By: Our Reporter..
The Economic and Financial Crimes Commission, EFCC, has frozen the bank account of the Osun State government over alleged fraudulent handling of public funds totaling N11 billion.
In a statement on Tuesday, the Commission said the action was a “preventive move” to safeguard public funds and was not connected to the forthcoming governorship election in the state.
According to the EFCC, it has been investigating the Osun State government since March 2026 over alleged fraudulent management of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee, FAAC, allocations.
The Commission noted that the Accountant General of the State and other officials have already been interviewed as part of the investigation.
The EFCC explained that it placed a Post No Debit order on the account after noticing “precipitate and unwarranted” movement of funds from state accounts to different suspicious accounts beginning August 2, 2026.
It said it observed huge transfers into various corporate entities and had to act swiftly to halt the trend.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said.
“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 EFCC stressed that its mandate is non-partisan and that it is also monitoring the finances of other states to ensure accountability and probity.
“The Osun State government account was frozen to save public funds from being looted,” the Commission added.
It urged the public to ignore what it described as “false narratives and deliberate demonization” of its work, saying the interest of Nigerians will always be protected.
