Economic and Financial Crimes Commission, EFCC says it froze the bank accounts of the Osun State Government to prevent what it describes as suspicious movement of public funds amid an ongoing investigation into alleged financial misconduct.
In a statement issued by the Head of Media and Publicity, Dele Oyewale, the Commission said it has 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, involving about N11 billion.
According to the EFCC, several state officials, including the Accountant-General, have been questioned as part of the investigation.
The Commission said it decided to place a “Post No Debit” order on the state’s accounts after detecting what it describes as “precipitate and unwarranted” transfers of large sums of money to multiple corporate accounts beginning on August 2, 2026.
The anti-graft agency maintained that the action was taken as a preventive measure to safeguard public funds and was not influenced by the forthcoming governorship election.
The EFCC stressed that its statutory responsibility is to protect public resources and ensure accountability, adding that it could not ignore what it believes were suspicious transactions involving state funds.
The Commission also disclosed that it is monitoring the finances of several other states as part of its broader efforts to promote transparency and probity in public finance.
While rejecting claims that its actions are politically motivated, the EFCC urged Nigerians to disregard what it described as false narratives and attempts to discredit the Commission, insisting that its operations remain non-partisan and are carried out in the interest of the public.
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Editor: Terverr Tyav
