Nigeria's EFCC faces backlash over freeze of Osun state government accounts

The Economic and Financial Crimes Commission (EFCC) in Nigeria has come under fire after securing a court order to freeze three accounts belonging to the Osun State Government. Fuller details emerging reveal a wider scope of action than initially reported, impacting the agency's reputation. The targeted accounts include a federal allocation account with First Bank and two joint allocation accounts with Zenith Bank.

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The freeze order has drawn widespread condemnation to the EFCC and its chairman, Ola Olukoyede, as a politically motivated step.

The EFCC obtained the freeze order on August 5 from the Federal High Court in Abuja through an ex parte application. The commission's lawyer stated that the accounts were under investigation for alleged diversion of public funds and money laundering, pending the conclusion of investigations and prosecution. An investigator's affidavit supported the application.

This move has been widely condemned as politically motivated, especially as it occurred just over a week before the August 15 governorship election in Osun State. The action fueled perceptions of bias by federal agencies against the Accord Party and Governor Ademola Adeleke, who is seeking a second term against the candidate of the President's party, the All Progressives Congress (APC).

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Expressing deep embarrassment about the development on Thursday, Mr Tinubu ordered the EFCC in a statement he signed personally to immediately take steps to vacate the court order freezing the state government’s account.

Expressing significant embarrassment, President Bola Tinubu personally signed a statement ordering the EFCC to immediately take steps to vacate the court order. The court order, issued by Justice Mohammed Umar, authorized the EFCC chairman or a designated officer to direct the banks to freeze the specified accounts. The EFCC's justification for the freeze order was based on ongoing investigations into alleged financial crimes within the state government.

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According to Sahara Reporters, EFCC’s lawyer, M. A. Babatunde, moved the motion ex parte, informing the court that the affected accounts were “currently being investigated in a case of Diversion of public funds and Money Laundering pending conclusion of investigation and prosecution.”