The Economic and Financial Crimes Commission (EFCC) has stepped forward to explain why it froze the bank accounts of the Osun State Government. The agency said the move was to stop the alleged diversion of public funds, even though the state has a governorship election coming up on August 15.<\/p>\n
In a statement posted on its official X account on Wednesday, the EFCC said it has been investigating the state government since March 2026. The probe is over the alleged fraudulent handling of about N11 billion in Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC).<\/p>\n
According to the commission, some state officials \u2014 including the Accountant General \u2014 have already been questioned as part of the investigation.<\/p>\n
The EFCC said the investigation alone would not have led to the freeze. But it claimed it detected suspicious movement of funds from the government’s accounts beginning August 2.<\/p>\n
“The investigation 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,” the statement read. “The Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts.”<\/p>\n
Defending its decision, the commission said safeguarding public funds is part of its legal responsibility, and it could not ignore suspicious transactions just because of the upcoming election.<\/p>\n
“The Commission’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources,” it said. “The Commission cannot watch idly while a state government’s account is being pillaged.”<\/p>\n
The EFCC added that Osun is not the only state being monitored, saying it is keeping watch over the finances of several other state governments to ensure accountability. It also urged the public to ignore what it called “false narratives” about the action.<\/p>\n
The explanation came just hours after Osun State Governor Ademola Adeleke challenged EFCC Chairman Ola Olukoyede to publicly justify the freeze. Speaking to journalists in Osogbo, Adeleke called the action illegal, insisting it was done without a court order.<\/p>\n
“All I ask is for the EFCC chairman to explain to the good people of Osun State and to Nigerians in general why he froze Osun State Government Account, and show proof to support whatever reason he presents,” the governor said.<\/p>\n
Adeleke also directed the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada (SAN), to challenge the action at the Federal High Court in Osogbo. Jimi-Bada argued that while the EFCC has the power to investigate government accounts, it lacks the authority to freeze them without first getting a court order.<\/p>\n","protected":false},"excerpt":{"rendered":"
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