EFCC Explains Freeze on Osun Government Account, Cites Alleged N11bn Fraud Probe.

The Economic and Financial Crimes Commission (EFCC) has explained its decision to freeze an Osun State Government bank account, stating that the action was taken to prevent the alleged diversion of public funds amid an ongoing investigation into the state’s finances.

In a statement issued on Wednesday, the anti-graft agency said it had 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) amounting to about N11 billion.

According to the Commission, several state officials, including the Accountant-General of the state, have been questioned as part of the investigation.

The EFCC said the decision to place a Post No Debit order on the account became necessary after investigators detected what it described as suspicious movements of funds beginning on August 2, 2026.

The Commission alleged that large sums of money were transferred from government accounts into various corporate accounts, prompting it to take immediate action to halt further transactions.

“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.

Defending the action, the EFCC maintained that it was acting within its preventive mandate to safeguard public funds and resources, insisting that the move was not influenced by the forthcoming governorship election in Osun State.

The anti-corruption agency stated that allowing concerns about the election to prevent it from carrying out its statutory responsibilities would amount to a dereliction of duty.

While acknowledging the political sensitivity of the period, the Commission stressed that protecting public funds remained its primary responsibility.

The EFCC further disclosed that it is monitoring the finances of several other states across the country as part of efforts to promote accountability and transparency in public service.

Reaffirming its non-partisan stance, the Commission urged Nigerians to disregard what it described as false narratives and attempts to politicise its activities.

“The Osun State Government account was frozen to save public funds from being looted,” the statement added.

The Commission assured Nigerians that it would continue to carry out its mandate without fear or favour, insisting that the protection of public resources remains in the overall interest of the nation.