The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze an Osun State Government bank account, saying the move was necessary to halt the alleged diversion of public funds during an ongoing investigation into suspected financial misconduct involving about ₦11 billion.
The clarification was contained in a statement issued on Wednesday by the commission’s Head of Media and Publicity, Dele Oyewale, hours after the Osun State Government accused the anti-graft agency of attempting to interfere with government operations ahead of the August 15 governorship election.
According to the EFCC, its investigation into the state’s management of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) allocations commenced in March.
The commission disclosed that the state’s Accountant-General and several other officials have already been questioned as part of the probe.
It explained that the decision to place the account on Post No Debit (PND) status followed what it described as suspicious transfers of large sums of money from government accounts into multiple corporate entities beginning on August 2.
“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 Commission noticed huge transfers of funds into different corporate entities and had to swiftly halt the trend by freezing the accounts from which such heavy funds are being moved.”
The EFCC maintained that the action was taken to safeguard public funds and dismissed suggestions that it was politically motivated because of the forthcoming governorship election.
“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.”
The anti-graft agency also stated that Osun is not the only state under investigation, noting that it is monitoring the finances of other state governments in line with its mandate to ensure accountability.
