Osun Government Accounts Was Frozen Over Suspicious Movement of ₦11 Billion in Public Funds — EFCC Explains

The Economic and Financial Crimes Commission (EFCC) has explained that its decision to freeze the Osun State Government’s bank accounts was part of an ongoing investigation into the alleged diversion of about ₦11 billion in public funds and was not influenced by the upcoming governorship election.

According to the anti-graft agency, it has been investigating the Osun State Government since March 2026 over the alleged fr@udulent handling of Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee (FAAC). As part of the probe, several state officials, including the Accountant General, have been questioned by investigators.

The EFCC said it initially had no intention of placing a Post No Debit (PND) order on the accounts. However, it claimed that from August 2, 2026, investigators noticed large sums of money being transferred from the state’s accounts into several corporate accounts considered suspicious.

The commission said it acted quickly to freeze the accounts to stop further movement of funds and protect public resources from alleged looting.

While acknowledging that Osun is preparing for a governorship election, the EFCC insisted that the election would not stop it from carrying out its legal responsibility to safeguard public funds. It maintained that allowing the transactions to continue because of the election would have been irresponsible.

The agency also disclosed that it is monitoring the finances of several other states as part of efforts to ensure transparency, accountability, and prudent management of public funds.

The EFCC urged Nigerians to disregard what it described as false narratives and attempts to politicise its actions, insisting that the freezing of the accounts was solely aimed at protecting the interests of the people of Osun State.

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