest.
The agency urged Nigerians to disregard what it described as false narratives surrounding the freezing of the accounts.
The explanation came hours after Osun State Governor, Ademola Adeleke challenged EFCC Chairman Ola Olukoyede to publicly justify the action.
Adeleke described the freezing of the state’s accounts as illegal, insisting it was carried out without a court order. He subsequently directed the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada (SAN), to challenge the action before the Federal High Court.
Jimi-Bada argued that while the EFCC has the power to investigate government accounts, it cannot lawfully freeze a state government’s accounts without first obtaining an order of court.
The freezing of the accounts has intensified the face-off between the EFCC and the Osun State Government, barely 10 days before the state’s governorship election.
