The Economic and Financial Crimes Commission (EFCC) has defended its decision to restrict access to the Osun State Government account, saying the action was taken to protect public funds from alleged misuse.
The anti-graft agency said the move was not linked to the August 15 governorship election but was part of an ongoing investigation into the handling of state resources.
In a statement on Wednesday, EFCC spokesperson Dele Oyewale said the commission had been investigating the Osun State Government since March 2026 over alleged financial irregularities involving Ecology Funds, Intervention Funds and Federal Account Allocation Committee (FAAC) resources amounting to N11 billion.
The commission said several state officials, including the Accountant General of Osun State, had been invited for questioning as part of the investigation.
According to the EFCC, the probe alone did not warrant placing restrictions on the account until it detected what it described as “precipitate and unwarranted movement of funds” beginning August 2.
The agency alleged that large sums were transferred from the government account to various corporate entities, prompting it to intervene.
“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,” the EFCC said.
It added that the restriction was imposed to stop further movement of funds while investigations continue.
The commission maintained that its responsibility included preventing the loss of public resources and ensuring accountability in government finances.
“The Commission cannot watch idly while a state government’s account is being pillaged,” EFCC stated.
The agency said the upcoming governorship election did not prevent it from carrying out its statutory duties.
“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 added.
Responding to concerns over the timing of the action, the commission insisted that it operates without political bias.
The agency said Osun was not the only state whose finances were under scrutiny, noting that investigations into other states were also ongoing.
“The Commission has always pointed out that it is non-partisan and non-sectarian but always working in the overall interests of Nigerians,” the statement said.
EFCC urged Nigerians to disregard what it described as misleading interpretations of the account restriction, insisting that the action was aimed at safeguarding public money.
“The Osun State government account was frozen to save public funds from being looted,” the commission stated.
The EFCC’s explanation came hours after Governor Ademola Adeleke accused the agency of freezing the state account without a court order and described the move as a threat to democracy.
The dispute has added a new layer of tension ahead of the Osun governorship election, where Adeleke is seeking re-election.
