The Economic and Financial Crimes Commission (EFCC) has confirmed freezing the bank accounts of the Osun State Government, saying the move was aimed at preventing the alleged diversion of about N11 billion belonging to the state.
According to the anti-graft agency, the decision followed an ongoing investigation that began in March 2026 into the alleged mismanagement and diversion of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC). The EFCC disclosed that several state officials, including the Accountant General, have already been questioned in connection with the probe.
In a statement issued by its Head of Media and Publicity, Dele Oyewale, the Commission said it initially had no plans to freeze the government’s accounts but was compelled to act after detecting what it described as “precipitate and unwarranted” transfers of large sums from the state accounts into the accounts of several corporate entities beginning on August 2.
The EFCC said the Post No Debit order was a preventive measure designed to safeguard public funds from alleged misappropriation and insisted that the action had no connection with the forthcoming governorship election in the state.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement read, adding that the existence of an impending election would not deter it from carrying out its statutory responsibility to protect public resources.
The agency further revealed that it is monitoring the finances of several other state governments across the country, noting that a number of them are already under investigation as part of its efforts to promote transparency and accountability in the management of public funds.
Dismissing allegations of political bias, the EFCC maintained that it remains a non-partisan institution committed solely to enforcing the law and protecting the public interest. It urged Nigerians to disregard what it described as misleading narratives surrounding the account freeze, insisting that the action was taken to preserve the resources of the people of Osun State while investigations continue.
