The Economic and Financial Crimes Commission (EFCC) has dismissed claims that it froze the Osun State Government’s bank account because of the forthcoming governorship election, insisting the action was taken to safeguard public funds allegedly under investigation.
In a statement issued on Wednesday by its Head of Media and Publicity, Dele Oyewale, the Commission said the restriction on the account was part of an ongoing investigation into the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) allocations.
According to the EFCC, the probe began in March 2026 and has involved several state officials, including the Accountant-General of Osun State, who has been questioned by investigators.
The Commission explained that it had no intention of placing a Post-No-Debit order on the account until it detected what it described as suspicious transfers of large sums of money to several corporate accounts beginning on August 2, 2026.
It said the movement of the funds raised concerns, prompting immediate action to stop further transactions while investigations continue.
“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,” the statement read.
The anti-graft agency stressed that its intervention was based solely on its statutory responsibility to protect public resources and had no political motive.
“It will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms to perform its legally assigned functions,” it added.
The EFCC also noted that Osun is not the only state under scrutiny, revealing that the finances of several other states are being monitored as part of efforts to promote accountability and transparency in the management of public funds.
Reaffirming its neutrality, the Commission maintained that it operates without political or sectional bias and remains committed to protecting the interests of Nigerians.
“The Osun State Government account was frozen to save public funds from being looted,” the agency stated, urging the public to disregard what it described as false narratives and attempts to discredit its operations.
The response followed allegations by Osun State Governor Ademola Adeleke, who claimed earlier on Wednesday that the freezing of the state’s account by the EFCC, just days before the governorship election, was unconstitutional and politically motivated.
