The Economic and Financial Crimes Commission (EFCC) has confirmed the freezing of Osun State Government bank account, stating that the action was taken as part of an ongoing investigation into the alleged diversion of about N11 billion in public funds
The commission made the clarification, shortly after the Osun State Government accused it of attempting to disrupt government operations ahead of the August 15 governorship election by freezing its accounts.
It was reported that an Osun State Government account with a Bank, reportedly used for official transactions, including the payment of workers’ salaries, had been placed on Post No Debit (PND) status by the EFCC.
Responding to the allegations, the EFCC, in a statement signed by its Head of Media and Publicity, Dele Oyewale, said its investigation into the state’s finances began in March 2026. The probe centres on the alleged mismanagement of Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) allocations estimated at about ₦11 billion.
The anti-graft agency disclosed that several government officials, including the state’s Accountant-General, have already been questioned as part of the investigation.
According to the EFCC, the decision to freeze the account followed what it described as suspicious transfers of large sums of money from government accounts into multiple corporate entities from August 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.
The commission maintained that the action was taken to safeguard public funds and rejected claims that it was influenced by the forthcoming governorship election.
“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 said.
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