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EFCC PRESS STATEMENT
Why EFCC Froze Osun State Government Account
The Economic and Financial Crimes Commission (EFCC) is compelled to publicly address issues pertaining to its preventive moves in freezing the bank account of the Osun State Government, without prejudice to the imminent governorship election in the state.
The Commission has been investigating the Osun State Government since March 2026 regarding the alleged fraudulent handling of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) funds to the tune of ₦11,000,000,000 (Eleven Billion Naira only). To this end, some officials of the state government, especially the Accountant General of the State, have had interview sessions with investigators of the EFCC.
These ongoing investigations would not have warranted the placement of a Post No Debit order on the state's account but for the precipitate and unwarranted movement of funds from the accounts to different suspicious accounts since August 2, 2026. 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 large sums were being moved.
The EFCC's preventive mandate is a public-oriented framework for safeguarding public funds, assets, and resources. 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 state's funds. It would be uncharitable for the Commission to allow the excuse of an upcoming election to prevent it from performing its legally assigned functions.
It is equally important to state that the Commission is keeping watch over the finances of other states, just as it is doing with Osun State. Many of these states are on the Commission's investigative radar to ensure accountability and probity. The Commission has always maintained that it is non-partisan and non-sectarian, working solely in the overall interests of Nigerians. The Osun State Government account was frozen to protect public funds from being looted.
The public is enjoined to ignore false narratives and deliberate attempts to demonize the work of the EFCC. The interests of all Nigerians are paramount and will always be protected by the Commission.
Economic and Financial Crimes Commission (EFCC)