The Economic and Financial Crimes Commission has defended its decision to freeze the bank accounts of the Osun State Government, saying the action was necessary to prevent the alleged diversion of public funds.
In a statement issued on Wednesday, the anti-graft agency said it had been investigating the Osun State Government since March 2026 over the alleged mismanagement of about ₦11 billion in Ecology Funds, Intervention Funds and allocations from the Federation Account Allocation Committee.
The commission disclosed that some state officials, including the Accountant General, had already been questioned as part of the investigation.
According to the EFCC, the ongoing probe alone would not have led to the freezing of the accounts, but it observed what it described as suspicious movement of funds beginning on August 2.
The commission said, “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.”
It added, “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 maintained that it acted in line with its mandate to safeguard public resources, insisting that the forthcoming Osun governorship election did not influence its decision.
It stated, “The Commission’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.”
The agency further stressed that, “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.”
The EFCC also revealed that Osun was not the only state under its scrutiny, noting that the finances of several other states were being monitored to ensure accountability.
According to the commission, “Many of these states are on the investigative radar of the Commission to ensure accountability and probity.”
Reaffirming its neutrality, the EFCC said the action was taken solely to protect public funds and urged Nigerians to disregard what it described as misleading narratives surrounding the development.
Earlier on Wednesday, Osun State Governor, Ademola Adeleke, challenged EFCC Chairman Ola Olukoyede to publicly explain the reason for freezing the state’s to accounts and provide evidence to justify the action.
The governor described the decision as unlawful, arguing that it was carried out without a court order.
He directed the state’s Attorney General and Commissioner for Justice, Oluwole Jimi-Bada (SAN), to institute legal action at the Federal High Court in Osogbo.
The Attorney General maintained that while the EFCC has powers to investigate government accounts, it cannot freeze such accounts without first obtaining a court order, adding that the state government would seek judicial intervention.
