Questions as EFCC says its freeze on Osun government accounts was preventive measure
By KEMI KASUMU
Meanwhile, critics of the Commission questioned the timing and consistency of the action. One commentator argued that similar measures were not taken against other state governments especially of the All Progressives Congress (APC) facing allegations of financial misconduct, including the administration of former Kogi State Governor Yahaya Bello, and called for equal enforcement of anti-corruption laws across party lines.
The Economic and Financial Crimes Commission (EFCC) has explained that its decision to freeze the Osun State Government’s bank accounts was aimed at preventing the alleged diversion of public funds amid an ongoing investigation into the state’s finances.
In a statement posted on its official X account on Wednesday August 5, 2026, the anti-graft agency said it was compelled to clarify the circumstances surrounding its placement of a “Post No Debit” order on the accounts, stressing that the action was taken in line with its statutory preventive mandate and was not intended to influence the forthcoming governorship election in the state.
According to the EFCC, it has been investigating the Osun State Government since March 2026 over the alleged mismanagement of about N11 billion from Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
The Commission said several state officials, including the Accountant General, had been questioned as part of the investigation.
The EFCC stated that while the ongoing probe alone would not ordinarily have warranted freezing the accounts, investigators detected what it described as suspicious movements of large sums of money from the state’s accounts into various corporate entities beginning on 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 statement said.
The anti-graft agency maintained that its preventive mandate requires it to safeguard public funds and that it could not “watch idly while a state government’s account is being pillaged.”
It added that although it was aware of the impending governorship election in Osun State, the election could not prevent it from carrying out its legal responsibilities.
The EFCC further stated that it is monitoring the finances of other states across the country, noting that several are currently under investigation to ensure accountability and transparency in the management of public resources.
Reaffirming its neutrality, the Commission insisted it is non-partisan and acts solely in the interest of Nigerians.
“The Osun State Government account was frozen to save public funds from being looted,” the statement said, urging Nigerians to disregard what it described as false narratives and attempts to discredit its operations.
Meanwhile, critics of the Commission questioned the timing and consistency of the action. One commentator argued that similar measures were not taken against other state governments especially of the All Progressives Congress (APC) facing allegations of financial misconduct, including the administration of former Kogi State Governor Yahaya Bello, and called for equal enforcement of anti-corruption laws across party lines.
