EFCC: Why We Froze Osun Govt Account 10 Days To Election

The Economic and Financial Crimes Commission, EFCC, has explained that it froze the Osun State Government account to prevent alleged diversion of public funds, insisting the action had nothing to do with the August 15 governorship election.

In a statement on Wednesday, the Commission said it has been investigating the state government since March 2026 over alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC, allocations to the tune of N11 billion.

*“Suspicious Transfers Triggered The Freeze”*

According to the EFCC, the investigation alone would not have warranted a “Post No Debit” order on the state’s account.

“These ongoing investigations 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, 2026,” the statement said.

The Commission said it noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such funds were being moved.

Some officials of the state government, especially the Accountant General of the State, have had interview sessions with EFCC investigators, it added.

*“We Cannot Watch Public Funds Being Pillaged”*

The EFCC said its preventive mandate is aimed at safeguarding public funds, assets and resources.

“The Commission cannot watch idly while a state government’s account is being pillaged. While the Commission is fully aware of the impending governorship election in Osun State, it has a responsibility to act in defence of the sanctity of the funds of the state,” it stated.

“It will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms and not perform its legally-assigned functions.”

The Commission said it is also monitoring the finances of other states.

“It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity,” it said.

The EFCC reiterated that it is non-partisan and non-sectarian.

“The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted,” the statement added.

The Commission urged the public to “ignore false narratives and deliberate demonization of the works of the EFCC,” saying the interests of all Nigerians “are greater and will always be protected by the Commission.”