EFCC confirms freezing of Osun Government accounts over alleged ₦11bn funds mismanagement
The Economic and Financial Crimes Commission (EFCC) has confirmed that it placed a restriction on the accounts of the Osun State Government over alleged fraudulent handling of about ₦11 billion belonging to the state.
The anti-graft agency said the action followed an ongoing investigation that began in March 2026 into the alleged diversion and mismanagement of Ecology Funds, intervention funds and allocations received from the Federation Account Allocation Committee (FAAC).
In a statement signed by its Head of Media and Publicity, Dele Oyewale, the EFCC said several government officials, including the state Accountant General, had already appeared before investigators as part of the probe.
The commission explained that it did not initially intend to freeze the state’s accounts but was prompted to act after detecting what it described as “precipitate and unwarranted” transfers of substantial amounts from government accounts to various corporate entities from 2 August.
The EFCC said the Post No Debit order placed on the accounts was a precautionary measure designed to prevent the possible movement or misuse of public funds while investigations continue.
It dismissed claims that the action was linked to the forthcoming Osun governorship election, insisting that its mandate to protect public resources remained unaffected by political developments.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the agency said, adding that ongoing electoral activities would not stop it from carrying out its constitutional responsibilities.
The EFCC further revealed that it was monitoring the finances of other state governments across the country, with some already under investigation as part of efforts to improve accountability and transparency in public financial management.
Responding to allegations of political interference, the commission maintained that it remained independent and non-partisan, saying its decisions were guided solely by the need to protect public funds.
It urged members of the public to disregard what it described as misleading claims about the account restrictions, stressing that the measure was taken in the interest of Osun State residents pending the outcome of the investigation.
