Politics
EFCC says Osun account freeze linked to alleged ₦11bn
THE Economic and Financial Crimes Commission (EFCC) has revealed that it froze Osun State Government’s bank accounts as part of an ongoing investigation into the alleged fraudulent handling of about ₦11 billion in public funds.
In a statement on Wednesday, August 5, the anti-graft agency said the investigation, which began in March 2026, centres on the alleged mismanagement of Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee (FAAC).
According to the commission, several officials of the Osun State Government, including the state’s Accountant General, have been questioned by investigators as part of the probe.
The EFCC said the decision to place a Post No Debit (PND) order on the state’s accounts was prompted by what it described as suspicious movements of funds detected from August 2.
It alleged that investigators observed large transfers from the government accounts into the accounts of various corporate entities, prompting the commission to freeze the accounts to halt further transactions.
“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,” the commission said.
The anti-corruption agency maintained that the action was taken under its mandate to safeguard public funds and prevent the diversion of government resources.
The EFCC’s reaction came amid allegations by Osun State Governor Ademola Adeleke that the commission planned to freeze the state’s accounts ahead of the August 15 governorship election.
Earlier on Wednesday, Adeleke, through the state’s Commissioner for Information and Public Enlightenment, Kolapo Alimi, alleged that the anti-graft agency had concluded plans to freeze the state’s accounts and those of top government officials in a move aimed at crippling governance before the poll.
The governor described the alleged action as “the height of lawlessness,” arguing that the EFCC lacked the legal authority to freeze the accounts of a state government. He also claimed the move was politically motivated and intended to paralyse government activities in the run-up to the poll.
Responding to the governor’s claims, however, the EFCC insisted that its action was unrelated to the forthcoming governorship election.
It stated that while it was aware of the impending poll, it could not suspend its statutory responsibilities because of the political calendar.
The ICIR also reports that the development comes amid heightened political tension in Osun ahead of the August 15 governorship election, with the ruling Accord Party and the opposition All Progressives Congress (APC) trading accusations over alleged violence, intimidation and abuse of state institutions.
Adeleke, who is seeking a second term, had appealed to President Bola Tinubu to ensure a free and peaceful election, warning against a repeat of the political violence that followed the disputed 1983 governorship election in the old Oyo State.
Mustapha Usman is an investigative journalist with the International Centre for Investigative Reporting. You can easily reach him via: musman@icirnigeria.com. He tweets @UsmanMustapha_M