The Economic and Financial Crimes Commission (EFCC) has explained that it froze the Osun State Government’s bank accounts to prevent the alleged diversion of public funds amid preparations for the state’s August 15 governorship election.
In a statement shared on its official X account on Wednesday, the anti-graft agency said it had been investigating the Osun State Government since March 2026 over alleged financial irregularities involving about N11bn in Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC).
The commission said some government officials, including the Accountant General of the state, had been invited for questioning as part of the ongoing probe.
However, the EFCC noted that the investigation alone did not warrant freezing the accounts, adding that it took action after allegedly detecting suspicious fund transfers from the state government’s accounts beginning August 2.
According to the commission, large sums of money were transferred to various corporate entities, prompting it to place a Post No Debit restriction on the affected accounts to stop further movement of funds.
“The ongoing investigations of the state government would not have warranted any placement of Post No Debit order on its account but for the unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026,” the EFCC stated.
The agency defended its action, saying it had a responsibility to protect public resources and could not ignore suspicious transactions because of the upcoming governorship election.
It said its preventive mandate was designed to safeguard public funds, assets, and resources, adding that allowing the alleged movement of funds to continue would amount to neglecting its legal duties.
The EFCC also disclosed that Osun was not the only state under its watch, stating that it was monitoring the finances of several state governments as part of efforts to promote accountability.
The commission maintained that it was non-partisan and acted only in the interest of Nigerians, adding that the accounts were frozen to prevent possible misuse of public funds.
It urged members of the public to disregard what it described as misleading claims and attempts to discredit its activities.
The EFCC’s statement followed criticism from Osun State Governor Ademola Adeleke, who demanded an explanation from EFCC Chairman Ola Olukoyede over the decision to freeze the accounts.
Speaking with journalists at the Government House in Osogbo on Wednesday, Adeleke described the move as unlawful, arguing that it was carried out without a court order.
The governor asked the EFCC chairman to publicly justify the action and provide evidence supporting the decision.
He also directed the state Attorney General and Commissioner for Justice, Oluwole Jimi-Bada (SAN), to challenge the account freeze at the Federal High Court in Osogbo.
Jimi-Bada argued that although the EFCC had the authority to investigate government finances, it did not have the power to freeze the accounts without first obtaining a court order. He said the state government would pursue legal action.
