RismadarVoice Reporters
August 5, 2026
The Economic and Financial Crimes Commission (EFCC) says it froze the Osun State Government’s bank account to prevent what it described as suspicious movement of public funds amid an ongoing investigation into the alleged mismanagement of N11 billion.
In a statement on Wednesday, the anti-graft agency said it had 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).
The Commission disclosed that several state officials, including the Accountant General, had been questioned as part of the investigation.
According to the EFCC, it initially had no intention of placing a “Post No Debit” order on the government’s account until investigators detected what it described as “precipitate and unwarranted” transfers of large sums of money from the account into several suspicious corporate accounts beginning August 2, 2026.
The Commission said the restriction was a preventive measure aimed at safeguarding public funds, stressing that it could not stand by while state resources were allegedly being diverted.
The EFCC dismissed claims that the action was politically motivated or connected to the forthcoming Osun governorship election, maintaining that its intervention was guided solely by its statutory responsibility to protect public funds.
It added that similar financial monitoring and investigations are ongoing in other states, insisting that it remains non-partisan and committed to promoting accountability and transparency in the management of public resources.
The Commission urged Nigerians to disregard what it described as false narratives surrounding the action, reiterating that the account was frozen to protect public funds pending the conclusion of investigations.
