Why EFCC froze Osun State Government’s account

The Economic and Financial Crimes Commission (EFCC) has explained why it placed a Post No Debit (PND) order on the bank account of the Osun State Government, saying the action was taken to protect public funds and was unrelated to the forthcoming governorship election in the state.

In a statement, the anti-graft agency said it was compelled to clarify the circumstances surrounding the freezing of the account, stressing that the action was part of its statutory mandate to safeguard public resources.

According to the EFCC, 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 ₦11 billion.

The Commission disclosed that several state government officials, including the Accountant-General of the state, had been questioned as part of the ongoing investigation.

The EFCC said the investigation alone would not have necessitated a Post No Debit order but alleged that it detected what it described as “precipitate and unwarranted” movement of funds from the state’s accounts into several suspicious accounts beginning on 2 August 2026.

According to the Commission, investigators observed large transfers of funds to various corporate entities and acted swiftly by freezing the accounts from which the transactions originated to prevent further movement of the funds.

The Commission said its preventive mandate is designed to protect public funds, assets, and resources, adding that it could not stand by while a state government’s account was allegedly being pillaged.

While acknowledging the proximity of the Osun State governorship election, the EFCC maintained that it had a legal responsibility to protect public funds and could not suspend its statutory functions because of the electoral process.

“It will be uncharitable for the Commission to allow the excuse of an upcoming election to fold its arms instead of performing its legally assigned functions,” the statement said.

The EFCC also disclosed that it is monitoring the finances of other states across the country, noting that several state governments are under investigation as part of its efforts to promote accountability and transparency in the management of public resources.

The Commission reiterated that it remains non-partisan and non-sectarian, insisting that its operations are guided solely by the public interest.

According to the agency, the Osun State Government’s account was frozen to prevent the alleged looting of public funds.

The EFCC urged members of the public to disregard what it described as false narratives and deliberate attempts to discredit its work, assuring Nigerians that it would continue to protect public resources in line with its statutory mandate.