The Economic and Financial Crimes Commission, EFCC, has defended its decision to freeze the Osun State Government’s bank accounts. The commission recently had its say via a statement by its Head of Media and Publicity, Dele Oyewale, and Nigerians have been reacting.
Revealing that it had been investigating the Osun State Government since March 2026 over the alleged fraudulent handling of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee, FAAC, EFCC disclosed that the action was aimed at stopping the alleged diversion of N11 billion in public funds.
Dele added that the account freeze has nothing to do with the state’s forthcoming governorship election.
His words, “The Commission cannot watch idly while a state government’s account is being pillaged.
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.
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. 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.”
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