EFCC EXPLAINS OSUN ACCOUNT FREEZE, CITES SUSPICIOUS WITHDRAWALS, VOTE-BUYING CONCERNS
EFCC JUSTIFIES OSUN ACCOUNT FREEZE, ALLEGES DIVERSION OF PUBLIC FUNDS FOR VOTE BUYING.
The Economic and Financial Crimes Commission (EFCC) has explained that it froze the Osun State Government’s bank account after detecting what it described as unusually large transfers to suspicious corporate accounts.
The commission said the action was not connected to the August 15 governorship election but was taken as part of an ongoing investigation into the alleged mismanagement of about ₦11 billion in public funds.
EFCC spokesperson, Dele Oyewale, made this known in a statement issued on Wednesday titled “Why EFCC Froze Osun State Government Account.”
According to the commission, investigations into the state government began in March 2026 and focus on the handling of Ecology Funds, Intervention Funds and allocations received through the Federation Account Allocation Committee (FAAC).
“The Commission has been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and FAAC allocations amounting to about ₦11 billion,” the statement said.
The EFCC disclosed that some government officials, including the state’s Accountant-General, have already appeared before investigators for questioning. It, however, noted that the allegations are still under investigation and have not been proven in court.
The commission said the investigation alone would not have led to a restriction on the government’s account, but claimed it observed rapid movement of funds from the account into several corporate accounts beginning on August 2.
According to the EFCC, investigators detected large transfers into different business accounts and decided to place a Post No Debit order on the account to prevent further transactions.
“The Commission noticed huge transfers of funds into different corporate entities and had to quickly stop the movement by freezing the account,” it stated.
The anti-graft agency dismissed claims that the move was politically motivated or intended to disrupt the Osun governorship election.
It insisted that protecting public funds from possible diversion is part of its constitutional responsibility.
“The Commission cannot stand by while public funds are being looted. Although we are aware of the forthcoming governorship election in Osun State, we have a duty to protect public resources,” the EFCC said.
It added that the election could not be used as a reason to suspend its legal responsibilities.
The commission also revealed that Osun is not the only state under scrutiny, noting that several state governments are currently being monitored as part of its efforts to ensure accountability and prevent the misuse of public funds.
The EFCC maintained that its actions are non-partisan and taken solely in the interest of safeguarding public resources.
