The Economic and Financial Crimes Commission (EFCC) has defended its decision to freeze the Osun State Government’s bank account, insisting the action was taken to protect public funds and was not influenced by the forthcoming governorship election.
According to the anti-graft agency, it has been investigating the Osun State Government since March 2026 over the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) funds. The EFCC said several state officials, including the Accountant General, have been questioned as part of the investigation.
The Commission explained that the account was only frozen after investigators noticed large transfers of funds from government accounts into multiple corporate accounts beginning on August 2, 2026. It said the move was necessary to prevent further suspicious transactions while investigations continue.
The EFCC maintained that safeguarding public funds is part of its statutory responsibility and that it could not ignore activities it considered potentially harmful to the state’s finances. It also stressed that the timing of the investigation has no connection with the upcoming governorship election in Osun State.
The Commission further disclosed that it is monitoring the finances of several other states as part of its broader efforts to promote accountability and transparency in public financial management.
Reaffirming its neutrality, the EFCC urged Nigerians to disregard what it described as misleading narratives, insisting that its actions are guided solely by its mandate to protect public resources and uphold the law.
