EFCC Confirms Freezing Osun State Account Amid N11 Billion Probe

Nigeria's anti-graft agency, the Economic and Financial Crimes Commission (EFCC), has confirmed freezing an Osun State Government bank account, citing suspicious movements of public funds totaling approximately N11 billion.

The EFCC stated that investigations into the state government's finances began in March 2026, focusing on alleged fraudulent handling of Ecology Funds, Intervention Funds, and Federal Account Allocation Committee (FAAC) allocations. The agency said it froze the account to halt "precipitate and unwarranted movement of funds" into suspicious corporate entities, asserting its statutory duty to protect public funds.

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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.

This confirmation came hours after the Osun State Government accused the EFCC of targeting the state ahead of the August 15 governorship election. Governor Ademola Adeleke alleged the commission planned to paralyze government operations by freezing its accounts, describing the action as unlawful and politically motivated.

The EFCC, in a statement by its Head of Media and Publicity, Dele Oyewale, denied the political motivation, emphasizing its responsibility to safeguard state funds despite the impending election. The agency also noted that other state governments are under financial scrutiny, indicating its investigations are not limited to Osun.

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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.