The Economic and Financial Crimes Commission (EFCC) has defended its freezing of Osun State government account, saying the action was meant to safeguard public funds from being looted, alleging money transfers were made to suspicious accounts.
“The Osun State government account was frozen to save public funds from being looted,” the anti-graft agency declared in a statement issued by its spokesperson, Dele Oyewale, on Wednesday.
The clarification came hours after the anti-graft agency placed a “Post-No-Debit” on the state’s Statutory Allocation account barely 10 days to the August 15 governorship election.
The EFCC explained that it had been busy investigating the state government since March, 2026 over alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC account to the tune of N11, 000,000, 000(Eleven Billion Naira only).
“To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC,” it added.
According to the EFCC, the freezing was undertaken for the 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’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources. The Commission cannot watch idly while a state government’s account is being pillaged,” it explained.
The commission further said that while it was fully aware of the impending governorship election in the state, it had a responsibility to act in defence of the sanctity of the funds of the state.
“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 is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity. The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians,” it stated.
The anti-graft agency urged the public to ignore false narratives and deliberate demonisation of the works of its work.
Meanwhile, Governor Ademola Adeleke condemned the development as undemocratic and accused EFCC of trampling on the state’s constitutional rights.
The governor also directed the state attorney general to challenge the anti-graft agency’s action in court.