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| Governor Ademola Adeleke |
The Economic and Financial Crimes Commission has explained why it froze the bank accounts of the Osun State Government, stating that the action was taken to prevent the alleged diversion of public resources despite the upcoming August 15 governorship election in the state.
In a statement published on its official X account on Wednesday, the anti-graft agency revealed that it has been investigating the Osun State Government since March 2026 over alleged fraudulent activities involving about N11bn in Ecology Funds, Intervention Funds, and allocations from the Federation Account Allocation Committee.
According to the commission, several state officials, including the Accountant General, have already been questioned by investigators as part of the ongoing probe.
The EFCC stated that the probe alone would not have prompted the freezing of the accounts, but noted that it detected suspicious financial transactions originating from government accounts starting from August 2.
The statement read, “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.”
It added, “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,”
Defending its decision, the anti-graft agency stated that it possesses a statutory duty to safeguard public assets and could not ignore suspicious financial movements due to the forthcoming governorship poll.
The statement noted, “The Commission’s preventive mandate is a public-inclined framework of safeguarding public funds, assets and resources.”
It added, “The Commission cannot watch idly while a state government’s account is being pillaged. 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.”
The commission further stated, “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,”
The EFCC also disclosed that Osun is not the only state under scrutiny, clarifying that it is actively monitoring the financial activities of various state governments.
It stated, “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.”
The agency added, “The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted,”
The commission advised members of the public to disregard misleading information concerning the enforcement action.
The statement read, “The public is enjoined to ignore false narratives and deliberate demonization of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the Commission,”
The clarification followed demands from the Osun State Governor, Ademola Adeleke, who urged the EFCC Chairman, Ola Olukoyede, to publicly justify the restriction placed on the accounts of the state.
Speaking with newsmen at the Government House in Osogbo on Wednesday, Governor Adeleke described the action as illegal and maintained that it was executed without a court order.
Governor Adeleke said, “All I ask is for the EFCC chairman to explain to the good people of Osun State and to Nigerians in general why he froze Osun State Government Account, and show proof to support whatever reason he presents,”
He also instructed the state Attorney General and Commissioner for Justice, Oluwole Jimi-Bada, SAN, to challenge the restriction at the Federal High Court in Osogbo.
Jimi-Bada argued that although the EFCC holds the statutory power to investigate government accounts, it lacks the legal authority to freeze them without first securing a court order, adding that the state government would seek judicial redress.
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