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 busy investigating the Osun state government since March, 2026, regarding alleged fraudulent handling of Ecology Funds, Intervention Funds and Federal Account Allocation Committee, FAAC account to the tune of N11, 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 of the state government would not have warranted any placement of Post No Debit order on its 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 heavy funds are being moved.
The EFCC’s preventive mandate is a public-inclined framework of 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 funds of the state. It will be uncharitable for the Commission to allow an excuse of an upcoming election to fold its arms to perform its legally-assigned functions.
It is equally needful to state that the Commission is keeping watch over the finances of other states like Osun State. Many of these states are on the investigative radar of the Commission to ensure accountability and probity. The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians. The Osun State government account was frozen to save public funds from being looted.
The public is enjoined to ignore false narratives and deliberate demonization of the works of the EFCC. The interests of all Nigerians are greater and will always be protected by the Commission.
Dele Oyewale
Head, Media & Publicity
August 5, 2026
@Kene_Nnewi I understand it is people's investment and we may not tell people how to use their funds... Nevertheless with the proliferation of these hotels, we're not seeing commensurate tourism/recreational activities that matches at the moment. Maybe they're seeing what we don't
@Kene_Nnewi During my time in Anambra the number of hotels in Awka that I saw being built in 6-7 to be modest is over 20 at different locations. And I wonder what's the fuss with hotels... Just at the stretch Abakilike street to Iyiagu Estate alone you can count 6+ hotels
This is totally uncalled for, un-professional and misleading.
Passengers have complained of this and the management is seems not to tell us why this discrepancy?
@ABCTransportPlc Please what's a 2+2, Sprinter Service?
Why do you say all your buses are sprinters when you have a Toyota Hiace Hummer Bus? Why are you misleading us?
I'm currently in your Abuja Park heading to Port Harcourt and we're stranded here!
For further clarification, it is common practice all over the world that a repentant offender is made to preach publicly against the exact conduct from which he has repented. It is akin to Community Service. It is not paid for and it is voluntary service.
Unfortunately, in Nigeria, some would assume that once you hear the word ‘Ambassador’ it is a big position that comes with the perquisites of office. No, it is not. It is for free. It is not the first time it is happening in Nigeria and it will not be the last . Examples abound of such roles given to repentant persons by previous governments in Nigeria.
Whilst the Aviation agencies are considering using KWAM 1 for such a role, in my discussion last night with the Airline Operators of Nigeria (AON), they are also looking at the option of using Ms. Comfort Emmanson, who has also shown remorse, as their own Ambassador for good passenger conduct. It is left for the AON to work out those details since she has been actually released from prison custody today based on my earlier statement.
Whilst the usual suspects can continue to question our decisions on this issue, we firmly believe we have been fair to all.
Organizations and individuals whether in government, corporate, or service roles must see protocol training as a core investment.
#IbomAir#ValueJet#Kwam1#NCAA
Events in the past few days in the aviation sector in Nigeria have further emphasized the need for urgent "Protocol Education" for organizations and individuals across the board.
Last year I came here and left because of network issues to issue ATM cards and do an app upgrade.
Today, I'm experiencing the same network glitches.
Hmm
#MonieWorldbyMoniePoint
I was talking to someone sitting beside me waiting for hours and she said, if you ask people waiting they'll tell you dey have Moniepoint account.
#MonieWorldbyMoniePoint
We're still far from from the a seamless and excellent banking experience in Nigeria.
I have been in a reputable Nigerian bank for two hours and counting, I've not been able to do what I came here for!
It's a pity!
#MonieWorldbyMoniePoint