By Abdullahi Mukhtar Algasgaini
The Economic and Financial Crimes Commission (EFCC) has frozen the bank account of the Osun State government, citing ongoing investigations into alleged fraudulent handling of public funds totalling N11 billion.
In a statement released on Wednesday, the anti-graft agency said it has been investigating the state government since March 2026 over suspected mismanagement of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) allocations.
According to the EFCC, several state officials, including the Accountant General, have already been interviewed by investigators as part of the probe.
The Commission explained that the freezing order became necessary after it observed “precipitate and unwarranted movement of funds” from the state’s accounts to various suspicious corporate entities beginning 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 statement read.
Acknowledging the timing of the action, which comes ahead of the state’s governorship election, the EFCC maintained that its preventive mandate supersedes political considerations.
“The Commission cannot watch idly while a state government’s account is being pillaged,” the statement said, adding that it would be “uncharitable” to use the upcoming election as an excuse to abandon its legally-assigned functions.
The EFCC further disclosed that it is monitoring the finances of other states similarly, noting that several state governments are currently on its investigative radar.
“The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians,” the statement emphasized.
The anti-graft agency urged the public to disregard “false narratives and deliberate demonization” of its work, insisting that the account freeze was implemented to protect public funds from being looted.
